All Forum Posts by: Rachael A. Tanner

@Lee Ripma thank you! It might be a good idea to start with one year and perhaps after a profitable experience then we can do longer.

@Gary Harris thank you!

I have a relative with money to lend. It would make sense if the term is too long. Hopefully we can reach an agreement that word for him.

Thanks for the reply!

I am preparing to raise capital and I would like help understanding how to go about structuring and writing the terms of the funds.

MY IDEA

I want a $100,000 interest-only loan. I would invest this into a BRRRR. Then I can keep recycling this money into one BRRRR after another. I would pay interest monthly and then in 5 years pay back the full $100,000.

MY QUESTIONS

1. How do I actually structure this loan? Do I need to work with a lawyer to draw up some terms and both parties sign it? Can we just agree to terms, put the interest and the payment schedule in writing and then both sign it? Maybe notarize it?

2. Is this a usual set of terms or unusual?

3. Are there other things I need to be aware of as I pursue this loan?

4. Should they lend money to me or to the LLC?

Just looking for some brass tacks on how to actually executive private money loans.

Thanks!

We are preparing to sell our condo and use the profit to launch our real estate business. We will likely invest in properties outside of California. 

We want to understand what the tax implications of the sale are and how to prepare for them. We are also seeking a separate consultant to help us structure the business; though we are open to a lawyer/tax consultant/account combo if such a combination exists in one person or one firm. 

We prefer someone with knowledge of California tax law and specifically need someone who understands real estate laws in San Francisco and the special obligations that come with selling property here. 

Seeking a lawyer in the Bay Area. We are preparing to sell our condo and use the profits to invest in real estate elsewhere in the country. We are seeking advice for how to structure our business. 

Bonus if the lawyer also understands tax law. 

We need someone familiar with California laws, as this is where we live, and will continue to live. 

We are planning to house hack in San Francisco. We have been approved for a loan and have our down payment ready. We are looking at homes that may require  a bit of work.

We have one property in mind and want to find a contractor in San Francisco who can come with us to the property to help estimate the costs to get the property in the condition that we want. It seems pretty sound, but need lots of cosmetic refreshing (floors, kitchen cabinets, etc) and we would like to add a bathroom and expand another bathroom. 

We are hoping to go next week (week of Sept 10) in the evening (after 5:00 pm).  

Please be a licensed contractor with experience working on homes in the Bay Area. 

Thank you,

Rachael

I have stumbled on an awesome 5 bedroom unit over a commercial storefront. This is perfect as we have been exploring opening a storefront. So this would help advance both of our goals. Does anyone have experience with these types of buildings? Specifically, do lenders understand this to be a commercial building and evaluate the deal based on the commercial storefront? Or do they look at the housing component more? Any advice or insight on how these types of buildings are evaluated would be helpful. Thanks!

Thank you @Brett Goldsmith and @Wayne Brooks! 

We want to do a house hack in the Bay Area. My partner and I are considering looking into pre-foreclosure homes. Will lenders finance this type of sale? Do we need to be all cash or bring in another investor? Any tips? Words of caution?

@Stephanie P., right now it flows almost $900/month, including on site property management.  With some modest rent increases it could be over $1000 easily.