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20 November 2015 | 0 replies
1.We have a buyer2.The buyer wants to buy 1,000 barrels/day in existing production3.Purchase price is $30M4.Our bank will lend 67% or $20M5.We have a Mezz funding source who will deposit the balance of the purchase price of $10M directly into our lending bank6.The Mezz wants to get paid off in 12 months with a 30% profit, so he wants $13M in 12 months7.The whole key to this deal is that the Mezz needs a Forward Takeout Commitment from a legitimate bank or life insurance company for the $13MFour questions, please:1)Can you provide a Forward Takeout Commitment for this situation2)I understand from the information that Gordon sent me that this type of letter costs 1 – 2 points and that is fine3)Will your takeout commitment provider charge anything to underwrite this deal and let us know if they are willing to issue a takeout commitment4)We are working on oil production deals in both the continental USA as well as Canada – are both locations acceptable to your takeout commitment providerI am really hopeful that the answer to 3) is no, because if it is, then we will put a solid production deal in front of you.Let me know – many thanksps.We are also developing several SFR /Modular Dev in Austin TX. (2016).
5 January 2017 | 22 replies
Perhaps you should consider a different lawyer if you have a legitimate case that she wouldn't go your way on.
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27 March 2016 | 53 replies
No one has legitimate access to pre-foreclosure information, because there is no NOD filing required.
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23 November 2015 | 12 replies
Having a legitimate marketing piece and knowing some basics will go a long way.
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25 November 2015 | 6 replies
It will also make your case for investor funding more legitimate when the time comes.Good luck!
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24 November 2015 | 2 replies
While the sellers contractor may be legitimate, how do you know otherwise if you don't have a relationship with them.
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26 November 2015 | 2 replies
Native apps (meaning the BiggerPockets apps on the Apple App Store and Google Play Store) allow us to build free of the constraints of the technologies available in web browsers, which in turn enables the resulting app to be faster, snappier, smoother, more responsive and generally nicer to use.
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10 January 2018 | 37 replies
You need to have legitimate self-employment activity or own a small business which produces 'earned' income and does not have any full time common law employees other than the owner and his/her spouse.If you have a 401k with the previous employer - yes you can roll that over into self-directed IRA or 401k.
7 December 2015 | 11 replies
Any shortfall would be my “investment” to enable me to qualify for a mortgage sooner rather than later, which might be very well worth it for lifestyle improvement.
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10 December 2015 | 3 replies
There are many factors that will enable you to do this including how much money you have to put down and how much your property will command in rent.