Slocomb Reed
What to do with my $100k open line of credit
My wife and I were just approved for a $100,000 open line of credit on our home; we house-hack a 4-family near Over the Rhine in Cincinnati, Ohio. This quad is our only hold right now, our goal is to own enough rental...
Olga Levin
Lent money on second lien to a rehabber who stopped communicating
Hello BP community, Really need some help and ideas on dealing with this situation. I know I probably shouldn't have done this deal, but I have lent on 2nd liens successfully before. This one however, gone pretty bad...
Ryan Norman
Deal Structuring for Free and Clear Property
Hello BP family. I'm working on my first deal after about 3 months of marketing, and need some advice on whether it is worthwhile. This lead in particular was generated via my high equity absentee owners list (500 ...
Michael Seeker
Legal? Logical? What do you think?
I've been running over some ideas to raise capital and have come up with this...let me know what you think.
Note: This will only work as long as I can get investor loans on properties, so for potentially 10 properti...
Jonathan Johnson
How do you construct a private money contract?
I found a really great house going up for auction in 3 weeks. I would like to buy it with some friends and family money from the auction. Fix it up and refinance it into a mortgage to live in.I'm guessing this will ta...
Account Closed
seller financing- promissory note
Hello all,
I recently closed my first wholesale deal and have a few other deals in the works.
I will be closing on a deal next week on a property for 55k. It needs about 15k in work and has an ARV of 11...
Jeff Takle
Using a Solo 401(k) to protect real estate profits
Would be interested to hear if anyone has more/better/different information on this issue:
I just set up an Individual 401(k) for my consulting company, which is a single-member LLC. I'm wondering if this might also ...
Account Closed
Ideas for raising money quickly for next rental property?
My goal in life is to own as many rental properties as possible. I recently purchased my first duplex. I would like to make managing the properties my full time job. As everyone knows, purchasing and fixing real estat...
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Here's My Situation... How Would YOU Finance My Next Rental?
So last month, I finally bought my first rental. I did it on a 5-1 Option ARM. I also have the same thing (5-1 Option ARM) on my private residence. Now... I'm making interest-only payments to keep from going into n...
Abdenour Achab
Statute of Limitation on Notes secured by Trust Deeds - California
In California, the statute of limitation on unsecured promissory notes is 4 years from the date of the first default (with several exceptions). More generally, the statute of limitation on written contracts is 4 year...