We are having HiLine homes do the building and have already given them a 15k deposit so we have quite a bit of skin in the project with that and owning the lot outright.

Note that I do not put a lot of time into due diligence until the "contract to hold" meeting, when they put some skin in the game.At the "contract to hold" meeting, I collect an amount equal to one month's rent.

Unless you have skin in the game and your partner is protected in case of default, you will not find a credit partner.

So much knowledge to soak up...I'm just getting started and have very little skin in the game.

I want them to have $3k or 4k out-of-pocket to have some "skin in the deal."

Essentially because you don't have enough 'skin in the game' as determined by the lender you have to pay MIP an insurance should you default, which would be less likely if you had a higher down payment to lose in the game.

I tell him he doesn’t have any skin in this game and he needs to stay out.

But like I mentioned before, the numbers have to be right for it to work and there's more than one way to skin this cat.

They have more skin in the game then you do.Make sure you get clear title.

Most lender have some "skin in the game" requirement even on seller financing deals.