Draft precise agreements outlining loan terms, manage risk by diversifying investments, and build relationships with real estate professionals.

Honestly, this whole thing sets the Turnkey industry back in such a big way (and sharing a first name and last initial with him probably isn't doing me any favors).Anyway, just thought I'd poke my nose back in to see what the latest was and, wow, the claims you outlined are truly jaw-dropping.

First and foremost, ensure all terms are clearly outlined in the promissory note.

The buyer agency will outline the commission but I always ask the sellers to pay my buyer agent commission.

As to when payments are due, how there computated, who is responsible for P.tax's, insurance, how that's all communicated, every single miniscule detail clearly outlined including ramifications and actions for any default of any kind.

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.

With new clients I have a detailed contract outlining the SOW, time frame, and draw schedule.

@Erica ArceCould you have a written agreement directly with the wholesaler that outlines your fee for bringing a buyer to their deal?

The below pictures are the outline for the approved plan released by the Alexandria Economic Development Partnership in 2020.

The details of that are outlined in the first two posts in this thread and we had a very informative conversation.https://www.biggerpockets.com/forums/311/topics/65...Growth Equity Group dissolved this company name and are still doing the same exact shady stuff ala Morris invest under different company names.Just remember, once these con artists get the taste of money, there's no amount of people and families they won't be willing to screw over.