Hey BP,Myself and a partner found a motivated seller selling a duplex in our area and have just signed the deal today.

SDIRA loans are all non recourse loans & would usually require up to 50% down or so.You can partner with anyone that is a Non prohibited person such as a friend, siblings (vertical lineage relationships like your father or son are prohibited but your brother is allowed), other investors, etc.

And sometimes it never gets approved.Most banks and lenders won't touch land for that reason.If you're not experienced with land, partner with someone who is.

My partner and I own a couple properties that we rent and we are finally motivated to take things up a notch.

deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

Feel free to send me the details...my partner lives pretty much in Woodstock...The $15-20K in rehab is the number I'd question the most...unless the house is less than 20 years old, in that area, the rehab will likely be more than that...

My partner was amazed that the smell was gone.It is worth a try, cost me $2 for enough to spread throughout the house (1,200 sqft). http://www.amazon.com/Arm-Hammer-Odor-Elminator-Carpet/dp/B0014B36HS/ref=pd_sim_indust_1

I have a business partner who is doing this with me.Any suggestions?

Hello,I am Elizabeth Quintanilla and became partners with my fiancé to form Rockabilly Investments.

I'd like to have partners and make things happen, rather than break up possibilities.