We are impressed with this person's success and knowledge, know him to be a stand up guy (he has contractor background too), and see a win-win for both parties with future deals and lead exchange downstream.The funding scenario is . . .80% Hard Money with 20% Private Lender Gap Financing1st Position Loan Amount80% Hard Money for Purchase and RehabFinancial Requirement - $144,000Use of Funds - 80% Purchase and 100% RehabLender to be Recorded as 1st Position Lien HolderLender Holds Back Construction Funds and Drawn Upon as Needed.2nd Position Private Lender Loan Amount20% Private Money for Purchase and Carry CostsFinancial Requirement - $35,000Use of Funds - 20% Purchase, Closing and Carry Costs for 1st Position LoanTermsLender to be recorded as 2nd position lien holder on title filing12-month balloon note with no prepayment penalty2 points and 10% annualized interestPrincipal, Points and Interest to be repaid at retail sale of the propertyMy stepson is well aware his 2nd position can be extinguished if things go south.  

If you are the winning bidder and become the owner subject to a senior lien, you're going to want to know what rights you have (if any) when working with the senior lender.Just my opinions here.

Talk with the players that understand these types of deals.

Messages such as this in this tone won't win you any favors."

While most of the players in this niche are not really active in the game, I think Ernie is.

Most counties have an online bid system.Auctions are the same... 90% of them are online as well.In both cases, highest bid wins... so good luck!

The Millionaire Real Estate Agent, How to Master the Art of Selling, and How to Win Friends and Influence People are great places to start building sales skills. 

The seller, the listing agent, and the buyer agent will all win.

Lawyers know that the insurance providers will settle if it looks like there is a remote possibility of the tenant winning .

My worst fear was that my fear would win, that I would end up in the same rut as everyone else because I backed down.