Jim Workman
Promissory note verbiage for multiple draws
We are trying to create a promissory note for a fix and flip project where funds will be released based on completed milestones. Does anyone have a good example of such a clause?
Brennan Lytle
Holding Costs
Hello! I was wondering if there is a rule of thumb for a percentage of ARV that goes into fixed costs. Thanks
Zach Matson
The 3 biggest differences with land/new construction deals from flipping.
I transitioned from flipping to new construction basically at the beginning of the pandemic. The 3 biggest differences in land/construction deals vs flipping are:
1. Time - Unentitled land takes 2.5- 3 years to go fu...
Ben Baye
Cross Colateralizing equity to purchase multiple properties!
I just purchased my first duplex and during the closing I found out something interesting about the use of equity to purchase multiple properties. I’ve never heard of this and wanted to hear other people’s thoughts. M...
Adam Steinberger
Deal structure -- creative ways to sell portfolio
I have a real estate portfolio worth around 1.5 - 1.75 million. I have a business partner who wants to buy it, but doesn't have the down payment. He's willing to pay a premium if he can figure out a creative way to do...
Christopher Perez
Real Estate & Lending Go Hand and Hand..same language not so much
Terms in CRE lending that everyone should know...Adjustable Rate Mortgage: Mortgage where the interest rate adjusts periodically up or down through a set index. Also called a floating rate mortgage.Adjusted Gross Inco...
Peedy R.
Condo conversion on multi-family that is joint mortgage financed?
Hello!This is a follow up to the thread I posted here: https://www.biggerpockets.com/forums/311/topics/59...It appears that multiple buyers can get a joint residential mortgage together, so that is solved.My question ...
Leondro Brady
LLC or primary residence?
Hi guys, first property buyer here! Woo!I'm talking to a lender, and since I don't currently own anything, he's suggesting that I go with a primary residence and rent it out under that proviso rather than making it an...
Ben Ashcraft
Partnership where one person pays down payment
Does anyone have experience setting up a partnership where 1 person paid the down payment and the other person found the deals, tenants and managed the property? Or even a similar setup where 1 person was responsible...
Chase Swanson
Primary Residence and Investment Property Same Time
Sold out primary home in 2019 and have a lot of equity sitting in account ready to be placed. Was planning on seeing the market dive a bit but hasn’t much as far as primary market goes (San Diego). Only have x amount ...