Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

But he stuck with me I had a 1 mil credit line that they kept in place so I could make money it was on 90 day extensions for 3 years :( but if they had not done that I would have had to give them the keys back on a few commercial buildings I ate 250k negative cash flow on those buildings to make sure the bank got all their money..

1.To extract equity in your property by re-mortgaging if you brought the property with a mortgage is normally not possible, it might be if you have extensive building improvements. 2.Getting a mortgage on a property you own 100% of is usually possible.

Period.If he keeps playing games, I would a) walk away from the deal, and b) report him to the State RE Board.chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySect...

However, our seller wanted to actually identify the property prior to closing - they had extension rights in their contract. 

Partner Driven identified the Bayport Dr property through our extensive network and partnerships.

I’m not sure what sort of extensive “due diligence” you did but clearly you didn’t.

You give vague answers to specific questions.For example, when someone asks about potential rent, and they provide enough information for you, don't respond with an extensive range.

What was your extensive research?

My point is even some experienced operators doing more extensive/sophisticated value adds are struggling in this market.