Then send a follow up email outlining what you are proposing.

Maintain transparency by clearly outlining loan terms, interest rates, and repayment schedules, and ensure consistent communication throughout the lending process.

HOpe this helps...Educate Yourself: Read books and listen to podcasts about wholesaling and flipping.Build Your Network: Connect with other investors and mentors in your area.Create a Business Plan: Outline your goals and strategies to stay focused.Take Action: Start making offers and pursuing deals.Stay Persistent: Keep learning and adapting through challenges.Good luck, and enjoy the journey!

Mortgage: A legal document outlining a loan secured by the property.

I’d get clear outline of what they cover and what they don’t cover.

You can do things like request updated tenant information, new signed leases that kick in at close of escrow, rekey or get key copies, estoppel agreements (outlining the deposits held by the selling owner),  etc.  

Hey Marcus, It’s common for Qualified Intermediary (QI) agreements to have provisions that protect the QI, but some of the terms you’ve outlined do raise concerns.

It’s fair for the capital partner to handle these financial contributions since they aren’t bringing management or hands-on skills.Whatever structure you choose, make sure all contributions and profit-sharing are clearly outlined in a legal agreement to avoid any potential misunderstandings down the road.

In the case of having several partners in the property, it also would outline an operating agreement and arrangement between the partners of who owns how much of the property. 

We do invite you to review your reservation confirmation email sent on 8/27/2024 that does outline all processes and procedures as well as what consumables are included.