That said, perhaps look into getting an additional loan quote from another lender to compare.

And you are locked in with the extra annual payment even in times when your cash flow is suffering, such as during a prolonged vacancy or eviction.If you want to get faster pay down, just make an annual contribution to additional principal equal to one month's payment.

In addition, changing the Manager or Member of an LLC does not do anything to title, the property would still be owned by the LLC.

Lenders are taking advantage of this environment to unload more of their bank owned inventory and in-foreclosure inventory at the foreclosure auction.”I entirely agree with RealtyTrac and think the housing recovery wouldn’t have happened so quickly had real estate investors not moved so much inventory down the river.

Additionally, you could also use your skills to assist in projects with others.

. , thanks for the additional input.

:-) Just realized I never posted an actual useful response in addition to my bad joke...I think the big question here is: How long do you think it will be until you need the money for your next project, keeping in mind that you'll likely want the money in some relatively liquid format to provide POF for potential deals?

In addition to the promissory note you would typically have a mortgage or a deed of trust, depeneding on which is used in the state where the property is located.

In addition to being much harder to come by than traditional financing, there are a couple other downsides to each.Owner financing - usually this incentive is attached to a property that the owner is having a hard time selling to a buyer with a normal loan.

We would like to ensure that you have a clear understanding of our rental process up front.We will conduct a credit and background check and contact references as part of the application process.It is important to provide a clear and complete application to make this process as smooth as possible.Please ensure you will meet the following qualification requirements before applying as there is a non-refundable application fee:Stable, verifiable gross income of at least 3 times the monthly rentFavorable credit history - no judgments to prior landlordsPositive references from previous 3 landlordsNo eviction historyClean criminal background check – no feloniesAll applications must be accompanied by a non-refundable application fee of $25 for the first adult and $15 for each additional resident over 18 years of age.This fee covers the cost of the credit and background checks.Again, we encourage you to apply only if you are confident in meeting the qualification requirements.Applications will be processed in the order received, and the fee will only be charged upon processing.If the apartment is rented prior to your application being processed, we will return your application fee.We use TransUnion SmartMove for our screening process.Upon receipt of a completed application with fee, we will send an invitation for you via e-mail to complete the application with SmartMove directly – there will be no additional cost for this beyond the application fee.This process helps protect the integrity of your personal information.