I'm sure you have dozens of FSBO signs to call in a day, but do yourself a favor and ask about the house first, before, trying to work your creative financing magic.

If I was the homeowner whose loan was in default and the auction date was in 3 months...and I signed somebody up for a 1 year lease and didn't disclose the situation...this would be a problem...I would be forced to break the lease and the tenant would have recourse.In the situation of the contract sale and then renting it out...the seller is not the landlord...the contract buyer is.

My advice is:* Have you USP (Unique Selling Proposition) to Sellers be: I can close in 5 business days,* Have PLENTY of Tenant Buyers before you buy the houses* Get ONE major player for a business partner.

I found a way, but we would have to sign personal garauntees, which helps with the issues related to having 3 partners in a deal, but doesnt limit our liablity, which is my main objective.

This was not a problem because this deal was with the homeowner and not the bank and even though the agent griped we were able to do the assignment because it was already written in the contract and they had signed and agreed to it.I have another deal and unfortunately for me the end buyer is using the same HML but this time this is a short sale.

You better make sure you do your due diligence before the deal is signed.

Lots of signs on apartment buildings.

I know i had stopped school to invest full time but i signed back up for next semester due to the fact that i can't get anything done so instead of sitting on my butt i'll head back.

THEN I realized there was much more to it than a seller signing a listing agreememt, and an agent submitting it to the multiple listing agency.

They will require him to sign a promissory note and maybe require it to be secured by ALL of those other properties for the difference between the short sale amount and the balance.Well, at least that is what they would likely do in saner days.