Two phrases to look up are wrap around mortgage (sometimes called a wrap) or an all inclusive trust deed (AITD).In both cases you are effectively creating a second or junior lien above the existing 1st.

Effectively you can not do both.

Thank you for your response, I just wanted to make sure b/c even though it's such a small detail, small details can sometimes have big effects, like the contract becoming void.Thank you, Van :superman:

:pup:I was re-reading this and something popped into my head.The accountant is in effect offering legal advice concerning liability.

Originally posted by "Wholesaler":Originally posted by "happylogan":Are the foreclosure sites scattered about the web an effective tool for an investor looking into that market?

There are plenty of effective methods of web advertising outside Google ads.

I may or may not be doing it correctly.Here is the info from the property:Financial Summary Proforma Year: 2007 Scheduled Gross Income: $89,100 Vacancy: $4,455 Effective Gross Income: $84,645 Maintenance: $8,800 Taxes: $8,015 Insurance: $3,500 Other Expenses: $5,925 Total Expenses: $26,240 Net Operating Income: $58,404 Debt Service: $49,500 Pre-Tax Cash Flow: $8,904 Expenses/Unit: $800.00 Unit Mix Information One-story units No.

I quit doing them at that time on the advice of counsel and I just do a "fee simple" sale.

He skips from OH to FL, effectively abandoning the property and lease.

Cause I spend a lot of time counseling people with not enough equity to make it worth my while.