SKI
Look I own seconds and would not go for your deal I would call the first and find out where they are going which is WE WANT ALL the money PLUS in the rears and penaltys
They know 1st and the second knows the value within 10% around 300k so you are bustin your bunns for nothin.
Find a better deal......or better yet work 50-60 deals and let the best ones find you.
Stop crammin a square peg in a round hole....
Get ou there and crank teh numbers let the good ones come to you.
I pass on 3-4 pretty good deals a month and go with a PURE WINNER once a month.
I want 40k-50k on every deal that has 100k-150k in value.
SKI
Skidoodle, you, as a private investor holding seconds, will view a proposal from a different perspective than would an institutional lender.
We are all very impressed, and happy that you will only settle for deals that will enrich your wallet by $50,000 or more. That's considered a home run where I come from. Home run hitters strike out a lot.
Most of the folks out there would settle on a handful of singles... and an ocassional double.
One deal per month that can offer $5,000 to $10,000 in profit on a part-time basis is nothing to belittle.
I, for one, don't advocate an acquisition strategy that demands all, or nothing at all. A small piece of pie is better than none.
Sorry this was a reply to another post so it was not a stand alone post and makes no sense as one........
Yes I agree better something than nothing.
I was responding to a post that had no equity in the deal and a reluctant second to say the least > I was just saying move on to at least a deal like you mentioned or look for a winner.
That was my point.
SKI