The pooled income would more than cover the cost of the mortgage or loan, while netting me a decent monthly income.The drawbacks: Im assuming since the loan would be secured by the deeds for ALL the properties, which would be a pain if someone wanted to buy.any thoughts or advice?

My short list includes: a) legal cost of drafting & executing agreement; b) appraisal of collateral property; c) fee for registration of second mortgage; d) administrative cost of servicing; Are these reasonable?

I think you'll do better looking at the weighted interest expenses, weighted cost of capital and an manager's IRR that factors in labor or management, administration, collections, carrying expenses, etc.

I had 8 no-shows in a row 2 units back and it was a real pain (lesson on a vacancy in December... don't do it...).

Joe Gore Didn't question the attorney's expertise at all, just saying the closing of a lease-option is not really a closing, but executing agreements, filing a notice and other administrative tasks that aren't rocket science.Are you asking if I did closings?

Buyers love it, and don't seem to care that hardwood in the kitchen is a pain in the you know what to maintain.

At the same time I agree. and it is painful to see, there is some tendency to jump out and criticize wholesalers for "not being successful" or "not being persistent" or "not showing up again in BP" or "not presenting deals" or whatever.

We've found that to be the case across the board when dealing with vendors of 'administrative' construction products.

It’s hard for us to craft a solution, without finding the borrower’s pain, but this is usually an affordability issue, where we rely on borrower buy-in to set up an acceptable win-win solution for all parties involved.

James,I feel your pain!