All Forum Posts by: Richard Dunlop

The most common way would probably be to fund a loan from one LLC for the purchase and rehab of a property. Instead of having a $125,000 property free and clear held in a LLC hold title in one LLC with a recorded $130,000 mortgage to a different entity.

If you have a lot of money to invest paying a mentor is possibly worthwhile. 

But if you're paying for instructions on how to raise your credit card limits so you can pay the guru. It probably was not a wise use of your established credit.

Go back to page 1 and give @Loren Thomas a vote for this Thread so he gets an Award for 10 Votes (I think). 

This is an excellent example of a BP member Paying back and Paying forward!

I need an Amortization program that allows odd payments and multiple payments.

Allows adding late fees and deducting discounts

Preferably like a revolving credit line calculating interest between each event.

Any recommendations are welcome even if not as descibed

if you start here it doesn't  

Yes you can find 100 qualified to rebuild for every 1 qualified to remove the mold.

It makes the project much more understandable on your level and their level.

 YOU  "So its going to take you 3 days to remove and dispose of debris air out and what else are you doing for your $5000? 

CONTRACTOR  "Um ah Lots of Things um ah"

Make sure you're not paying your $2000 a day crew to do the $400 a day work. 

Get an estimate from a national professional company.  It wont be cheap!

Submit a low offer for purchase with the high estimate for remediation

Then have a qualified local contractor only remove the debris and treat but not rebuild.

My sister in Alabama Had an Estimate from a much advertised company for $45,000 but it only cost $5000 to strip and essentially sterilize the basement.

Yes 

I don't know whether WOW! or OUCH! is the more appropriate response. I started with $150 and 6 years later I have 25 houses. 

 Ask the flipper/investor to put up collateral. Record a lien on a completed project that he is holding. This might simplify the process as the flipper could use the money for multiple deals without redrawing paperwork and liens for each new deal. But still pay you your share as each deal is done.

 Definitely use an attorney for any deal with someone you've not worked with before.