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14 December 2024 | 2 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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11 December 2024 | 6 replies
If you have not put them into service yet then you may want to hurry up and do that otherwise you’ll have to wait until next year.
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14 December 2024 | 4 replies
With TOU service you charge it at night for 5-7c/kw and use it during the day to arbitrage the price difference.
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17 December 2024 | 4 replies
Some mentees will act as a bloodhound for the mentor, knocking on doors, driving for dollars, scouring the internet, making cold calls, or performing other services that help the mentor find new deals.
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19 December 2024 | 22 replies
I’m in the La Jolla area, but service all your targeted locations.
7 December 2024 | 4 replies
Whether or not the asset appreciates in 25 years I still have a paid off building.The risk is if the asset declines in value AND you have to sell it for some reason.
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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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17 December 2024 | 22 replies
@Chris Clothier I believe this gentlemen could possibly be interested in your services.
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7 December 2024 | 35 replies
Lenders have different loan capacity at any point in time; they might not announce that they aren’t making a certain type of loan right when you need it; they’ll take your application but either delay you to death or find an obscure reason to decline the loan4.
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3 December 2024 | 26 replies
I should note that that I was using Baselane's banking service to collect deposit and rent, and had moved the funds immediately to my private bank after I collected (thank god!).