@Nathan FrostThe advantage - some will do 90% and 100% construction but recognize your signing a personal guarantee and will be paying 10-12%+ for interestBenefits of a private lender are speed to close, creativity in cross collateralizing etcThere are a lot of people on BP that think oh private lending is less strict than banks and easier to get.

While some states have better protections for LLCs than others, when it comes to real estate courts prefer to recognize local protections.

Or if they were trying to avoid taxes that still helps as the can recognize the sale over the term instead of all at once.And just fyi there can be a situation in probates or trusts where there isn't enough liquidity, combined with multiple properties/assets, especially if they vary widely in value, where a mortgage would be attained by one or more of the heirs in order to equalize the distributions when some heirs want cash and others want the "asset"(house/business/art work etc).Tyler Mullen, CFE

So it is important to figure out your market and your strategies to become an expert at analyzing deals and recognizing great opportunities when you see them. 

Make the most of your time before you get a contract for sale to saturate yourself with market knowledge so the instant you recognize a deal you can grab it - and don't forget that you can go into contract for your purchases before you sell. 

I still get caught in that trap and now I at least recognize it (sometimes) and tell myself to just push through regardless of how prepared I am.

If it went into foreclosure i am pretty sure the second would be completely wiped out (although I recognize that rational arguments like these don't always work with the banks).I have authorization from the seller to talk to both banks so I am going to get started on that on Monday.I'd appreciate any advice you can offer this newbie on what could be my first subject to deal.

Some people call an arrangement a joint venture, but the arrangement is really more like a prime-subprime contractor arrangement where one party (the prime) recognizes all the revenue and any funds split with the other party (the subprime) is treated like a deductible vendor payment. 

You will receive a tax benefit for buying in these areas that the government has recognized as needing revitalization.www.diversifynevada.comorwww.clarkcountynv.gov...and search for opportunity zone

Due to credit again I can't or dont know how to refinance property 2.I recognize consumer credit as being a constant limitation so I've started establishing business credit.