I respect this though, this is a great way to put it, and I would advise the same thing for others as well.

In fact, nothing was ever done.To make matters worse, I have another Fund That Flip deal that has gone south with little hope to recoup that investment as well.The loan was made in June 2018 and they stopped paying a year before Covid started and this is their latest comments:The developer remains non-responsive to Fund That Flip’s communication attempts to discuss foreclosure alternatives.Foreclosure counsel is waiting on the court to schedule a hearing date for the judge to rule on our motion for default judgment.Fund That Flip continues to work towards re-establishing contact with the developer and their known colleagues to discuss a successful exit.

Cleveland is an excellent market to get started, and you definitely want to establish your 'boots on the ground' here before diving in - an experienced property management company is a great place to start (Bonus if they have a sales team attached - making it a one-stop-shop!).

This helps to establish a "detrimental reliance" (implied contract) legal standing in case they attempted to go back on their notice.

@Don Konipol: You are the lender and I am not and I respect your expertise and posts.

I respect that you are doing it with kids, too many people use that as an excuse.

I evaluate rent increases to establish how the cash flow will increase.

home depot and lowes is a great way to start . amazon is awesome from small to large items and sometimes have sales . some of the contractors you work with will also be able to source materials from their established relationships of suppliers .

My advice for conforming borrowers (FHA, VA, AA+, W-2/Full Income) is to check with your current bank or credit union with established relationship.

Melodee Lucido Would you mind posting what Gurus you recommend that investors use to establish and run their businesses??