Its driving up existing home and ranch values in those areas. 

Paid-off houses is just moving assets from higher risk (and thus higher reward, i.e. you have a leveraged house which frees up cash to buy another house, increasing your return but also adding some risk) to lower risk (if the place goes vacant for a year, you won't lose it to foreclosure, for example).

I'll spend more time on the boards and hopefully can get a better sense of when the reward is worth the risk.Paul- what are the #'s that you are looking at?

Ut was a small reward but mire than what i started out with.

So, you can foreclose on him if he doesn't pay you and you would do that subject to the existing senior lien, which you would have to pay off eventually.Be careful if you become a lien holder and subsequently try to foreclose.

The banks would factor in the pre existing income from the remaining 3 tenants into the size of the loan you would have to carry in order to take ownership of this 4 plex. 

What said agent acting as an agent and a undisclosed principal.. all those types of issue that can get a broker into hot water.So your probably right your broker given your experience  lack of generating revenue for the firm did not like the Risk = reward component of your hanging your license with him.

High risk equals high reward...

He was a principal in the creation of the SAFE Act while at HUD, and in many manufactured home related issues at the CFPB until his retirement.Regulatory law is both complex and complicated when compared to other forms of law because in order to understand how it will play out, you first have to understand what the original intent of the law was when passed, rather than just what exists in writing.

When you bring up “selling on terms” I think it’s very confusing to most people.So I keep it simple and I don’t use “lease with option” terminology and “subject to existing financing” and “wraparound mortgage all-inclusive trust deed”.The upfront agreement basically talks about what you are willing to do as a business person, and sets the stage for not coming back ever.