I spoke today with a compliance investigator in Colorado Attorney General's office, who informed me that if I purchase a loan in default and eventually have to move to foreclose, I will not be allowed to foreclose without my company first obtaining a collection agency's license.

Lenders use the term to soften the "hard money lender" stigma and to market themselves as being easier money to obtain or other benefits as if it's a private transaction, sort of no lending rules like the bank has.There are many issues using private money, much depends on who approaches the matter, who makes the offer.

The first withdrew, the second negotiated a price adjustment, but could not obtain property insurance, mainly because the required insurance inspection form was marked "improper grounding" due to the un grounded outlets that showed a ground position, but not connected to ground.This inspection form, somewhat unique to Florida, is required on any house over something like 30 years old to get insurance.   

What would be the best way for me to obtain the necessary funding?

Not great. 750 p and i on a 30, plus t and i plus maintenance minus vacancy plus misc.

You probably want to get there at least a half hour before the sale, because you don 't want to be a distraction during the sale.

@Margo Roberts and Richelle T. 

We obtained a great inspector who validated the property condition and needed repairs.

I only have 4 properties but with pretty good equity...one is also paid off.My wife and I want to get more aggressive and get about 6 more properties for now (10 total)I'm trying to find out what might be one of the best ways to obtain more properties using the equity we already have and who to use for doing so?

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