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21 October 2020 | 4 replies
Can either of you gentlemen - or anyone else here - advise if it would be possible to structure this purchase as a business loan?
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25 October 2020 | 8 replies
If you delead, and maintain the standard, you will be in the clear.Here's the law (emphasis added by me):460.100: Duty of Owner(s) of Residential Premises (B) Whenever any residential premises containing dangerous levels of lead in paint, plaster or other accessible structural material undergoes a change of ownership and as a result a child younger than six years old will become or will continue to be a resident therein, the new owner shall have 90 days after becoming the owner to obtain a Letter of Full Compliance or a Letter of Interim Control, except that if a child younger than six years old who is lead poisoned resides therein, the owner shall not be eligible for interim control, unless the Director grants a waiver pursuant to 105 CMR 460.100(A)(3).
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20 October 2020 | 3 replies
If you are all putting in money and all doing work on the property the legal structure should be pretty simple.
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20 October 2020 | 2 replies
I'm curious to hear how those who have partnered on deals where someone else brought the funds for the deal, how did you structure the deal / returns?
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25 October 2020 | 14 replies
Nonetheless, you numbers above would look like this:$55,000 - Purchase price, including $5K closing costs$30,000 - Down payment$25,000 - 1st Loan$100,000 - 2nd Loan - Not sure how you structure your financing, but I'm assuming this money is borrowed as well.$125,000 - Total debt on the property$200,000 - Sales price$12,000 - Commissions$188,000 - Sale Proceeds$63,000 - Check from closing ($188k, less the $125k debt)$33,000 - Profit ($63k, less your initial $30k down payment)
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9 November 2020 | 3 replies
This could be an LLC jointly owned by the contributors or a Joint Venture agreement, but you'll be thankful for this structuring 5-15 years from now.If you are using OPM to take down a property and you'll be cashing them out, then you don't need a structure like this necessarily -- a promissory note and related instruments can be used and then once the cash-out happens they are paid off and released and you own it pure and simply.
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22 October 2020 | 3 replies
Hello. I am just starting out and looking for partners. Can any one recommend a proper equity split in the below scenarios:
Scenario 1:
Partner 1 is a season real estate investor that has done several flips, BRRRRs,...
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12 May 2021 | 16 replies
This is a 2 story structure with a total of 4,323 sf but only 1,983 sf foot print.
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21 October 2020 | 1 reply
There are a variety of structures you can use depending on how many investors and their role in the deal.
22 October 2020 | 4 replies
Person D and I have been making plans for a few months to partner on a project under this structure.