New member and Real estate investor. St. Louis, and Jefferson county

[Tim Thiemann]

I am a young licensed Realtor that is highly motivated to make a great living in Real Estate investing. I have been working full time as an electrician for the last 4 years right out of high school. I just recently put my two weeks notice in and I will be going into full time real estate investing. Flipped one already and I am ready for a lot more!!! 

[Tim Thiemann]

Thank you

I live near Pacific, mo. Love to spend time with the family, hunt and fish.  Just recently sold my first house in house springs, mo and made good profit on it. I do not want to pursue as a realtor, more to use it as a great source of info. I will work with buyers and sellers but will not market for that. 

I am very interested in lease option deals, wholesaling, fix and flip, rental property in the next few years with tenant buyers in them..

My first main question is already posted on here, involving a private loan for a partner and I to rehab a house then list and sell.

A partner and I will be borrowing money for a unknown rehab project. We do not have to pay back until 8 months have passed with 7% interest. 8 months should be plenty of time to do what we have to do.

My question is, what kind of contract if any is needed to make sure the money we borrow is only spent on the things that involve the rehab?

Also, do the numbers sound good?

Thanks for the help.

Tim