I'm still looking for my first property and I have a lead, sort of.

. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

My question is… Do people promote buying rentals due to some sort of  personal benefit/conflict of interest?

Ultimately it was sorted because I clarified they legally had a joint responsibility to pay the total rent and there wasn't even an option for "half" the renters to pay late.

Has anyone run into problems with this sort of lending?

It often takes new organizations similarly long times to get that sort of information.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.

Jon Wolfe, the founder, is a friend of mine so let me put you in touch with him and his tech team will help you get it sorted out.

typically no special license is needed when doing it for hard money loans that I am aware of. there may be states like california and nevada that are tricky where lenders need a license of some sort but for most part brokers i have seen are not licensed. 14 or 15 states require state license and NMLS registration.

Keep up the self education and try to figure out some sort of unfair advantage that you may have.