I use IFTTT (iOS location recipe) and it automatically adds lines in my spreadsheet every time I hit a particular spot.

And it came with 4 years I/O.

However, I have a 108K, 9.9% I/O loan on a very nice duplex worth about $250K.

I upgraded to IOS 8 the other night and am having issues with the BP app.

During your meeting, you will find out your hard money brokers parameters, how they work, if the use private money or institutional capital, rates, points they expect, lien positions they'll entertain, will they service the loans etc..One VERY basic transaction involves agreeing to lend no more than 65% LTV (of a $100,000 purchase price) to a borrower who agrees to 12% I/O and 4 points.

I am targeting just 2 zip codes and will keep tweaking until IO get some results.

A lot of CMBS I am seeing is 10 year term and 30 year amortization with an option for the first 2 years to be I/O.

@Toyin Dawodu The book "be a real estate millionaire" by D e a n G r a z i o s i  is a good book and lays it out there pretty well.

But you can pay off at any time if money gets looser.8-12%, 15 year amortization (maybe longer, maybe IO), 3-5 year balloon.

````````````````The upfront agreementIn order for the upfront agreement to work, you need to frame it as a very fair, 2 way business agreement.Here is a possible exchange...After the walk through, you're sitting at the kitchen table, looking at both mom and dad the sellers.I fold my hands and I looked very solemn, I try to give them is kind of an expression is possible, as sincere as possible, I have my legal pad, a pen, and a blank letter of intent in front of me.I also have a folder of comps and rental information.So here's the upfront agreement...Investor: "So Bob and Susan thanks for the walk through, I just wanted to phrase how I'd like to see our business relationship work.