All Forum Posts by: Bryce Cutler

Will,

1st at 165k, 2nd at 25k and ARV at 260k. Equity is not a problem so I think that this is a smaller risk and we are going to go with a promissory note. I do think that both scenarios are something I could use on various projects depending upon how the numbers play out.

Thank you both,

Bryce

didn't think of doing it that way, thanks Bill.

Bill, I have created an LLC for the investor who helped with the first lien and purchase. The rehab is a small loan in the second position so I don't want to go to the expense of an attorney for the small amount.

Bryce

TJ, great question. I guess I should have clarified, this is not my first rehab, just my first time using private funds for the rehab. We both realize second position is riskier and are just looking for an easy unsecured contract/agreement.

Thanks,

Bryce

Will, it's their first deal and ours too for rehab purpose and they are just doing a small second to cover rehab costs.

Thanks Will, appreciate the advice.

Bryce

I have a residential lease that works well for me, but I have just purchased my first mixed use property and want to get a good commercial lease. What things do I need to include for a commercial tenant that I haven't had for a residential tenant?

Thanks,

Bryce

what is the best way to create a contract for a private investor?

Thanks,

Bryce