Posted by GMann on June 03, 2006 at 18:23:05:
It’s call a Non Compete Non Disclosure. Google it and you will find a few you can look at. The document allows you to disclose the info on the property and they can’t go around you.
Option #2 is hard money if the loan is 65-70% of the after repair value.
Don’t know how to finance deal - Posted by Mike
Posted by Mike on June 03, 2006 at 17:32:53:
I’ve found a few deals that I would like to be a part of but don’t know how to put them together. I would like to rehab the deals and have contractors to do the work, but I don’t know how to get the money to do the deals. If I get partners, I would be afraid that they would just cut me out of the deal once I told them what it was because they have the money and I don’t. How would I present the offer to potential partners? Thanks, Mike
Re: Don’t know how to finance deal - Posted by Chris in FL
Posted by Chris in FL on June 07, 2006 at 13:41:13:
Mike,
If the deals are slam-dunks, get them under contract (leave yourself as long to close as possible). Once they are under contract, shop immediately for partners and/or lenders to help you do the deals. If you aren’t able to find that quickly, then assign your contracts to other investors for a fee (you become a wholesaler). If the deals are good enough, you win either way.
I have more deals than cash right now, so I probably can’t be a money partner at this moment, but there are times when I am willing to be a money partner. In fact, I am a 50-50 partner on most of what I am working on right now (my partner is finding the deals and managing the keepers, and I am bringing the money). Join your local REIA to look for partners, hard money lenders, and/or people to wholesale your deals to. Best wishes!