Keep in mind this is only relevant if they have not pulled money out with a refi.

Its just spending a lot of money on something that wont work if its brought to light.

Saved $1,000 per month in monthly housing costs.Step 5: Saved up the cash flow money and bonus money from their work.Step 6: Bought another condo $250,000 in a HCOL city that cash flows with 5.5% rate and 25% downStep 7: Raised rents on all 3 properties to market rate equal to $5,800.Time to complete: 9 years.Cash flow went from $300 to $1500 per month.Properties valued at approximately $925,000.

Her idea at present is going to be to purchase the house herself (using traditional financing - high interest rate) and make the payment affordable for the family's rent to cover by arranging the sale well below market value and putting up a down payment of 30+ % of her own money, resulting in a PITI of ~1500.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

I was doing Hard money for Gas Stations and strip malls.

@Martin A Phillips I would talk to other local investors and see what title companies usually handle transactions with hard money lenders.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

I’ve seen a bunch of posts here over the past six month on BP where people seem to be betting big money (some call it investing) based purely on someone’s charm and word.