This might strain the schedule for your project.Risk: Significant financial losses, including the possibility of losing your property in the event that you fail on the loan, might arise from a repair and flip project gone awry.Due Diligence: To make sure a hard money lender is respectable and reliable, it is crucial to carry out extensive research and due diligence before selecting one.Before proceeding with a hard money lender, consider your financial situation, risk tolerance, and investment goals carefully.

Feel free to reach out to me directly to carry on the conversation or check out episode 878 on Bigger Pockets where I discuss in more detail some of the above benefits to micro-flipping https://www.biggerpockets.com/blog/real-estate-878 I appreciate your feedback Antoine.

Yeah, I think you're okay as long as you focus on 'Are they doing a good job when they carry out maintenance?'

Podio offers a ton of cool apps the provide different areas for you to nurture your lead through the process.

What the benefits for the seller are is that they CAN foreclose almost as easily as a bank if need be; there is a good chance that they can get a better rate on that Note that they will carry (say 5-10%) than what they are likely to get with their equity otherwise; if might help them sell a property that is hard to sell otherwise; and might be advantages income tax wise also.One example is a 4plex that just came online here in our market.

.- Hard Money lender: 90% purchase LTV, 100% Rehab, 11.5%, I/O- Commercial Line of Credit on the funding gap: $13.6k (DP), $12k (CCs) , $15k (Rehab 1st phase) + Carrying Costs = $50kProfit will likely be $15-20k, depending on the rehab and sales price.I continue to learn from others and have gained my experience over the past 18 years as a RE investor.

There are so many ways a syndicator can "add risk" to the deal in order to hit a marketable return for LPs, that any LP really needs to understand the ins and outs of real estate operations, market cycles, financing structures, fees and carried interest, etc if they want to fully assess a deal.

With regard to the "contractor agreement" you mentioned, I would absolutely get it in writing from the contractor exactly what work will be carried out, when it will be carried out and what is included for the agreed upon price. 

So, for example, assumePurchase 80kRehab 20kClosing 5kCarry 10kARV 175kSell commissions/fees 15kWould my taxable profit be 45k (carry costs included) or 55k (carry costs excluded)?

@J ScottI bought both your books two years ago and while the information in the books was not always applicable to my situation (I'm a DIY landlord, not a flipper), I'd like to take this opportunity to thank you for helping to teach me how to work through pricing and carrying out the project management aspects of larger residential renovations.