This provides you with a safety net for any unexpected expenses during the rehab process while also potentially allowing you to secure higher leverage on the purchase price.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

For example, I have a main account that is for my holding company, sub-accounts for each property, and sub-sub accounts for security deposits and things like CapEx for each property.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value.

You are not responsible for his failure to secure his personal property.

If you google the Wyoming address it is an attorney's address who specializes in setting these companies up and is a mail forwarding service not a "real" office with staff, owners etc.In the one investment document I read, your investment would be in a construction company with no assets and secured only by a UCC filing.  

Utilizing my relationship with a great local lender I started the process of getting a secured line of credit set up against the 3 unit so I could pull most of my money back out.