Lenders want to see two years of stable income before they loan money to you.

It sure seems like if this was a tv show those two had a secret relationship.

I'm fairly sure you can structure to sell a partial after a month or two of payments that would pay off the underlying $215K note. 

With pulling out your equity (or selling), you can diversify and buy more.I did sell one of my places and used that money to buy two others. 

And im looking at a quadraplex a 5 min drive from the casino.

A partner and I created a new LLC (51/49) in which two other LLC's have interest in.

I will say that they hve been telling me for almost two weeks now the tech team is working on the category link.

What I love the most is two fold, the interest paid back on the loan goes back to you, the fees to do this are extremely minimal. 

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option. 

There’s two components of household:1) the “who”2) the “how”“Who” is living together is easy: that’s the tenants.