if so, couldn't you just find a note seller to help sell your part of the note, get the quick cash to buy off the original owners mortgage, or at least strike a deal where you'd use the money from your sell to pay part of it, then assume the mortgage left on it. that way the original owner is out of the deal, you become the 1st position, and since the tenants opted out of the option, you get to keep the property, and rent it out regularly to pay off the rest of the mortgage?

. - Score Optimization Systems being linked to I3 Solutions inadvertently via this thread, I would also like to address any and all claims noted in this thread including the statement I3 Solutions was targeted by the FTC, which we have also researched.

A quick note: As far as the power of leverage goes, it is awesome, but there is a problem.

Average deal would be $70,000 Appraisal, sell for 75% of that, so buyer would be coming to table with around $14,000. 6%-7% rate on a 30yr fixed note.

I am about to graduate and I have accepted an offer with a starting salary of $72000 with a note that the salary will increase to $80k in 1-2 years if I pass the PE exam.

Granted, the BPO value is probably listed in the system (although not every area has access to the loss mit notes but it varies from servicer to servicer), they will be very hesitant to give you any useful info for fear of telling you the wrong info and getting in trouble later.

What are the advantages/disadvantages of buying a property (duplex) and having the seller hold the note as opposed to conventional financing?

Deed of Trust and Promissory Note.

Too far out for me to get interested though, like to stay local.Jim, one thing I've noticed is that my banks never were interested in my portfolio of land (as collateral) until I showed them all the owner financed notes that I had against them.

The secretary keeps brushing me off that the guy is busy with another client.Initially, the guy issued me two promissory notes for the money I lent him.