Even if you are not technically a lender but a partner, do your homework.

Brandon,My business model is to work with for profit and non-profits institutions to find what is sometimes referred to as "group homes" where 3 or 4 room mates live together with varying degrees of support from the institution up to 24/7 staffing.

Technically, you're supposed to report $50K in winnings as income, and then report $50K in losses as an itemized deduction on Schedule A.Seems like it should result in the same thing -- the two even out and there is no extra tax due.

I still have a BOA mortgage w/ 21 more years on it (technically, but I know I'm ahead on that) that I plan on keeping and paying down as quickly as I can afford.My friends have almost no money to put down and I'm planning financing them.I have a lawyer who I've used twice in the past for traditional purchases (one bank financed, one cash) and she assures me this is not a difficult thing.My friends have agreed to my asking price and my terms of the loan.We are getting a small premium on the sales price of the home and are loaning them the $110,000 at 6% over 30 years.We still owe about $75,000 of the original $91,500 BOA mortgage which is at 5.875%.I talked to my Allstate agent and she said we'd have to switch from homeowners to a Landlord policy.First question, does this sound like a fair deal for both parties?

The other thing is to determine if the author of any technical subject is actually qualified to give instruction, being successful doing XYZ and making a million means it worked for them, not that anyone else can duplicate that nor is having made money any qualification to actually teach others.

In the later, you are technically acting as an agent and without a license, breaking the law.

Hello all,So I've been a bit late to write this post as the house has technically been under contract for roughly 19 days.

Well technically I have a partner, so I spent $250.

This is a carry back deal for an investor dealing directly with my (seller) RE broker.Facts:- My acceptance was sent AFTER the 5:00pm 3-day offer expiration which was Friday so *technically* it could be considered void I would think.- I have not yet received buyer acceptance confirmation.- NO contracts outlining terms of the carry back have been signed or agreed to. - Escrow and govt. offices are closed so I don't believe anything could have gotten started yet in that regard.My thinking is that I shouldn't be liable for broker commission at this point if I send a document stating I no longer wish to proceed.

Even though technically FHA has lifted this ban, lenders still hate to large increases in prices.