Posted by lukeNC on March 10, 2006 at 22:55:42:
i hate partnerships so this might not be a good post for ya…
I’d tie up the deal and flip it to someone else (maybe this guy), let them make the money on the rehab.
keep doing this until you can buy your properties cash and rehab yourself.
its best to do things without owing anyone any money.
no credit or credit score needed.
just my opinion.
Private Money Structuring, Please Help! - Posted by adam
Posted by adam on March 10, 2006 at 13:01:51:
hey guys i am a new investor and i have a possible private money investor with $50,000 he is willing to lend me to fund a rehab project. this is my first time so im not sure how to structure this. i dont want to take it all as lump sum, maybe not use it all and pay interest on money im not using. im thinking maybe setup a bank account and have it as a line of credit. i am going to form an llc. once i do that, can i purchase property in the llcs name? i know i have an opportunity here but i feel i dont know how to put this all together. any help will be appreciated.