Not only has she been instrumental in growing the Chicago Investor Meetup but she has become a great friend and real estate colleague.

With the electricity on you place the instrument near or on the wire and the wire that rings or buzzes that is your hot wire, identify it somehow in a manner that will not confuse you.

Other portfolio lenders will do a bridge loan, much like what they do for new construction, where there wrap both the purchase and the rehab into a single instrument, which then converts to a standard mortgage, once the work is complete and the property is appraised.  

I also become a licensed agent (haven't yet paid the fees to become a Realtor) and got sponsored by a killer brokerage in the area, the owners of which have been instrumental in helping me get started. 

Provided you have a valid contract with the seller, you can record an instrument (e.g. an Affidavit of Purchase and Sale Agreement) with the deed clerk that formally announces your intentions as buyer.

Usually the modification instrument is a standalone.  

What I said was...the 2nd mtg holder may have released Mortgage (the security instrument for the Note) for their reduced payment, but may Not have eliminated the Debt to the owner, evidenced by the Note....which would make this an unsecured Note (no mortgage). 

IMO, I would not get a third party or instrument into the exchange - - you don't need the complication.

Here is where the magic happens.When I lend Frank Flipper the 50K against his property that is currently worth 80K, he gives me two things, a Promissory Note (IOU) and a Security Instrument that secures the Note (Mortgage or Deed of Trust).

Thank you 😊 yes I think this websites will be instrumental with networking and learning more.I would like to learn more on wholesale, buy and hold for long term(on mutlifamily) and lease options.