I think we need to start at the beginning and spill the beans as to what is really going on, an LLC, no personal guarantee, second position or further back, is this to a commercial transaction or a consumer loan, buying from an LLC, there is no issue with the number of liens to be paid off, the issue is the dollar amount and the property value.

I buy thru my LLC .I hate dealing with banks and usually use cash for transactions I have been looking at some of the profolio lenders and hate having to create title with their llc.

When you look at as many deals as I do, and you are willing to put in the effort to learn how to identify opportunity, structure transactions to create deals that work for both you and the seller, you'll find what you are looking for.

The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014.FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located.Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping.FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state - and federally - chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.The regulation, including its exemptions, is still in effect.Quick Links and ResourcesReview the Federal Register Notice (Docket No.

@Michele RokYou're in Ohio and Ohio restricts Real Estate Investors and a few things without a license, so you need to get on titleAnd I advise you to get licensed in OhioThat said, with a pretty house with no work with no equity, you can look at buying on subject to land  contract or do a lease option assignment or do a sandwich lease option~~~~~Say you have a pretty house with a lot of equity say 50 per cent, you can give a low cash offer w transactional funding and do a double closingHave the seller refinance of 80% and give a note with good terms for ten per centDo a lease purchase sandwich or lease-option assignment if licensed~~~~~~Say you have a house that needs a minor rehab not a major one, which make lousy Wholesaling offersSay the ARV is 10,000 in work and ARV is 150,000If it's a wholesaling offer at 70% of ARV or 105,000 minus repairs of 10,000 minus a wholesaling fee of  say $5000So 105 - 10 - 5 = 90kFor a rehab has minor repairs?

There is no reason to rush into an uninformed transaction.  

To The BP Community,How do you go about evaluating the right agent to assist you in either the buying or selling transaction of your deals and eventually working with them long term?

If you do, accidentally, than you need to make sure you do the appropriate financial transactions to log the expenses as owner contributions or disbursements.If you talk to a CPA or attorney they may disagree with some of these above points, however I view it like this.

Can you share the figures for this transaction?

thanks Brian, what about dealing with a realtor, setting this up for a quick transactions.