Plenty of great news and awesome podcast.

I once insisted on reading the 25 pages of documents that accompanied a no interest lead renovation loan.

Since we have all documents signed, and nothing recorded or funded at this time, they are clearly going to have some legal issues if they don't make it happen today.They claim they have not recorded yet as they wanted to insure things where as advertised...

The app is: Free PDF to Audio Offline - Reader : Professional Read of Your Text Documents - Fast & Stable by Peris Copehttps://appsto.re/us/ZhUYab.iIt's not great, and the voice is very "Siri-Esk".

Anyway, stucco means that someone has gone through the effort of redoing the siding with stucco which is a costly process and good news for you the prospective buyer!

Again, i used the percentage method as a first go round.  80x12x10 = $9,600So to sum up, my GSI calculation for the deal So based on my new #s, it looks like the purchase price should be around the $400k mark, not the $650k mark based on the provide cap rate.Now reviewing the pro forma #s in a rental calculator, this deal does cash flow (assuming 20%down and financing).   

Last I heard, the broker said they hit a "snag", and he is transferring all the documentation to another financing source.

I also tend to think most JV's are not proper joint ventures and are more like two folks, albeit entities or people, trying to work on something with a very loose document tying them together.  

My biggest tip for you is to be super organized and use software that can help you keep track of prospects, tenants, property information, legal documents, you name it.

You lose 6 months time of cash availability (perhaps 4.5 months since it does take time to get the refinance) where you may have been able to buy 2 or 3 more properties in that same 6 month time frame using my method rather than buying with cash.With my method I pay no lending costs with my first purchase since I use loan documents already created by an attorney for another loan for which I participated.