This is outside of the normal loan fees like title, inspection, processing, etc.1pt = 1% of the loan amount.With most hard money loans all of the costs are taken out upfront from the initial loan.

As for roommates and sub leasing you have to dig into the contract to verify the restrictions.

We talked about this on another thread and there seems to be no reason to use more than 2 notes at the most.Humm-now let me think about that :idea: You could possibly do this as a wrap where you are initially structuring a 2nd and a 3rd behind a first but, you would have to make sure you set this up in a way so that you could quickly sell off the second at enough money to pay off the first-so that 2nd would become a first once the 1st was paid off at the note sale/funding....

it's buildable and 500 ft from water - not in flood zone.we got copies of the original contract, and i verified that the property is paid current on taxes.the lot has 80 foot frontage and is 120' deep.

I tried expaining that your credit score will probably go down when you initially purchase.

Its great to start planning the financial aspects of funding the deal from the very beginnings.With that said i will say this that you must contact a real estate attorney to verified this or do some dual diligence on your part to see that entity is best for buying real estate.

It is anticipated, given the track record on sales of Tower I Units that property appreciation for initial buyers of Tower II Atrium Units will be at least 70-80% on completion and turnover of units from December 2009/2010Executive Studio Suites Price May 1, 2006 Lancaster Suites Manila Tower II Executive Studio Suites.

This person would be responsible for going out an inspecting your deals and verifying all the numbers.

I am filling out a prequal form for preconstruction loan and they are asking to verify that i have 25,000 in assets, credit above 680 and at least 6 months of mortgage payments available.

They get a realtor to come in and tell them "oh, this is nice....I feel confident listing this for $220k" but you have no idea if they got a dime over their initial investment or got more than the listing price.