Hi,There is currently a for closure by the bank that will provide the property free and clear of any past tax debts and title.

Hi,There is currently a for closure by the bank that will provide the property free and clear of any past tax debts and title.

You have the debt basis on the partnership as you are on the loan. 

Legally(talk to an attorney on this), you might want to have a debt agreement between you and LLC to loan money from you to LLC.

I am from San Diego and went the "other" way and spent a $*%&^load of money to not learn much other than be in credit card debt and that there are SO many other ways to learn. 

He has the follows break down.Wholesaler makes:$4X,XXXSeller makes $9,XXXOwed on property: $1x,xxxAt night title sends me an email saying that the seller needs to bring money to close and pay off the debt.

I'd save the money on a credit repair company and put that money towards paying a debt off. 

Which might be OK, if you make great cash flow on it and have paid down your debt principle significantly before selling (not to mention the initial equity that you created through the initial rehab).

Presumptions we had on debt are being challenged.Other ideas being challenged are the views of doing all the rehab ourselves to save money.

Paying cash and having no debt is a great way to invest.