The less skin the buyer has in the game the more likely they are to walk away and leave the lender holding the bag.You really have to expect that you might have problems collecting the payments.

I’m late to the game Mike, but thanks. 

I'm a little new to the game, and just trying to figure out the ins and outs of the process before fully committing myself.

Good Luck and I hope you get back in the game soon.Jason

Tenants are not always on top of their game.

Hence you need to be on top of your game.

Why, banks want real skin in the game, real equity for a 75% LTV loan, to date, a soft second filled the gap allowing a borrower to get in under the rules, but was more likely to walk away.

Life is truly weird sometimes, cards get dealt, and you gotta play the hand you are dealt.I'm a big fan of Robert Kiyosaki's "Rich Dad" books, and within' the philosophy, Robert teaches that there are 4 quarters to the "game of life".Age 25-35: 1st quarterAge 35-45: 2nd quarterAge 45-55: 3rd quarterAge 55-65: 4th quarterAge 65+: OvertimeAge 70: out of time...The goal of the this "game" (in order to win) your passive income is greater than your expenses - putting you what Robert calls "out of the rat race".If you think about it - many great sporting events are won in the last quarter - and given that you are still in YOUR FIRST quarter, it may give you some solace and encouragement to realize that you still have time to completely rebuild and succeed!

Every appraiser in town has a broker's license and they're the game too.

I'M NEW TO THIS SITE AND I'M ALSO NEW THE REAL ESTATE INVESTING GAME.