If so and you have the money to pay then just work out a draw during this phase for enough money that works for him & then deduct it from the profits when they are divided.

In NJ this wouldn't fly if the lease was executed AFTER the complaint and subsequent lis pendens was filed.

The taxpayer is required to pay back the installment repayments starting on the tax return for 2010 and continuing for each subsequent year for a total of 15 years.

Thanks.I am drawing up a new lease right now, and have a couple of additional questions.When the tenant initially moved in, he paid 3 month's worth of rent - first month, last month and security.Therefore if he does not renew, he does not need to pay last month's rent, and the security deposit is returned to him after I deduct damages.If he does renew, and I wish to raise the rent say $100, how would I handle the originally held security deposit and last month rent?

Be sure it states no where in there that it is a down payment.You will want to be cashflowing on the properties as well if your not and you have issues arise you dont want to be paying out of your pocket for a property that you don't even own(sandwich LO).I would definitely read up and ask a ton more questions on LOs and be sure to have an attorney draw up a contract as they can be complex if you are not familiar with them.

To subsequently sell the lot only will require a release for the mortgage lender and probably a partial payment to the lender to get that release.On the other hand, we have had many lot financing done with local brick and mortar banks and credit unions.

I started off with buying, fixing and renting 3 of them and then I got lines of credit on those from a local bank that I can draw on to purchase more properties.

This goes beyond the loan payments consideration.Some members accept returns and cash flow far too low for the investment to survive any challenges without becoming a money pit - thus the investment turns into a liability and a draw on the balance of the investment portfolio or other sources of cash flow.

Hi @Anna Warren - to answer your question, each subsequent message you send to them, no matter the medium chosen (postcard or letter), should build on the previous message.There's a great course by Dan Kennedy called "Magnetic Marketing".

Certainly some cosmetic stuff but nothing major i can tell, will have full inspection before closing.My plan is to pull a 90% HELOC from my primary residence of about 70k (terms are 1%/mo of total draw and currently 4% rate, id have to come out of pocket for appraisal) and put down 25% on the quadplex and use about another 10k if needed to spruce the place up a bit.I get the feeling the place is being managed by a neglectful management company so i'd like to both get the place looking a little homier and get some loyal tenants in the other three units.I hate to wait the 4 weeks my bank says the HELOC could take so im also thinking of putting in an offer with EMD and playing the clock to close the HELOC and mortgage around the same time.My primary concern is that i may not qualify for the HELOC due to my DTI despite having a 750+ Credit score and about 6 years of rental income history.