If Borrower wishes to exercise this option to extend, Borrower shall notify Lender of Borrower's intent to extend in writing prior to the Maturity Date.Security for Payment: This note is secured by n deed of trust of even date from Borrower to Doc Prep 911, Trustee, both of which cover the following real property: Lots xxxx, City of xxxx, according to the map or plat recorded in xxxx, Map Records, xxxx, Texas.

Make sure you put in your contract with the GC some performance incentives to make sure the renovation is done on a timely manner.

I ONLY carry performing debt, debt that pays me to hold it.

Real estate is very similar to exercise you need dedication, repetition, and a solid diet (education).

When you are purchasing a multifamily property, the seller will be advertising the property performs at a certain cap rate.

Try to get a cashout refinance to see what the bank thinks it’s worth and how the business would perform with debt.

In the next 5 years, we can buy one property per year with 25% down (~100K), and perform the same operation of using cash-flow for paying off properties next 15 years and we will have $15K/month net-profit which hits our goal adjusted for inflation (assumed at 3%).

Background checkCredit checkPast performance.

After that, you assign the option and they exercise the option. 

@Dennis Boettjer be careful about basing your decision solely on past deal performance.