Those who have successful partnerships often stress the need for complete transparency and clear communication from the outset.

this sounds like a perfect option for me sell a 10k option for a year with set price I can buy the option out at.

It sounds like I am not in a situation where it would make sense.

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

Keep in mind you will also likey be paying transfer taxes on assessed value of the property in order to complete the transfer even if transferred for a $1 or a "nominal amount".

Given the complex nature of investments and personal finance, I want to make sure I'm making informed decisions right from the start.From what I understand, a fiduciary financial advisor is someone legally obligated to put my interests ahead of their own, which sounds reassuring.

Hey Casey, Sounds like you have funding for the initial purchase, however need help with the exit strategy and possibly the rehab costs.

Getting started is the hardest part of anything, but it sounds like you already have experience renting, holding, and managing property.That's one part of the BRRRR process that is no longer a mystery for you and I think that is awesome.If there are prospective deals that you are considering and would like some assistance for reviewing the numbers, that is one of my favorite parts of being a lending partner.

I completely agree with @Bart Hedgcock, my .02 from personal experience with Phil:  My wife and I took his weekend "vip" training last year, and it's a very well done introduction to several strategies and methods for creative REI.

Sounds like the secret is out and there's a lot of investor interest in Reno already.