Will it be paid separate or included in the loan?

The 'upsides' for purposes of analyzing this deal are:  1) one of the 1-bedroom units has potential to become a 2-bedroom;  2) basement is finished and can be made into 5th unit;  3) some of the existing tenants are paying below market rents

My buddy just approached me with an offer to invest with him in buying foreclosures, he is a GC and he has done house flipping before, he wants me to invest 30K-50K of my own money and use it to get a 6 month rehab loan from a hard money lender at a little over 11% interest, after the House was finished we would split 50/50, he would also add me to his LLC that we would use for that future buy, the reason I’m thinking about investing Is bc I own my own business which will bring 200K this year in gross profits, the down side of my business is that I work 12 hour a day 5 days a week, and I feel that I’m slowly burning out.

If the property is solely tenant occupied you will be looking for a Dwelling/Fire Policy (may be called a Landorrd policy or similar name) or a commercial policy such as a Businessowners or Package polciy.Most homeowers or dwelliing/fire policies include:1.

Once I have finished all the interior unit doors over a week or two, I then do the exterior doors.

If you have references of lenders to pursue, please include them.Thanks!

So far, I bought 3 properties including my primary residence.However I noticed that usually seller pays for 6% buyer and seller agent fees.

Ironically, it can be difficult to obtain loans for a property as an agent because lenders are leery of the self-employed with commission income, however, if you finish college, get a good W2 job, and have decent credit, lenders will line up to give you money, assuming that you are going into a field that is in demand.I admire you wanting to start investing at a young age, I wish I would have started investing in real estate in my early twenties instead of misspending my youth on debauchery.

At my firm, we handle all sorts of real estate transactions, including those you mentioned.

This also would include if your spouse has W2 though, so maybe you have this angle covered but didn't post about it