This is much simpler, faster, and cheaper if it’s obvious all is lost anyway.3)You can ask for an extension under the identical terms and make payments to the HML using your own money, or that of a new partner, for as reasonably long as it takes to sell or refinance.4) If it looks like things are going well but you simply need more time and don't have any more cash, the HML might agree to convert your loan to accept all interest, points, and principal, when you sell.

Next, you have bathroom and kitchen fixtures and that requires some basic knowledge about how long you want stuff to last.Personally, i dislike major rehab because you're constantly dealing with unanticipated contingencies that would eat up your funds very quickly.The above was what i learned managing the renovation of a 16 unit with partners.

If I do set up my own real estate brokerage office as opposed to working with a non-licensed partner, will it be ok to use my existing LLC to buy sell and broker properties, or do you recommend setting up a new separate LLC?

I also removed your mentor request; any kind of request for partners, mentors, deals, etc., needs to be placed in the appropriate areas of our forums.

With labels, you can find people based on one or multiple markets they focus on, the various "occupations" they may have (eg. investors who are also commercial brokers), based on their experience, and so on.For example:I want to network with investors who operate in the Los Angeles and San Diego markets, who are landlords and who have flipped at least 3 homes, you can now do that on our FIND MEMBERS page using filters.Since the filters are brand new it will take a little bit for the data to get populated, but we will be adding new labels in the near future that will allow us to all better identify ourselves for potential partners and colleagues.I hope that helps.

This lets you leverage your capital to do more deals.The refi for most investors is to get the lower rate locked in and get some cash back to invest again.If you run out of cash or have "trapped equity" and little cash left then you have to partner with other investors to do deals.I have seen it work sometimes but generally it is a mess unless you can do multiple deals with one partner instead of partnering with one investor for this project and another one for the next.The problem with partners is down the road they get different reasons for selling or exiting the property early.I don't see the refinance bank loaning up to 100% of current value and letting you pull out the 30% and get it back.What many investors do is take on a property with maintenance and vacancy issues using hard money.Fix the problems and then create a higher value for the property.In commercial the weight is given to the income approach.So if you had 50 unit building.Units rent for 500 a month but are 50% occupied.So currently 150,000 gross income yearly.Value roughly at a 10 cap at 750,000 going in.You get for 600,000 and put 150,000 in repairs fixing problems.Total funds needed is 750,000.HML says they will fund 525,000 and you put down 225,000.You work hard and get occupancy up over 6 months to 90%.270,000 gross rents with NOI around 135,000.New value at a 10 cap for refi is 1,350,000.Refi at 75% LTV would be 1,012,500.You get 262,500 back and then your original 225,000 you put down based on the new value.I hope I am making sense.

Fortunately me and my two partners have our own cash to purchase these houses at 20-30K a pop split three ways.

So, I have a partner and have been given the opportunity to attempt to present to pre forclosure owners in an attempt to get them under contract.Has anyone had luck in using Facebook as a means to make an initial contact?

"Dummy ads" or any other means of fooling potential future partners are not the way to build your business, despite what any of the gurus may tell you.

(flip not hold) with him being a 100% financial partner.