I originally started as 80% LTV and 12% + 1 point with 3 month prepay penalty 

Originally posted by @Glenn McCrorey:BP brothers and sisters,  I quit the last job I will ever have today to focus on RE investing. 

He ended up taking my underwriting/origination escrowed money and strung me along for six months, frustrating me, the realtor, the seller, and making my negotiation potential crumble.

Since the LLC doesn't own the rental you're missing out on the asset protection that was originally intended.

Intent is to get the foundation blessed off by a Civil Engineer and save about $15K in foundation costs as the original design was for a 3400 sf house.

It’s always good advice for someone doing a 1031 to actually have their replacement property under contract when they sell the original property, but few actually do this.

A lot of original details still remain but looking forward to uncovering some goodies.

One great thing about fix and flip loans is that there is no early payoff penalty, so the original lender's commission is not at risk!

The real property investment can be repositioned if it proves disappointing in its original form; it can be refinanced or recapitalized if it has too much or too e pensive debt; inflation over time bales out many bad purchases, and finally the investors knowledge, experience and abilities can be leveraged to turn around a cash flow negative property.I’ll provide an exampleThree years ago we purchased a note from a bank secured by two auto repair facilities with a large amount of excess land.  

The original closing date was in Oct 2022.