The borrower and home owner still owns the home so you are buying from them.

Borrowed money is expensive money, and don't tell me about "tax breaks", paying a dollar to save a quarter ( doubt if you're even in the 25% tax bracket) is FOOLISH.

I cannot find a lender that will finance a property when the borrower owns more than 10 properties.

I can assist you with hard money rehab in FL if this is your desire---65 ARV-No income/employment/asset/credit verification required-13.50% + 0 Points + 1500 fees for a 3-5 YR ARM...Regards,Scott Miller

In that case using the equity for short periods is different than borrowing for a down payment on a long term purchase.Where in MA?

If my calculations are correct new profit would be around $40KDoes this look and sound correct.Any assistance would be greatly appreciated.

With sub2 you are paying the rate that the borrower was paying.

I also heard that some people ask for closing cost assistance?

I'm looking for Property data sites that have REO, NOD, and NOT information.I have just joined and have been trying to read from a few of the sub-forums I am experienced and need assistance with in the past couple days.I definitely will be joining in!

Some will have lending libraries where you can borrow courses for no charge (after the annual membership fee).You can read BP and other sites.