If you would like to connect or ask question, feel free to reach out...Good luck!

The property rents for about $4K/month total.

This also leaves me with $3,750 stuck in the deal (not including financing and closing costs, which could easily add another $20,000).In total, if I had to include closing costs and financing costs, I’d have about $23,000 (if not more) tied up in the deal and lose close to $700/month before accounting for expenses.

Any unused funds from the engagement fee are typically credited to the borrower at loan closing, reducing your total cash to close.

feel free to call me any time

This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.

The recipient inherits your cost basis (what you paid) for calculating capital gains or depreciation.You and your spouse can each gift $17,000/year per recipient under the annual gift tax exclusion ($34,000 total).

It was free so worse came to worse I would break even How did you find this deal and how did you negotiate it?

Some people use their IRA to fund fix and flip's and keep the profit in them tax free. 

I’ve done a lot of research on these projects, so feel free to ask any questions here.