We explained to him we would pay for probate and pay to fix up the house to get it rented.The lease is for 5 years but dissolves once we close.

Hi Jayce, we got the seller to carry back the portion of the down payment and the bank to finance the 1st position on the rest.

RM (and most other good management software) does double entry accounting, imports bank info, has reconciling functions etc.

Strategic renovations don't have to break the bank.

Is there a pre existing loan with that bank with either of you?

These names frequently come up in investor circles because of their reliability.Speak Directly to Their Team: Legitimate lenders will have knowledgeable representatives willing to explain their loan products and processes in detail.

20% down, mortgaged the rest through a local bank How did you add value to the deal?

Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.

This is more common in today's market and often allows the seller to get a higher sale price than if you were to go through a bank/SBA loan.

Lastly, they’re going to want a higher interest rate than they can get from the bank for taking the risk.