If one doesn't exist, you should sign new ones with the tenants.

Your arguments to the contrary, or soft back pedaling, make you look inexperienced, unknowledgeable and just plain ridiculous.The reason private lenders do not want to lend on owner occupied homes is that those loans must comply with the SAFE act, resulting in burdensome regulations, increased costs, and greatly increased risks of litigation.

Now the project details..Project in CA: Existing structure has to be demo'ed and new homes have to be built.

What makes me nervous about 401k's are that who know's if congress gets greedy and goes to the moon with taxes on these regulated retirement plans.

So, I would focus on building up some reserves with your existing business to help build your RE business.

Maybe what we want does not exist.

If the target tenant for these properties were people making 60 or 70 grand a year, I would agree completely because those jobs just don't exist in N.A.

I was unhappy- the appraiser said she'd finish the report up using 2200 sq ft, but they'd need the permits (which don't exist)-- we're now talking to the county about getting the house inspected and getting it squared away but it's turning into a nightmare.

When you buy an existing building, you are buying existing CF – banks like that.

You can then just pay him the payments, he keeps his existing financing there, plus makes a little extra, and you do not need to get new financing.