Does anyone have a copy of a Mortgage Note?

But she couldn’t keep up on the payments on the mortgage, a subprime loan with ballooning interest rates.

One small possibility is to see if there are any other liens or mortgages against the property.

become a broker and get in the industry its very tough as well 50% burn out rate but 10 years in your in a very good position.. my wife has 25 years in  and all her business is referral she spend ZERO on marketing and is at I think 13 million in sales so far this year... pretty nice... also the mortgage industry is a nice space.. become a HML … I closed a loan yesterday and made a 30k fee.. it took me 3 hours .. plus I will make another 50k in interest.. etc etc.. trying to wholesale houses is one of the toughest things to do.. it really is.. just saying unless your ready to scale. and have the funding to scale.. its not a longer term gig.the big wholesalers I know are really just mid to small size real estate companies.. they have their marketing department.. they have acquisition managers that go out to the homes.. and they spend their time razing the capital they need to buy and or pay for 50k a month or more in marketing to really be a top dog broker / wholesale business..

Essentially, you get a mortgage in reverse because you can't afford to pay for your mortgage and then the lender pays you?

There’s a judgement for $280K from a reverse mortgage that the lady should not have been able to sign according to her son.

I already know my lender's basic terms to estimate the mortgage amount and use a vacancy rate of 1 month's rent and base my maintenance estimate between 5 and 10% depending on the type and age of the property.Note: I have 8 rentals and am by no means an expert.

We are looking for an area where houses are cheaper and can be flipped relatively quickly.

Things to consider:1) Depending on the state you live in, an LLC may not provide as much protection.2) If you don't keep your finances perfectly separated (and even then it's not a guarantee), an LLC may not provide you protection.3) You'll end up paying more in your mortgage and your LLC costs.For those reasons, especially for your first one, it's generally fine to just get a lot of coverage in umbrella insurance (or a lot of personal liability coverage in the property insurance that you'll carry).However, I'd be very interested to know if any BP member can say that an LLC did prevent them from losing money or getting personally sued at some point -- I haven't seen that posted.

List price: $350,0004 units: 3 x 2 bd/1.5ba 1 X 2bd/2baI figured $1100/mo for rent for the 3 1.5 baths and $1150 for the 2 bathTotal Income: $4450I used Zillow and my assessor's website for tax info (although I have no idea what FCV and LPV are)Tax: $95Vacancy: $230 (5%)Repairs: $230 (5%)CAPEX: $230 (5%)Property management: $450 (10%)Mortgage: $1922 (using an FHA loan at 3.5%)PMI: $280Insurance: $70 (based on zillows numbers)Total Expenses $3507Cashflow: $4450- $3507 = $943Down payment: $14000Closing costs: $4000 (I definitely need help with this number)Rehab: $10,000 (pulled this out of my butt, only 1 picture of the outside)Total cash in: $28,000Cashflow for the year= $11316COC ROI= 40.4%I'd just like a little help to figure out if I'm even in the ballpark or if I really need to make some big adjustments to my numbers.