Thanks10 new Development LLC, A new jersey limited liability company.This certifies that Borrower Name1 is a member of the above-named limited liability company and is the owner of Fifty (50) units and is entitled to the full benefits and privileges of such membership, subject to the duties and obligations, as more fully set forth in the Limited Liability Company Operating Agreement.Whereas, Borrower Name1, hereby sells, assigns, and transfers unto Lender Name, successors and/or assigns as their interest may appear his Fifty (50) units Membership Interest in consideration for a loan in the amount of $Amount.00.IN WITNESS WHEREOF, the Limited Liability Company has caused this Certificate to be executed by its duly authorized members this Date 2024.

That's why past owners relied mostly on duct tape..Yesterday someone emailed me about buying at 120k all cash - their reason for buying in the hood: they are risk averse and don't want to take out a loan, as they perceive that as risky.

We have lenders that will loan based on ARV, so you can keep more of your cash in your pocket if necessary.

Of course,the private lenders usually want equity.We want to move to exclusively using private money (on a debt loan) and cut out the hard money. 

If I have a 6 months gap work history can I still get get approved for a loan? 

There is a balance of roughly 320k left on the loan, and the home is valued around 660k-700k.

If its close, perhaps they will allow yuo to sign a loan with them to pay off the remaining amount.  

The bank loaned 75% on a 30-year fixed loan with a 15-year balloon.

Realize this would not produce much cash flow.Add the ADU likely would cost more than the value it would add and you would lose your great loan.  

With FHA or 5% conventional loans.