Hello BP Extended Family!

It was under their minimum as I wanted to try them out and they needed just a bit more to complete the deal.  6 month note with option of one 3 month extension.  20% APR.Come June, they were nearly complete and chose to extend. 

I extend the same to you and hopefully we'll come across a business opportunity in the near future.

I'm not sure what your plan is for the property and whether you would need the extended balloon or not.I think at least at that point they may want to negotiate with the term or the rate/payments.

I can assure you, you do not understand NPNs, you may understand the basic concept but just because you buy a note doesn't mean you can restructure a note as a modification to a note is extending credit jus as making a new loan, so, check with state and federal laws, can you originate a new note of that type?

Is it me or is the guy with 50-70 rentals, have a 200k a year salary and lives in a tent so he can extend his borrowing power to buy units?  

It's easier if the house is already empty & if it is a for sale by owner and not on the MLS.Then before the end of the contract, if you don't have a buyer, the seller may be willing to extend it.

I hope someone reading this can extend a helping hand, even if it's just some tips and tricks of the trade and not mentoring, but hey mentoring will be great also lol.

I hope that with that packet of properties and a small amount of REO asset lists i have received already, will kind of help extend my time frame on this up hill battle of inquiring REO assets.

They also know that if things don't quite add up properly, we will either need to agree to a different price, extend the contract, or exit the contract.