@John Cameron  go to your profile page right below your name it says Realtyshares.comfurther below in small writing it says Seattleshares.comcould be a typo on your profile page.I started in HML in 1985 and Mentor with the master Jack Langer in Oakland. and I can 100% tell you that relationship with your borrowers is worth 2points all day long and borrowers are not going to jump ship for small % they turn the loans to quick and its about scale and time and knowing for sure you have a deal.And as you say many rehabbers are not that great businessmen and I can tell you any that are not great would never get by a prudent portals underwriting at least not RS Patch of land or REalty mogul all of how I am intimately familiar now there are some hac portals out there that made some major boo boos but no more .And SEC has NOTHING to do with the individual underwriting of a sponsors deal ... there is no uniform underwriting criteria a portal has to follow .. just like me as a HML there is no underwriting guideline I have to follow unless I am tagging the loans to my credit line at the bank and or using PPMS.. but when its our own cash we do what we want..

And I quote;"My monthly expenses are about $2500 for the next 26 years"And then you write;Expenses:Mortgage: $1600 HOA: $450 per mo- includes a bunch of stuff that nobody cares about)Land Lease: $170 per mo$1,600 + $450 + $170 = not $2,500.

But I don't think you should be writing your own operating agreement for a 50/50 partnership.

We would like to hear others and make some network and friend circle to learn more.I can just continue to write for me non stop but I think I will stop here and see what this wonderful website will have for me.

Take a credit card statement or something legit showing your scores.If you have good references from past clients, get it in writing.

@Heather Lavergne yes this is a problem because they are not going to write a loan without appraisal.

I had to write "a strongly worded letter" explaining why I would be willing to increase my commute by so much.

What about the purchase agreement; do I write it the same way?

The local lawyer wants $1000-$1500 to write one.  

@Himanshu Jain  you could also pay a civil engineer probably 500 to 1000 bucks and they would write it out for you that is specific to your location and jurisdiction.I do this when I am looking at new areas.