All Forum Posts by: Joseph Stelly

@Dawn Anastasi

Thanks Dawn, I am partnered with a friend on two buy and hold single family houses that were supposed to have been flips 6 years ago and things were going downhill fast at the time. I will be cautious and as prepared as the BPnation can help me to be.

@Christopher Roy

Hey Chris, hopes this helps.

@Chris Winterhalter

This sounds more like what I was thinking but didn't know how to say it. I wasn't sure if I would have to offer a percentage of the profits plus the interest on the money I borrowed. My way would make it sound more like a partnership than what he or I would like. I will consult a lawyer. Thanks again.

Thanks Chris; I will have to find out more from him but I do know that he mentioned to be a silent partner and also this person is already worth millions? But you brought up good points that I will ask.

A friend of mine wants to lend me money to flip and I need help on how to structure a deal with him. I currently buy and hold and ready to flip. What needs to be done to be fair to him and me? Maybe someone could walk me through a friend money lender.

Thanks

Joey

Thanks Paul and J Martin for the warm and informative welcome. I am looking forward to my experience with BiggerPockets.

Thanks John, I will listen to the podcasts and go to the learn section for help. The advice you gave me is helpful.

How does adjudicated properties sales work and are they safe investments?

Hi everyone; I am new to Bigger Pockets and excited to get started. I own 6 rental properties and have owned 4 of them for 9 years now. Two are completely paid for and I receive $500 a month for each of them. Then I get $700, $550, $500 and $450 for the rest which I still owe the bank. I want to expand to other areas of real estate investing like flipping, foreclosure or tax liens. Can anyone tell me if adjudicated properties are safe investments and how does it work?