Ben Beard
Build Spec House on someone else's lot
21 March 2017 | 7 replies
Well unlike Account Closed advice I don't think he saved you 25k in fees LOLthis is quite simpleyou have the developer sell you the lots.. on contract .. the developer then subordinates his beneficial interest in said contracts to the Banks construction loan.. you are the owner you build and then sell.You can do a participation note with seller.. so they get a fixed number plus a little interest on the note and then a % of profit if you wish.now the only wrinkle will be if the construction lender will allow a junior loan on this and you having no real skin in the game.If the construction lender wants the lots as true equity.then you would need to for a JV agreement with developers portion the lots.. and what ever your business arrangement is.. if the developer has less than 20% interest in this newly formed LLC for these two build jobs.. then they will normally not be required to sign on the construction loans.Construction loans in today environment are very tough especially specs.My Portlandia bank will give me 12 specs and my Charleston bank will give me 6. so i can have 18 homes going at one time.
Michael Knudsen
Hello from Los Angeles
24 March 2017 | 7 replies
I look forward to becoming an active participant in this community, and hopefully putting deals together with some of you in the near future!
Matthew Wolfer
Massachusetts and Rhode Island investor group
21 March 2017 | 6 replies
I'm a 21 year old college student studying finance and economics at UMass Amherst and I'm graduating in May.
Eduard Tanasov
19 Year Old In need of assistance
22 March 2017 | 17 replies
Hi BPI'm a 19 year old college student who is also working part-time as a delivery driver at jimmy john's.
Richard Santana
New to BP and looking to start investing in rental property :)
11 June 2017 | 11 replies
Forever a student,Richard Santana
Lane Babin
Newbie from Lake Charles, LA
26 March 2021 | 16 replies
Am I required to be a subscribing member to participate in PMs?
Jack Napier
New to real estate investing.
21 March 2017 | 4 replies
Are you wanting to build capital and participate in a more active role as an investor?
Ashley Langeliers
tax code income limits
31 March 2017 | 11 replies
Passive losses can be used only to offset passive income.The key issue with passive activity loss rules is material participation.
Melvin Noriega
This Introduction Was Very Long Overdue
20 March 2017 | 3 replies
I have been a member since November 2015, but never actually took the time to participate in the forums and I kinda regret that.
Sonu Sharma
Partnership between 2 individuals - written contract
21 March 2017 | 6 replies
It is free and the students are working under the supervision of licensed, and often extremely knowledgeable attorneys.