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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
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13 December 2024 | 4 replies
You pay the contractor for their services and then keep all of the profits.
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17 December 2024 | 22 replies
@Chris Clothier I believe this gentlemen could possibly be interested in your services.
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12 December 2024 | 7 replies
Out here we call it the MLS, Multiple Listing Service.
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17 December 2024 | 8 replies
Is it segregated (only my funds in the account)- do you have an attorney on staff that reviews exchange docs and keeps them current - what is the typical time for your staff to complete an exchange ( you want to get a feel for if they are understaffed and can they get the work done on your time frame)- how many exchanges do you do a month- what is your errors and omissions insurance through, can I get a copy- what is the amount of your fidelity bond - for each occurrence- what protections are in place to prevent wire fraud- will my funds be used by the company for outside investments (goes back to the type of account funds are held in)- who will be my contact during the exchange (goes to customer service, you want one contact who you can reach by telephone)Investors should keep in mind that it is their money they are placing with a QI to hold for a short period of time and be sure they feel comfortable with the company they choose to perform this role.
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30 December 2024 | 89 replies
I do both an email and a phone call I usually email first and do a phone call to ask if they have a phone number.Thank you for the advice, I understand the lack of creating equity but I feel like all I'm doing is the same as any other buisness which is getting a product, repurposing it for a consumer, and selling said product/service.
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11 December 2024 | 6 replies
Hey @Shuvrajit Mukherjee - First off, I am not a developer, but just wanted to ask some clarifying questions to better understand what data you are searching for.It seems you want data from the Multiple Listing Service (MLS) not NAR?
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15 December 2024 | 7 replies
Personally, I enjoy self-managing and screening is my favorite thing, so I'm not in the market for PM services, but a lot of my clients that I work with and other fellow investors would be interested in it.
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11 December 2024 | 8 replies
I have been battling with the credit bureaus for 15 years between 2 divorces, and multiple incidents of identity theft (the untold effect of military service).
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11 December 2024 | 2 replies
They charge $160 for photos.https://www.wowvideotours.com/services/