Yes, there's more work involved, but now we have a bunch properties that rent for as much as some of our SFH but we don't have to do any of the repairs.

Does anyone involved in the venture have any overseas connections?

I know it involves significant renovations and legal help but I believe all units will sell for about 12 million and we would only be into in for 4 million or less compared to selling or doing buyouts based on the appraised value of 2.5million.

In my humble opinion, opening up a Mortgage Brokerage was a much more involved process than opening up a real estate brokerage, but well worth it in the long term.

Thank you all for your help, and I look forward to being more involved in BP.

A little more informationL Our HML didn’t want us to owner occupy, as it still was a non-owner occupied product, but had no problem lending to us in our own names, with no entity involved.

What are the steps involved in the purchase of apartment complex?

Jerry was a pioneer in litigation involving the attempted enforcement of the due-on-sale clause by lenders in the State of Washington.

As the bank requires it, and the buyer gets the bank involved, it was paid for by us. 

All involved might be interested in that.