Be sure to read K Marie Poe’s posts on BP.

Mary,I a commercial principal broker and owner of my company as well as an investor myself.I help many buy triple net properties nationwide.

To Mary Joe's point, that scenario is exactly what happened to me 2 weeks ago.

Samantha M. I

Hey Mary Joe - a HML is a Hard Money Lender - someone who lends out money at a higher interest rate (usually 10-15%) and usually has some "Fee" attached (2-10%, depending).

I don't think it would work with this deal only because the reason they were selling was to move to Florida to escape the Michigan winter, and they need the money to pay off their current loan (around 58k) and then some for moving and finding a new place to live.

I watched this one house which i was interested in, purchased at 1.2M, renovated to the max and listed within 6mths for 2.8 M. I

hey wilson and mary, im from staten island. not many members from NYC on here. but keep in touch maybe we can make something happen.

Marie Poe, I am just guessing here and would also like to see more knowledgeable answers but the appraisal is only one aspect for a lender to consider when making the loan.

My mother and her husband, in Michigan, use "land contract" to describe properties they've deeded away and where they're carrying back the note.