For example, if the inventive fee is "12.5% over 8% preferred return", that means that once the fund has achieved an 8% return for the LPs, any subsequent profit can be shared by the GPs (they will get 12.5% of all subsequent profits).Catch-up Fee: A provision in a fund's structure that allows the general partner to receive a higher share of profits after the limited partners have received a specified return.

Quit claims are used to indicate that if someone might of had any sort of interest in a property they no longer do.You will find some title companies will not provide title insurance on a subsequent deal if there is a recent quit claim.

Then, you can use that money for the subsequent construction costs and continue to receive reimbursements according to the schedule.  

There are lots of people who can help you learn what you need to know so you can take your first (and subsequent) steps.

If you did that, I don't think you'll have the subsequent issues.I have a SFH, originally on a septic tank, but hooked up to the city sewers when we bought it to conform to current code.

. $200.00 of each said $700.00 payment shall apply to the principal contract balance, with the remaining portion of the payment to apply to interest.The sale of the property shall be as—is with no warranties or representations to the character or condition of the The party of the second part shall pay all taxes, property assessments or impositions that may be legally levied or imposed upon said land subsequent to the year 2011.

No real General Contractor running a corporate enterprise would put up with a client buying materials.

I’m not answering your question but I’m just curious: Do I understand correctly that the mother AND son were your listing agents and that the son subsequently dropped you and became a buyer’s agent or became a dual agent?

., the stormwater and sewer lines were combined so I had several sewer backups and had a lot of push-back from the municipality before I could redirect stormwater into the street); Contractors didn't show up which gives subsequent contractors with a great excuse for them to not show up (i.e., the domino effect thing).In summary, don't partner with anyone, borrow money from a HML or preferably from your uncle Billy to get you through construction and then refinance it through the VA.

@Alicia Marks i consider myself lucky in that i took the plunge without getting into any deal paralysis. i did not know what i did not know. ignorance is bliss. i bought a duplex after looking for a month or two and just made a work. huge learning curve after the purchase, but i dove head first and am grateful that that was my path. in subsequent deals i utilized hard money and have become a huge fan of that type of financing. happy to share any other details if anyone else is curious.