He paid $95k for it ($80k on a HML at 14%, the rest on CC- was 0% now blended at 11%)A family friend/contractor agreed to do the work in exchange for profit- a 60/40 split (this was the best option since my friend didn't really have the funds to pay someone up front).

They need profit centers.

If Andrew M's methods work well (and profitably), I wouldn't see any reason why to change a method that already works well.

No problem.However, representing the client and then putting his property under contract and reselling it for profit as his broker is a whole other, which is what I believe Andrew is talking about.

Not exactly profitable for me as I have made nothing for my efforts thus far.

If we send in the new P/S with the total amount due they will either keep it or think the seller is profiting from the sale.Hope that helps.

Subtract that out, and the cost of the current labor force is much closer to the labor costs of foreign manufacturers operating in the United States.GM's overseas divisions are actually profitable.

The use of the proceeds for cash out needs to be documented.At closing partial release will be defined in the note.Need a strong file-3 years tax returns, personal financial statement, etc.Must show a profit on Schedule C of returns.

Please don't think me lacking Christmas spirit, but why would this site solicit donations when it's an advertiser-paid for-profit commercial board?

So in theory, if there was a ton of equity in a property, could they cash out just prior to selling, take the HELOC or Cash Out re-fi money tax free, and then sell to cover all liens on the property and have a much reduced "profit" from sale, so much so that they wouldn't owe any capital gains.