All Forum Posts by: Andrew Halbert

@Jay Hinrichs

New Terms:

25k/4years/10%

quit claim to my LLC at closing 50/50

I am happy with this. 

Can you provide and references?

It's pretty simple.

A friend and fellow investor I know very well presented this to me.  

25K Cash from me to him to secure the multi unit property.

Terms.

8%/5years. I manage no tenants. He covers all repairs of property. My LLC goes on the deed 50/50 with his until the loan is paid in full. Then we quit claim myself out obviously.

This will all be written up by an attorney. 

@Larry Watson

That is incredible and awful all at the same time. 

Wow,

@Mark Elliott that is a great idea. 

@Jake Thomas

You are 110% correct.  I should have factored all those things in to the original offer. The roof is what really shocked me.  I had no clue it was as bad as it was.  I thought it had a few years left, but I was wrong.  

Lesson learned, and in the end, I do feel we made a good decision to get out.