You don't want someone else (relative or friend) to enter without proper authority.

Credit, income, and assets are not major factors.Loan is typically around 70% arv.Will send a pm to you.

I do NOT require income or assets!

There are many good business reasons lenders will not lend to an LLC that has no real credit history and no assets.2.

Thus the benefit you'd get is to defer taxes for as long as you own the property, and to own a hypothetically appreciating asset in a leveraged way.

It is a great way to become wealthy because it gives you tremendous leverage potential (your ability to use credit to acquire more assets than the cash you have).

You can get Deals on Wheels here at BiggerPockets . . . the book is great and the author Lonnie Scruggs is an amazing guy!

You seem like you'll be a great asset to this community.

That's not the case, especially if there are assets to come after.

I only ask that because the chances of making a profit are not good when you buy a junior lien at the auction if you have to cover the first as well.Maybe thats another thread. lolTo the author..... read these replies and take them to heart.