All Forum Posts by: Jonathan Beasley

The idea is going to be to use his money as a portion (or all) of the down payment. . .so I'm really trying to ascertain what to do in the way of interest rate, frequency of payout, etc. Do I, just for example, give him a particular guaranteed rate of return? And a note that he could call do in a particular amount of time? I feel pretty good about being able to pay a yield of 8-10% annually. We probably would have a private note, and a 2nd deed of trust (2nd position behind the bank's). 

Hey gang! I have acquired 14 rental units over the past 12mos, and am currently knee deep in 3 flips in order to generate more capital (to purchase more rental property). So to do more deals now, I have a family member that is very game and interested in lending cash, and there are a few deals I am eye balling right now. What I need help with, is a couple of good ideas how to set up and structure deal, when essentially party A (myself) is finding, buying,  and managing the property. And party B (family member) is simply providing cash and looking for a return. Generally, I am looking to buy and hold for the long term. Any resources, ideas, books, articles etc on how to structure this would be super appreciated!!

I agree with Don - here in VA, we are required to serve a 5 day notice. Rent is due the first. I give them until the 5th as a grace period. On the 6th, I serve the 5 day eviction notice to pay or leave. On the 11th if we're not squared, I get a hearing scheduled in front of a judge to evict. Fair but firm. Everybody has a story.