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13 March 2018 | 2 replies
There's a lot of discussion around partnerships, private lending, and hard money, but I don't see much discussion on the actual mechanics - what these arrangements look like in practice.My hope is this post can serve as a reference for those starting out, so we may get a better understanding of how these strategies are actually implemented as well as an ability to more accurately predict the profits and returns you and your lenders and partners can expect.If those with more experience would like to revise these numbers and statements, it would be most appreciated.These scenarios assume you, the flipper, are bringing none of your own capital to the deal.Typically, this would mean 1 of 2 scenarios...Private Lending - Someone you know brings 100% of project costs (purchase, rehab, acquisition costs, holding costs) to complete the deal and in return, they get a certain percentage return which comes out of your profit.Hard Money + Partnership - You get a hard money lender to cover 80-90% of purchase+rehab and a partner to cover the remaining 10-20% as well as acquisition costs (including hard money origination and points) and holding costs (including hard money interest payments).An aside about the structuring...Private Lending - A promissory note is created, and your private lender lends to you or your business.
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31 March 2018 | 12 replies
I'm implementing all of them.
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29 May 2018 | 39 replies
You can request from you solar contractor to have a grid-tied solar only system installed that is prepped (plug & play) for future battery implementation.
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14 March 2018 | 4 replies
Depending on how you plan to allocate your overhead (for instance- if hours are you main cost driver), you may want to integrate with some other apps on the platform.You may want to speak to an accountant that has worked with implementing these types of systems (apps + job/project costing + class tracking) as they could help point you in the right direction.
15 March 2018 | 6 replies
I suppose the question I am asking is more in reference to marketing materials/implementation strategies specifically.
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25 July 2021 | 12 replies
How do you get around this government implemented hurdle?
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15 March 2018 | 1 reply
I'm reading "Getting Things Done", and hope to implement that level of organization soon, however it's tough to allocate the proper amount of time.Anyway, I've recently started an LLC, have my first buy and hold rented out, and am beginning my first flip.
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16 March 2018 | 4 replies
I will definitely be implementing them in the future.
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22 April 2018 | 6 replies
Ive challenged them on this since there was not vote by the homeowners, that im aware of, and they essentially quoted as 2008 law that says the the board can: (18) Exercise any other powers necessary and proper for the governance and operation of the association.The reason they have implemented is that there was a bad landlord that allowed a tenant to rent that eventually got busted for drugs.
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22 March 2018 | 10 replies
Having this in mind will also affect the decision making process when analyzing the location, the projected monthly rents, etc.Just be conservative in your underwriting and implement strategies to protect the downside before anything else.Good luck!