But then UBIT may not apply on rental component of the income.

I second NaveenWe just finished our first international syndication by building units in a new resort development on Ambergris Caye in Belize.A good rule of thumb to look for is jurisdictions that use British Common Law as their basis of law.You have 3 major systems of law around the world:1.

You have to observe corporate formalities with minutes etc on all major transactions you do.

Your plan seems pretty good, but it involves risk with out of area rehabbing, and major dependence on your partner to make it work.

I am working with a big law firm to have a few borrows submit loan applications to major banks and see if the underwrites will take the bait and approve the borrows that cannot afford a home.

Anything major I should be concerned with?

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

Every major lender was there as well as their attorneys and other attorneys as well.

If you subordinate, you have taken steps to stabilize the property since now a majority of the old 12% debt is now at 6%.

My name is Lenny and I currently live in Long Island but spend the majority of my time in NYC due to work.For years I have always been interested in becoming a Real Estate Investor, but have either let negative people talk me out of it, or let small things or my lack of knowledge hold me back from moving ahead.I came across this site by randomly typing in 'Real Estate forums' into Google, in hopes that in this day and age there is a forum for everything, and sure enough I was right.After browsing the site for a few minutes, I thought for sure it would prevent me from accessing any extra material due to my past experiences in regards to Real Estate knowledge.