Quote from @Jay Hinrichs:There were no profits from this deal, but the sponsor is offering promissory note with payback from his portion of profits from other deals, in no way related to this one, other than being from the same GP.

She reached out to me and asking if I can waive the late charges because she laid off and looking for a new job and she doesn't have the rent for now and no time frame to pay the rent.My answer was no and I offered her to pay what she owes and move out immediately before I start the eviction process.

Often people fail to inquire deeply about because no one can see into the future.

This definitely sounds like a case where you will get no money back if you have to chase it.

And no matter what, straight percentages of the income don't work...unless of course you slide the percentage around for the above-named variables, but at the end of the day your resulting answer will break down to $/unit so you might as well just start there and dump the percentages.

Wholesalers here is my buy box:Morris County, Passaic County, West Essex CountyFix and flip: 3 bed 1 bath under 3k square feetModerate to heavy rehabNo double yellow lined streets Areas with strong school district  No areas with high crime No septic/cesspoolBuy & Hold:10-50 units or portfolioNo mixed useValue add properties onlyNo areas with high crime No septic/cesspool**If you have a deal that meets this criteria and you're direct to seller please DM me.

In May, I reached out for an update and to see if anything else was needed from me, but no response.

- still no debt or are you considering a cash-out refi now or in the future?

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

With an assignment, its much simpler and there are no costs for the wholesaler.