Use the cash for carrying costs during the school year?

But hard money is really out of the question, and has the risk of the buyer not closing and holding a property I couldn't carry, at high rates anyway.

There is a very likely outcome that you will be holding a note with an uncooperative homeowner/squatter, you will get to pay attorney/court fees and insurance costs while receiving no payments through a long, dragged out FC process, and then the pot of gold at the end 18 months later is a trashed house that is worth half what you hoped and you will have to pay up the 2 years of unpaid property taxes to boot.Just remember, there is a reason these existing lenders are dumping the note rather than doing a workout themselves.

I carried my daughter on my shoulder and took pics and such.

@Precious Thompson I only include the fees that I, as the owner, will be carrying as operating expenses, when I do my analysis of a property.

A home will simply not be able to safely carry the load of the best lamps and ventilation for an extended period of time without substantial upgrades.

They would love to have an installment sale and seller carry the loan.Terry Lewis

It pushes them to finish faster which decreases your carrying costs.Get a good lawyer that focuses on development (not just real estate transactions).  

I give 3 or 4 construction draws for 100% of the estimated rehab cost, but I give them in arrears of each stage of the construction, so the borrower must also have 25 - 33% of the cost of the rehab in reserves, as well as reserves to cover carrying costs.

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