Posted by JohnBoy on May 14, 2000 at 16:33:20:
None of this makes any sense. What were the details of this deal? Is one of the 3 investors renting the property in question? Or is there an outside party renting the property? What was the money invested used for?
What doesn’t make any sense to me is why investor #3 would put up over 99% of the cash and allow 2 other partners to come in putting up only $20 and $35 bucks??? That doesn’t make any sense! Which investor are you?
What was the verbal arrangement on this deal? What was the cash invested being used for? Who’s renting the property? What is the mortgage payments and what is the renter paying for rent? Did the renter put up any option consideration? Where did that money go?
Based on the little information you’ve given here it looks like this was a retail L/O deal between 3 people. The person putting up the $8900 is the person occupying the home. But who knows! None of this makes any sense at all. I can’t understand why someone putting up $8900 would take in 2 other partners only putting up $20 & $35??? Tell me you’re not investor #3?
Go into more details on how this deal was structured and maybe we can make some sense out of this in order to help you understand it better. Based on what you’ve given nothing makes any sense!