Is a good way to structure the partnership to have a general partner's right of first refusal, followed by a dutch auction?

Cash out refinances where the subject property was purchased within 6 months (measured from HUD-1 date to the disbursement date of the new mortgage) when no financing was obtained for the purchase are allowed under the following parameters:o The new loan amount must not be more than the actual documented amount of the borrower’s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points – subject to the maximum LTV/CLTV/HCLTV for cash out transactions.

On one hand, that's a pretty strong signal for what the market is... on the other, following the crowd makes competition tough... but to go against the crowd you're essentially saying you're smarter.My personal strategy is to follow the market and simply try to carve out better than average deals.

When I couldn't find any good discussions on here about it, I figured it wasn't very promising.Albert, could you keep us posted on how those work out, and maybe follow up with some details, rates, costs, etc.

All of this is a good reminder that I need to follow the procedures I laid down when purchasing properties.

They will not want to see any member with a low score (below 680, for example).For the second part of your question, they may follow that formula (which is a formula for conventional lending), but your LLC will not be able to obtain a conventional loan, rather a portfolio loan from your local bank, and they may well want to see signed leases and proof of a security deposit.

If it helps to know the details, they are as follows ... property is a luxury Hawaiian estate.

Maybe start off as a partner with someone very active (proven track record) in your target market.

Hello Jon, The detailed answer is quite appreciated, I realize it must have taken some time to answer in such manner, so thank you :) Some follow up questions:1.

I disagree about the charging the upfront fee makes a serious buyer.I can't tell you how many scammers I have seen in the commercial lending arena.I can say one problem lenders face is they get a package submitted to them and then give an LOI.Then in due diligence the buyer finds out the income levels and returns were not as stated.Now the lender wants a bigger payment down from the buyer or the buyer has to get the seller to reduce to the actual proven numbers.The deal falls out and the lender made nothing.The way to solve this is submit a detailed and verified package upfront.This way you know the numbers you are sending have been verified.Lenders site confidentiality etc. when doing loans so you can't verify other properties they have closed.If lenders state money has to be in escrow or a deposit have YOUR attorney hold in an account the lender does not have access to or authorization to.This way the money can be shown to be there and earmarked for the purposes of the loan.I am telling you these scammers will do anything to separate you from your money.I know some deals I wasn't involved in where the people chased the lender for 6 months to get back 500k.Do not let lenders PUFF fees.If they say they have to pay for appraisal then tell them you will pay the appraiser directly.If you are a legit lender and you make money when you close a loan you should have no problem with this.If however you are a fee generator mill and you hardly close anything or a point taker with upfront fees I can't tell clients to work with you.Some point takers take money to submit apps knowing the lender will not close or that it's a sham.They usually charge a small amount upfront to entice the victim.Usually 500 to a few thousand.