All Forum Posts by: Joe Sanchez

@Will Barnard. I appreciate the response and agree, money can always make people do crazy things.

@Matthew Crivelli if we buy the property, there’s closing cost and holding cost which cut into profits unnecessarily IMO. We also want to maximize the sellers gain as mentioned they are family. That being said this is my first flip or RE deal like this so I’m certainly open to ideas! Thank you!

@Jeff Copeland thank you for your detailed response! We were unaware this is an option.

I’m in Texas and have a family member that wants to do some renovations before selling. Me and my partners will pay for the rehab cost and want to know how to get our money back at closing. My questions are:

How are my rehab cost plus “interest” paid back to me at closing?

Is the seller responsible for all the taxes if I’m being paid?

What type of deal is this called?

Thank for the help!