Not to mention you will need to have your team able to carry the note AND have permanent financing in place.

If you can just assume the loan and get a owner carry for the rest of it, it might be a good deal

I see many firms partnering with each other to carry out developments.

Buy with an owner carried note (either entire thing, or you get bank funding and owner carries 2nd).

The holding costs will add up and it's too expensive to carry a big inventory of properties.

Sounds like the seller actually sold it to your friend using a seller carried mortgage.

I completed 1 flip and in the middle of another in Philly both just paying closing and carrying costs.

I thought i'd add a couple of things:Sub2 is the best way to BUY, dont sell that way.Land Contract - Installment Sale - Agreement for Deed is a great way to buy, dont sell that way, and dont do it in TX.Seller Carry Back - Wrap - AITD is a great way to buy, dont sell that way.There is No Due on Sale Clause jail.

That can certainly be one of the benefits.Also, good PMs don't grow on trees and as they get bigger they tend to get lazy and cherry pick, which gives someone new and hungry an advantage.But understand, I wasn't managing 'Executive Rentals', but places where the guy I hired to mow the lawn felt he needed to carry a pistol.The easy 'niches' are already taken, but there's always room where no one else wants to go.

If you're just a little underwater after all the costs, ask your lender(s) if they will carry a loan for the difference.