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2 January 2023 | 6 replies
@Francis Nasser A CPA can chime in on this one but as far as I know, an interest-free loan isn't illegal per se but it is highly likely to trigger an IRS auditHowever, you could include a certain $ amount as a part of the purchase price and record it on paper as prepaid interest which could potentially circumvent this issue E.g, a seller is carrying $100,000 for a property with a 2% interest on 30 year am and a 5 year balloon (=10%).
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26 November 2019 | 96 replies
Just a few of the “extras” I provide are: - local coffee (we have partnerships in each city)- tea- creamer - sugar- sugar alternatives - Advil- tampons- condoms- bug spray- sunscreen- ear plugs - charging cables- TVs in each room- Pay It Forward cocktail bar I’ve mentioned it before, but between all of my homes, both past and present, I have never received a negative review on any platform.
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3 January 2023 | 4 replies
One more tip – people remember stories that trigger their emotions.
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31 December 2022 | 7 replies
Alternatively, if you are dead set on a 50/50 split, you could offer to personally guarantee the debt while their name would be on title but not the loanI've seen partnerships where one of the parties isn't bringing in any money go sideways more often than not.
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6 July 2018 | 78 replies
I dissolved my partnership with my sister and 3 of my RVs were sold, leaving me at present with only 2.
12 November 2021 | 6 replies
We discussed how to go about a partnership and whether to go with a percentage for managing or equity split.
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2 January 2023 | 0 replies
I invest from overseas and planning to expand my portfolio greatly through partnerships in the next 5 years.
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2 January 2023 | 3 replies
I would like to create a partnership with him so he can obtain financing in the United states with me to purchase property.
2 January 2023 | 4 replies
What I'm thinking:Bring in someone with CRE experience to the partnership and make them the sponsor.
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3 January 2023 | 3 replies
If you do buy together, make sure to create a formal partnership agreement that covers things like what to do when one of you wants to sell and the other doesn't, what happens if your sister stops wanting to live in a house-hack, and the like.