Quote from @Matt Meier: Good morning,I’ve come across a renovation property available at a significant discount and would like to secure it without going the traditional 6-month financing route.

I was hoping for some idea to secure the Promissory Note but it seems that's not available.Thanks for your response. 

Good luck on your journey and I hope you provide the financial security you hope for to your daughters. 

🏢Following up on security concerns, let's dive into operational competency markers for your Qualified Intermediary.

Have a baby, and gallop into the sunset (while still making calls to PM's)INTEREST:I first got interested in Real Estate Investing because of the potential financial freedom it can provide to me and my family.

Sellers may struggle to mentally shift from "owner" to "tenant," which can create challenges with boundaries and property care.Security Deposit:If you’re doing a temporary leaseback, be sure to collect a substantial security deposit to cover potential damages and ensure they vacate on time.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

We have been fortunate to rarely hold any security funds from former tenants.

If you’re considering leveraging hard money lending (HML) for this flip, it could be a strong alternative to traditional financing—especially since HML is quicker to secure and designed for investors aiming to flip properties fast.With HML, you’re typically looking at covering a significant portion of both purchase price and rehab costs, which keeps more of your cash free for other expenses or emergencies.

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