If your household income is $520k, you are in the top 1%.According to the Federal Reserve Survey of Consumer Finances, a net worth of $416k puts you in the top 20% of American households.

Many of the legit and non-legit real estate gurus seem to tout owner finance.I've asked around where I am - in a big metro area with a healthy economy - and people seem to laugh when I bring the topic up, like it doesn't typically exist.However, I see owner finance deals actively advertised in some struggling cities and rural areas.Are owner finance deals only trypically common in markets where the economy is in the toilet?

I used to have a general practice (family, criminal, civil) but I have limited it since 2008 to consumer debtor bankruptcy cases.

Patricia,Everyone in 2008 can think DR Horton homes and the banks for the homes the consumers bought when the bank was financing any three-legged dog that could write and then DR Horton was giving $10K to $20K back to the home buyers.

That equity is consumed through the balance due back to the Mortgagee post foreclosure sale.

I would argue that most consumers nowadays, will visit a website before they make a phone call.

@Scott Costello ,In my opinion, you should flip a few bucks or a healthy gift card their way with a note thanking them for the introduction.

I've spent the past few months consuming as much content on BP related to wholesaling as I could.

You really don't need a mortgage term policy designed to be reduced with a mortgage as you can obtain more coverage with a term policy that reduces on a uniformed reduction basis, a uniform decreasing term policy that will always cover any lien amount.Another matter, if it's a long term hold, an option to purchase and or first right of refusal can be used in the operating agreement, your equity may be applied toward the purchase as it's earned and acquired through the partnership.But, again, life coverage is rather unusual on small RE projects, but, OTH, I had a partner who was pretty healthy, my age who had diabetic not thought to be a big deal. 3 months later he was in the hospital having a foot amputated and 2 months later he had a stroke at my desk!

Tell him to get on a healthy diet.