Theoretically, we can then attach the funds to a new property or a temporary escrow account through an already agreed upon "substitution of collateral."

Is there a way to start your real estate portfolio or a business without having collateral or mixing personal finance’s?

Once fully satisfied, the split becomes 50/50.When accessing this deal, here’s what went through my mind:A PMP would have to be okay with holding their funds long-termThe borrower would need to be experienced with doing wraps, as it takes time to get willing and able buyerThe borrower would need experience in pivoting to a different exit strategy should they fail to successfully execute a wrapWith NO EQUITY on the property originally, and the PMP being in second position, the borrower would likely need to cross-collateralize if the PMP has NO INTEREST in taking over the propertyMy conclusion, from looking at this from a thoroughly analytical standpoint, would be only someone who has a moderate to high risk tolerance and cares about cash flow without pulling out and parking their money into numerous deals would likely lend on this.Anyways, thoughts anyone?

I recommend finding a solid financial advisor to manage your cash when it’s not tied up with real estate and talking to your lender about using that account as collateral in a short term loan.

You will only be able to use the collateral in this SBA project on another SBA project though.  

Is the HELOC against the property, the property and the doublewide or is it cross-collateralized?

In at $71k in 2012, did $7k in reno (mostly materials), now worth $145k with a low lien balance...been rented for years at $1,200/mo....I used the property/equity as collateral to do several flips and a new construction project over the years...then moved to multifamily buy and hold....and on and on...Everything is a struggle when you first get going...you don't know what you don't know...I didn't know what at title company was when I started! 

.#5: Who ar your borrowers and what type of assets are you collateralizing? 

Most do: Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

You acquire the NPN at 30-50% of the collateral (house) value and attempt to either get the buyer back on track in order to flip the loan as a performing loan or foreclosure if the borrower is non-compliant.