I purchased my childhood home from my father for about $100k less than market last June and the original plan was to hold for 2 years which takes me to June 2025, do minimal renovations, then sell and take the profit from the sale and purchase one or two more investment properties.

Everyone will walk away feeling OK if you amend the original agreement.

We will need to wait a bit for seasoning but I expect to be able to refinance in the coming year pulling out all our original capital.  

The original “cash is king” was a saying that was developed during the ultra high interest (mortgage rates hit 18%!)

Hard money is probably 1-2% origination right now with 12-14% interest for 6 months, so that's why I say you have to be good....and fast and buy right.   

Beyond removing the developable parcel from existing loan expect whomever finances the construction to want zoning, building permitting and utility connection approvals before the loan is originated (some will accept just zoning).

Originally posted by @Lavonia Q.

More specifically to @Marc Shin's request, unless everyone and their mother is drafting their own operating agreements, the original was drafted by someone else.

I've spent several years developing skills and tools to be successful in a very niche space.I usually work with mom-and-pop sellers who have originated just one seller carry in their lifetime and, when they connect with me, have never sold a note. 

Originally posted by @David Song:I lived in Columbus for 5 years, many years ago.