All Forum Posts by: James Mobley

I just looked up a promissory note and its legal in Florida. So that is some really useful information. So when I use a promissory note with a potential lender I can just proceed with buying a property as if I was buying with cash? What if I couldn't secure the full amount to purchase a property and instead could only come up with 20-40 percent; Could I get a traditional loan with a promissory note along with my W2 and credit info?

 Okay, So that pretty much answer my question. I wasn't sure if I had to treat it as a partner or not. Especially with family. Is there a certain contract I have to create and sign for this to happen? I'm just unsure of the whole process completely as a whole. I want to take advantage of the money on the table.

Ill ask my Realtor also about the legalities of treating them as lenders and partners. I appreciate the response Jacob

And I currently am trying to separate myself from Social media. At least the main platforms. It's too much of a distraction! I'll stick to bigger pockets for now to learn the game. I'll have to find some other members in my area to get to know things better.

Newbie here. I'm just starting off my adventure so I'm here to learn for the most part.I have been listening to the Podcast A lot lately and its keep the motivational juices flowing. I just bought my first home In Brooksville, Florida and I have found a lot of potential opportunity In my area. I'm HIGHLY interested in gaining passive Income Via Rentals. Specifically using the BRRRR Method. If you guys have any good articles Using such method please include them in a reply. I love to learn!

I'm also curious on how you all Structure loans or Borrow money from friends/Family. I have a few friends and family willing to loan me money if I can find a good deal and gain more confidence to pull the trigger. How can you use another person(s) to finance a property Legally? I always thought there was a 10k limit on gifting. Feel free to send me an article if this has been answered.