All Forum Posts by: Hans Restuccia

@David C.- I agree

Ann Bellamy@Ann Bellamy is a smart lady and is very accurate in her comments above!

thanks much!!

Welcome! Glad to have you!! Let me know if I can be of assistance in any way. (I am new to BP too- smile)

what is best way to invite them to join BP??

Great story- we send an loan offer to them and make them sign it and give us a refundable deposit of $250.00 as a payment toward doc prep prior to inspection and final approval. If we do not approve the loan after inspection we refund the $250.00- if it closes the $250.00 is a credit toward doc prep. But if we approve the loan and THEY do not close they forfeit the $250.00- is not a lot of money but usually stops the games. Also, is small compensation for our time and expense. You like????

If you work w/ HML you can make all his work- but w/ conventional- soooo difficult!

HML cannot meet the criteria for owner occupied under Fed laws- not legally. We only lend to a business entity for a business purpose- period. Does everyone agree?

if you have a legitimate business, and you form a corp. and you transfer the property to the corp. for a legitimate business purpose, then you can draft a lease and rent the property to you as an individual tenant- however, I suggest you obtain proper legal counsel for all such matters.

There is no way I would invest the lion share of the funds without having the lion share of the control- that is a natural concern for the money man in the deal. Therefore, I offer a loan instead of a JV usually.