Are you funded, or would you be relying on your "partner"?

New Member I am a Novice in the real estate investing.

I am not really a new member.  I

I'm Tomas and I finally decided to become a member. I

So I have adjusted my initial angle and I am going to start my building of capital by partnering up with this family member. I

After some research and a kindly "heads up" from another BP member I have decided to not go ahead with an offer.

Sorry for your troubles, but we have a contract.They need to provide a death certificate and get a release of the security deposit from the other guy's estate.If they qualify without the third member, I would execute a revised lease in their names only.

The 5 unit I'm looking at is frame, and like you mentioned will need a large infusion of capital, since all the siding has to be re-done, along with all the interior work that it needs.

The advantage of this setup is the logistics and convenience (all done with the same lender), plus the fact that the re-finance amount is based on the ARV of the property (not the initial loan) and can be re-financed immediately (no freezing period).

I joined PB less than 6 months ago, I was a regular member, I updated to Pro member last night after Brandon webcast .