That particular deal ended up falling through anyway, but my concern is that this will continue to happen and I will end up killing many leads when I politely decline advances before a deal is finalized.

My only concern that is that they would all become discouraged from sending me deals.Thought?

Please please please if you know anybody or can recommend someone please feel free to reach out and leave a message!

Do we leave that excess in the account after paying the mortgage?

However, I am concerned about restrictions around using an equity option and then moving out of a primary residence to another.

As far as tax is concerned do you pay more if you take the cash or is it the same as what goes to the principal of the mortgage?

To have rent that far below market and leave that much cash on the table would be a huge misstep.

They then take those notes and package them with others from similar purchases and sell them along with their analysis to private investment funds.This leaves 45 notes from a package of 1,000 that three professional investment funds, doing intensive analysis by highly trained MBAs, have determined cannot yield even a minimal investment return.These are then offered to the individual investor, who according to those in the industry “with something to sell” (the leftover NPNs and/or “training”) can profit enormously by (1) making them re-performing notes or (2) foreclosing and selling the property for large profits.The pitch from those “with something to sell” is twofold: (1) “There is plenty of meat left on the bone” (actual quote), and (2) if you send the borrower a complete package of all docs, weighing, say, five pounds you will “shock and awe” him into paying on the note.I highly doubt either of these claims have even a micron of validity.The parties with a financial interest in you buying into this will cite isolated instances of great success, never mentioning the all-more-frequent instances of total failure.So at the end of the day the training promoters have collected up to $30,000 per person for their NPN “mentoring”/”coaching” program, the retail asset disposer has made 50% to 100% profit on their inventory, private middlemen have turned a $2,500 investment in a note into $16,000, and my sister-in-law who purchased 5 NPNs over three years ago and has spent large amounts on attorneys, taxes, and brokers has yet to see a penny in return.To paraphrase, if you don’t know who the sucker is in any ultra-high profit promise situation, it’s you.

I'm especially concerned about finding a loan that doesn't require a 20% down payment.

Should I leave a certain door open during the appraisal so that the building is still technically a duplex?