I am thinking that we should put something in there that states that we will need to close within a certain time frame, too, since we intend to pay cash and the property is part of an estate--I don't want to end up waiting a year and tied to it, while it sits empty. 1) What is a good target closing date and how would we even word that?

I am thinking that we should put something in there that states that we will need to close within a certain time frame, too, since we intend to pay cash and the property is part of an estate--I don't want to end up waiting a year and tied to it, while it sits empty. 1) What is a good target closing date and how would we even word that?

Unless you have a huge warchest, it's tough to have that much capital tied up for so long. 

I have family in that area and it's not a highly desirable area to rent most people in that area have been there most their lives and rarely attract folks who have no ties to the area.

In this scenario, if only one of the partner's name is on the refi you could potentially work out another deal since you're tying up future opportunities by taking on the debt after the refi.

How long would an investor expect to have their money tied up for while working with you on a deal?

Originally posted by Account Closed:If i do a title research it shoes liens, equity, debts etc does it also show the real owner?

And it will always take the same number of hours.Solution:  Calculate your maintenance cost as a fixed expense that isn't tied to rent. 

You can get a slice of the commission for sending them the lead, and not have to be tied up when you could be working a lead spending multiples more.Oh and lastly, get a POF or preapproval after the first conversation!

@David M.For me, I don’t want to be partnered or in any way tied to a private or hard money lender long term.