This is an uncommon unique contract.

He writes you a check for 30k, you pay him 6 points (6%) upfront and then repay his line over time - until you flip or refi the property.

Really the whole spectrum of real estate investment interests me; my way of looking at real estate eventually sees all the different avenues tying in together and creating one unique situation, whether that may be right or wrong I am sure I will learn a long the way.

, he'll scrap the eviction.Everything definitely depends on the states unique laws and apparently boils down to the judges view as well.

I think each project is unique and any split between partners should be established by contributions.I have been a party to many of these arrangements, on both sides of the ledger.

What GD has said is only partially true.Since you purchased the TLC and must hold it for two years and there is a tax sale every year, then you must also own the TLC that is sold the next year, or pay off those taxes without the guarantee of repayment in order to hold the righty in first position and claim ALL rights to the property.

If a borrower has the means to repay their obligation but simply chooses not to, then they should not be allowed to be released from their obligation in a short sale, IMO.

I will find a way to repay everyone here!

If you had bought penny stock with it and the value went down, do you think the lender should just say, ahh, that's OK, we know the market went down and we thought that was a good stock pick too, we'll just write off what you lost and we will continue in the lending business.How ever you want to justify it, you borrowed the money, you promiseed to repay it, so tell me, what is ethical?

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