You should have documented that in writing, but even a text message from him would likely hold up in court.You post the notice and give them the required amount of time.

I can say that with Phoenix, a multitude of opportunities can be in store for you if you invest in their market, network, or even just want to get familiar with it.What type of real estate are you into: fix & flips, buy & hold, multi-family, or something else?

Investment Info:Single-family residence buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Working with a private lender can indeed come with challenges, particularly regarding qualifications and funding structures.For your cosigner, they typically will need to be a member of your LLC and the private lender will want them to hold 51% - depending on lender of course.Compensating your cosigner fairly is based on what both parties believe is fair.

For a 3-4 family home, it's more complicated—you're looking at commercial lending, which requires a large upfront investment, high holding costs, and greater risks.

The longer you are able to hold your property, the more time appreciation will have to do its magic.

Even this is an incomplete list.Worst of all, the main reason not to make this loan is that you will not hold a first position-lien against the property.

For comparison purposes, I hold ownership units in a LLC that owns a retail/service center where there is a mortgage loan that initially represented 50% of value, now about 35%.  

I'm a digital nomad who purchased a 4plex in Carson City, NV a couple of years ago as a buy & hold.