Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 15 years ago,

User Stats

4
Posts
0
Votes
William Lemmond
  • Real Estate Investor
  • Philadelphia, PA
0
Votes |
4
Posts

Using OPM but CASH!?!?

William Lemmond
  • Real Estate Investor
  • Philadelphia, PA
Posted

I'm looking to purchase some deals with others cash. They want to essentially be my bank. One; How do we go about transferring the cash without heavy taxation i.e. red flags. I will be buying through a n LLC/business account that I have with TDBANK. Two; What's the easiest way to structure these deals to protect us both i.e. backing it with real estate.

Deal one for example: Purchase at 43k. Investor wants to loan me 50k with 5 pts attached payable within 3 months. What do I do with that money?? I don't want to show up at my bank and dump 50k into my business account. Then it becomes income? Right? Please help. I'm clueless with CASH and how to cut out u know who.

Loading replies...