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Updated about 15 years ago on . Most recent reply

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William Lemmond
  • Real Estate Investor
  • Philadelphia, PA
0
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4
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Using OPM but CASH!?!?

William Lemmond
  • Real Estate Investor
  • Philadelphia, PA
Posted

I'm looking to purchase some deals with others cash. They want to essentially be my bank. One; How do we go about transferring the cash without heavy taxation i.e. red flags. I will be buying through a n LLC/business account that I have with TDBANK. Two; What's the easiest way to structure these deals to protect us both i.e. backing it with real estate.

Deal one for example: Purchase at 43k. Investor wants to loan me 50k with 5 pts attached payable within 3 months. What do I do with that money?? I don't want to show up at my bank and dump 50k into my business account. Then it becomes income? Right? Please help. I'm clueless with CASH and how to cut out u know who.

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