All Forum Posts by: Christian Wilson

@Jim Pellerin Thanks again. I do have a promissory note, but it is not registered on the title. I assuming that’s something that takes place at closing? Or can it be done afterwards?

We didn’t partner the deal, but he brought brought me in due to needing capital. I do know there are some tax benefits if he is unable to pay, but I have substantial proof i.e. bankruptcy or other documented means. I’ll have to do my due diligence in recouping my investment, but do not want this same mistake.

Does the Venture Partnership Agreement work like a promissory note? I have to do some research.

@Tim Bradley thanks a lot. Awesome job.

@Tim Bradley thanks for the post Tim. It looks like you have your work cut out for you. At least your other projects should seem relatively easy after this. I'm new to BP and this world of flips and dips. You mentioned BRRRR. Please help me out a little with this method: Is a cash purchase the only way it works?

@Jim Pellerin thank you very much. I’m currently in a situation where a borrower may not fulfill our agreement and could potentially lose my investment. I want to be a little more cautious in the future. Have you dealt with anything like this before? If so, how did you deal with it?

Legal action or be patient?

I have an opportunity to get in on a fix & flip opportunity. What’s the best contract mechanism to cover yourself in the event legal action is necessary?