The last two I did netted over 24% APR and one of the borrowers contacted me again this morning for more funds.

Once the structure is determined (straight APR interest for a fixed term or that plus share of profits), what kind of legal documentation is required?

Please feel free to comment or offer advice.Year 1:- find an apartment to rent that's closer to work (I commute about 1 hr, 45 mins one way)- pay off debt (~$10k student loans, ~$5k car, ~$3k credit card @ 0% apr for another yr)- live frugally and save as much as I can (my goal is to save $20k)- learn as much as I can about real estate investingYear 2:- decide on a market to invest in (*)- decide on a strategy (leaning towards buy and hold, either single families or small multi-families)- start creating systems for marketing and lead generation (I think this is key for my long-term goals)- possibly start making offers (depends on financing and location)- save money from job income (goal is $40k)Years 3-5:- make deals- seek higher salary(*) NYC and its suburbs are quite expensive.

As a person who owns real estate in Utah and has worked with multiple investors in/from Utah, my advice based on personal experience is if you are not from Utah, do not put your money in Utah.Go to ski.

I contacted my online lender after 2 months of purchase and got the cash out process going, the house appraised at $265k and at 70% LTV I was able to pull out $185,500 on my cash out with no origination fee, 4.5% APR, 30 year am, and $1k lender credit at closing.  

We set the closing date for March 31 just to be safe.Bank mortgage guy jumps right on it, gets us a pre approval letter in about 3 days.  

We have a mortgage broker that works with us and does a "pre-qual" to let us know how long it will take for them to qualify, and we have a paper trail of the downpayment as well as the rents.  

If he is funding the purchase and rehab then I suggest an 8% apr preferred rate off top of gross profits, then he gets X percent of remaining net profits... 20-40%*** because he is taking the entire financial risk.

Then attach a pre-approval letter from a lender showing you're approved for the loan.

With that I am looking at a pre-tax profit of $43,000.Should I go through with this?