in my experience/county I have yet to find a 2nd lien at the auction. doesn't mean it doesn't happen but I haven't found a single one yet.follow the chain on the title search if it is a 1st or 2nd. it isn't rocket science.if I can do it, anybody can. :)

@Josh Braun  thanks for having the forethought courtesy and character to protect the seller in this transaction... these are just SO risky to sellers...

We mostly stick to single fams right now, and we use cash derived from a line of credit cross-collateralized over a a few of our properties (as opposed to taking out loans to buy properties), so I really don't know what the rates and terms are for 3-unit purchase money right now.

I have joined BiggerPockets to share my commitment and expertise with the BiggerPockets community by offering professional guidance and advice in areas including real estate deals and transactions, business development, and project management strategies to improve outcomes, budget management and customer solutions.As someone who has personally experienced, solved problems and developed projects in the areas of real estate development involving engineering, architecture, construction I welcome conversations in these areas as well as those below: Areas of interest include: pro forma development, technical due diligence, strategy and company growth; development, deals and transactions; portfolio development & management; leasing; construction, engineering and architecture in project design and technical operations.Real Estate, Construction and A/E, project manager, Real Estate Investor with more than twenty years of integrating business, engineering , architectural expertise and real estate development, construction management experience in designing, managing and investing in more than $126.5 million of commercial and multi-family properties and over $100 million in private and municipal projects encompassing design/build, structural, electrical, mechanical/civil engineering and architectural services, construction management, real estate investments, due diligence, pro forma development and financing.

You will do most of the work, and the mentor will just be available for feedback and advice, and will walk you through the different steps of the transaction.

Doubtful, since syndicators raise capital from 10-20+ partners on larger deals all the time, and banks fund the transaction if the deal and risk makes sense on their end.

My goal is to be financially free and break away from the chains of the daily grind so I can have a better quality of life.

Liz has personally transacted over 800 units which in on average over the 20 years 40 transactions annually.

Experience - always a plus - if you don't have it - have people on your team that do have it and can speak intelligently about the deal - contractor, agent, take out lender, mentor, etc.Exit Strategy - a clear exit strategy - if flipping - how long to complete repairs and relist, estimated time to contract/ days on market, plan if no offers at asking price. if a Refinance - who is the lender, have they done like transactions, have they looked at your full file or just approved you based on an initial conversation. 5+ units - how long does the asset need to be stabilized before refinance can be done?

When the transaction is initiated, each party provides its share of capital - 50/50, 60/40, etc.