I'm relocating to Kalamazoo from Phoenix in the upcoming 30-60 days.

Seems like there should be some borrower protection to prevent it or why wouldn't the banks make it more common practice??

The larger firms will have contracts with real estate relocation firms...ask who you need to speak with and let them know about your house and future projects.

Practice finding deals (for example, searching the MLS).

I'm not endorsing the practice, rather contributing toward your question.

Be very careful, some of these people sell 25k courses and teach very little applicable and practical real estate investing tips.

We both know this isn’t the recommended practice for newbies but the few properties we have found in So Cal are yielding a whopping 1.1- 1.5% cash on cash.

But the notes are really easy and inexpensive to create and it gives separation between lender and developer.AS for the practical application for most of the BPers here that fly under the radar a check with their local state agency would probably give them the answer they would be looking for.Now of course every state is different..

Where the amount of collateral is highly marketable, is clearly sufficient to cover the unpaid balance together with all expected costs involved in securing and disposing of the collateral and 3. falls within prudent lending practices in extending credit in similar financing transactions.

How long have you been practicing?