Hello BP, i wanted to know how to convenient the bank/lender to allow me to do a wrap around mortgage with the seller who is entering the pre-foreclosure stage or maybe just tried of paying the installment but cannot sell for various reason, and for me to find a buyer to earn profit from the difference interest rate? 

@David Salfer, here is your homework question for today: why is it that specifically in Washington, Wholesalers should NEVER arrange to double-close their Contracts, but rather, should ALWAYS try to make sure that their Purchase Contracts are ASSIGNABLE, and subsequently, are duly assigned to their end-Buyer?

Therefore, before entering into a rent-to-own arrangement with Alex and Rodney, Logan needs to be reasonably sure that they will be able to qualify for a mortgage.

That's a good thought @Jeanne Villamil...I actually might give my financial planner a call and see if he has any larger clients that might be interested in such an arrangement.

Very nice.Looks like you staged it.

She was able to get an extension of a couple of day to arrange her our demolition contractor.

I'm DC-area based so I would need to have a PM and some remote support besides my occasional visit during the rehab stage.

The rent from our two tenants completely covers the mortgage/tax/property insurance each month and the living arrangement works since the master bedroom is on the other side of the house from the other 2 bedrooms and we have 2 living rooms.

Is an LLC necessary at this stage in my wholesaling business?

I'm in the beginning stages of finding my first flip (Chicago area) and am looking for different financing options.