Use to pay basic needs(house payment, car payment, food, gas)2.

Just make sure your seller financing situation is done properly and recorded through a title company where you are going on title and the seller is a lien holder. 

Lots of good food, music concerts (covid has slowed those down for the time being) and a really interesting history! 

If you are new to the game calculate extra holder costs because your rehab will probably take longer (six months is fair if you are new to the game).

Do you understand the legal obligation you’ll have as an equity holder?

There is a difference between having 20 percent cash equity in the house and having -- as far as the first mortgage holder is concerned -- 20 percent equity in the form of a subordinate note.And the second mortgage holder is going to charge a really high interest rate because he's not going to have any cushion whatsoever.Will the increased interest rates be less expensive than simply paying PMI on one mortgage at 100 percent of value?

The first thing he asked me was "Who will be preparing my food?" 

My question is - is there any way to find out who the certificate holder is? 

Just some food for thought. 

I can also tell you we hit a number we feel is crazy and equity and my wife said “ it doesn’t feel like we have that type of money“ She is completely right because equity does not put food on the table or buy a plane ticket to travel!