Instead offer to review any nonemergency bid over $x with them. 5) Knee-jerk reaction is to laugh at this.

If the agreement shows "Joint and Several Liability", they all guarantors can be held accountable for the full extent of the debt, not just their portion.

Investment Info:

Single-family residence hard money loan investment in Shawboro.

Purchase price: $175,000

Cash invested: $750,000

Sale price: $1,450,000

This is a current transaction that I'm wor...

@Jeff Krus hopefully you ended up looking into jointing some type of mentorship or got into investing. 

I'm not sure if you're American but if you are and you file US taxes jointly then you'll still owe capital gains in the US.

Do you do wraps, subj-2, lease w/option to purchase, CFD, Owner Fin, SDIRA, Owner financed 2d mortgages, Joint Venture the deal where you bring some capital and maybe help with repairs and sell and do splitsies, ....  

It's $500k for a joint couple, $250k for single, on the gains.

And also, pricing at 7% with that low of a FICO is highly unlikely, unless I am missing something here@Robin Simon I'm not familiar with the quote but confirming our minimum FICO currently is 640 however if there is a partnership (multiple full joint and several recourse guarantors) we currently take the higher of the two median FICOs if equal ownership % Also - 7.625% is certainly in our ballpark currently - doesn't seem unreasonable with our rates right now! 

I would love to know what you think about the area and if you are interested in wholesaling or joint venturing with us.

(I know you're not a lawyer and will eventually seek professional advice.)
I just talked to my RE broker and he said with LLCs you typically do commercial loans. I don't like the terms and would try to avoid.
We cou...