So, Ken Mcelroy says this in his book :( just something he said before the other part )"When using other peoples money for multifamily investment, you want to be sure the operations for the property can pay for the mortage and still provide a good return for the investors""we refinanced the property and with this tax free money, we were able to return all the original equity for the deal to our investors+a substancial profit on that money, all and all our investors made 40% on thier money not including depreciasion and tax savings wich depended on their own situations and the amounts they invested, the investors now have absolutely NO MONEY INVESTED in the propertry and they CONTINUE to recive a %:t of the cash flow, it's free money, that's simply lands in their accounts each month"*In my current post, I said private lenders, that's not the same thing as OPM, right ?

David T - even small local banks that do portfolio lending still require flood insurance, in addition to any conventional lenders.

The binder requires "consideration" (money) and a commitment to sign the lease.

Originally posted by David T.: Sorry to tell you, I'm out of L.V. after three years.

Scott, does your last name end with one T or two?

If you commit to a purchase price, this is the number we use.Most independent restaurant owners will be glad to have a 7 percent return.

The BNI concept is referral based, the commitment is a good job at a fair price,Paul

As the lender, you should have a deed of trust that secures your investment, and the D-T provides for provisions in case of default.

My philosophy is live where you're happy and make good money, invest where the numbers make sense to help you achieve your investment objectives...just know what they are before you commit.

We don't want t have all of our eggs, or too many eggs, in any one market place.