No kidding if there is no Trust deed or mortgage these are simply unsecured prom notes. and to collect on those you need to first file a lawsuit  second get the judgement  third try to collect on said judgement.. sounds to be these borrowers may have set this person up and they fell for it. 

I'm following this for more comments. this is how most HML that are large are set up with thier guidance lines.. pretty common set up on the arrange of the collateral etc etc.

All equity.I forget the exact amounts, but I think on the equity,  I (we, really, because it was my wife and me) put in 50% of the equity and had an investor that was a close friend put in the other half.  

I will honestly tell you exactly what I did and how I was successful and helping clients win. 

knowingly not having it under contract.Instructing investors to set up fake ‘tax relief’ companies In order to intentionally & maliciously misrepresent themselves to tax delinquent distressed homeowners.

Hi Chris,I would be happy to set up a meeting and getting additional information on what your plans are and see if we could collaborate.Thanks!

You can have a conversation first, then run a tenant screening, set up the lease, collect deposit and move in fees. 

They also do private money lending, so there’s a real path for me to buy my first property soon.I recently read Set for Life by Scott Trench and want to apply his concept of saving my first $25K.

Quote from @John McDonald: Hello, I have a unique situation going on and was seeking extra confirmation and ideas on the current deal I'm in.Basically the property is transferred via deed, I sign a promissory note for a set amount, and record a deed of trust.

Hey @Brice Peterson, this is exactly what I do and I am up to four investment properties so far!