As we get more experience, our plan is for one of our partners to become licensed so we can do this ourselves.

GP will also get class B for management and syndicating the deal.2) We give our limited partners a regular preference in liquidation (i.e.

You are also basing ARV on converting it to a 3 bed 2 bath.I wouldn't touch a conversion unless there are other 3 bed 2 baths on the street.If just mainly 2/1's then you are going to have appraisal problems and getting buyers to offer on it.Nobody usually wants to own the most expensive property on the street because it appreciates the least and in a down turn loses the most value.Also I believe "I am not sure" but maybe Will knows is that the HML lender wants a qualified contractor to perform the work and will release the money draws once stages are completed.Also some of the work the city or county will require a license for you to do and you will not be allowed to complete the work yourself.It depends on local codes and what they require.You also have to factor in carrying costs and do overs.If I do something that normally costs 1,000 using a professional myself for 600 with parts but it takes my 3 times longer to do it and I mess it up and have to buy parts again then it's not smart.What you have to do is to find qualified contractors to get the job done quick at a below market price.You keep repair numbers low this way and turn times high.If you start a flip a certain time of the year and miss your list date you can be in a world of hurt when the slow season comes rolling in.You might sell at a real low value or not at all while holding costs from the HML eat you alive.You will also many times need good credit as all the HML's I talk to like to know if the investor has trouble selling the HML has a regular lender they partner with to put the investor into a regular loan and pay them off.

Hi Dan,My business partner has used the strategy of leveraging her Index Universal Life Policy to invest in shorter term investments... including lending on short term flips.

Are they useful for learning and connecting with investment partners or funding sources?

Instead I would set aside enough to live on for a couple of years, and then partner up with an experienced invester.

You could find a private investor to partner with you to buy a package of REOs - this would look like HML except you could try to convince them to agree to interest only payments and put a two year stop at which point you refi and pay back the principal.

Maybe you should sell and take some profit or find a partner.

In process of buying an investment from Wholesaler, a Short Sale, have cash with our Corporation, but it is a restricted 401K which cannot do partner & or have loan docs.

I'm here to either find a good deal or find a partner that would want to do a deal with me.