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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
13 January 2025 | 7 replies
Selling would likely trigger capital gains taxes (unless you lived in the property for two out of the last five years or use a 1031 exchange).
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21 January 2025 | 40 replies
Im trained enough myself at this point in QBO, but my bookeeper still does the more complex entries (Loans, capital balances, reconciliation, etc) I just do the data entries for expenses.
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10 January 2025 | 9 replies
I also have some capital to contribute.Could someone explain how syndications are typically structured, and how are people using Other People's Money (OPM) to build large portfolios with little to no money down?
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12 January 2025 | 20 replies
You'll need more capital and most will require a personal guarantee and personal financial backing.
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7 January 2025 | 3 replies
Hey there, I'm a UK National working in the US under a L1B visa.
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16 January 2025 | 23 replies
Also, making some sacrifices can more than make up for lack of capital or experience when getting started.
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13 January 2025 | 2 replies
You may want to look up Stacy Patel with Golden Handshake Capital.
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7 January 2025 | 4 replies
Keep in mind that while there is an exemption to the Fair Housing Act.....most states that have a state level Fair housing law do not typically provide the same exemptions as the national law.
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6 January 2025 | 25 replies
And amplify your deployable capital by significant multiples.