We are only a few days from closing on a fourplex and our bank has come back and said that because the appraiser said there is a shared driveway the seller must get an easement with the neighboring owner stating this and attaching the easement to the properties.

The hard money lenders say we must have about 10k in the bank to qualify for a loan which we no longer have.

When you are in the refinancing stage of the BRRRRR, do you refinance from a local bank? 

Going back to my Marine Corps roots, I spoke with an old marine buddy of mine who suggested scoping out his (and my former) neck of the woods - Onslow County, Camp Lejeune, Stone Bay, Swansboro, Hubert, Richlands, Surf City, Topsail and the southern Outer Banks.

He was needing a way out because he was about to sign the home over to the bank.

The method I'll be using for this first one is I'll be putting 20% down and receiving a bank loan for the remainder.

@Elia S.You are going to have a really hard time finding any banks or commercial lenders doing a non-recourse loan product on a loan amount that small.

Most individuals on the Pre Foreclosure list are in denial that they're behind on payments, and they truly think that they can work with the bank to bring their loan current.

Perhaps I'll lowball them a bit (banks won't even finance less than a 1.25 DSCR, and I think with current operation it's about 1.2) and see what happens. 

Some don’t want to deal with tenants and prefer to flip, some like to idea of holding property and renting for annual cash flow, and others become the bank and invest in notes.