All Forum Posts by: Harry Williams

I am purchasing a home and financing the rehab with a partnered developer who manages the entire project. Profits are to be split 50/50. 

$350,000 purchase price

$60,000 rehab price

$520,0000 ARV

$83,600 total profit before split & taxes

Looking forward to seeing the numbers. Congrats on the sale. I live in Virginia Highland.

OK, so the points I could get on my credit card would not be worth it?

I have a separate business account set up for my LLC. Should I reimburse him with checks for materials over the course of the project or should I give him a debit/credit card to make purchases for the project and watch them? What about receipts?

 OK, great. Thanks. If you were to flip additional houses down the road would you open up a new account for each flip or just use the same account for all flips? Wondering for organizational purposes. 

I am about to flip my first home. Should I employ a CPA or accountant to manage the expenses?

Also, I am in the Atlanta, GA area.

Thank you for your response. An attorney did create the development/operating agreement for me and the builder. 

I am the private lender for a builder. We are flipping a home. Do I need to have a real estate attorney at when buying or selling the home?

 @Yulanda McAllister, would you be so kind to share your favorite articles on private money lending? Thanks