Let me be sure I understand. I have a property where the seller is willing to carry 75% for 10 years. So, is there any reason I wouldn't want to go get a non-conventional rental loan for 80%. Then offer the buyer t...
Hello BP Family! I have a meeting with and old friend that has become a lender and am scheduling a meeting with them. Any ideas on what questions I should be asking him? I have a house that is paid off and was thi...
I invest in Tax Liens/Deeds in Alabama. I purchase, rehab and rent. I pay back the private money monthly calculated as a simple loan. I mentioned what I was paying to a seasoned fix/flipper that told me I was paying...
Hi all,First of all - big thank you to the BP community. The knowledge I've gained so far just by lurking has been invaluable. Apologies for the lengthy post below, but wanted to include as many pertinent details as p...
I am currently confused on how I would exit a seller financing deal that has a 5 year balloon in the P&S agreement. For example let's say the terms state that the purchase price is $380,000, DP is $19,000, Amortiz...
What is the best method to use other people’s money with a self directed ira? My goal is to use money in someone’s ira (whether my mom, mother in law, or family friend) to purchase real estate. I haven’t talked to a...
Happy to say that I have a friend/colleague who is ready to invest $150K no interest for 6 months and we will be doing a flip. The cash advance will be on a simple loan document, not secured by the mortgage of whate...
Hi BP,
I am putting together hard money investors to fund flips. To protect everyone involved, we will be writing up notes for the loans.
I see on LegalZoom there are 4 types of promissory notes:
Amortized, Balloo...
In my search for understanding how to finance my second property with a business loan, I came across the DSCR route. This video helped me, as a business financing newbie, understand what a DSCR is and why it can be a ...
This May my fiancée and I graduate college and will commission into the Air Force. Since we both did ROTC we each have access to USAAs career starter loan which is a $25,000 loan at an interest rate of 2.99%. If we ta...