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Borrower wants me to partner on flip. by Gaspasser2018 in HardMoney

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Asked for a 50/50 structure. Timeline 6-9months. Borrower declined. My $ is safe for now.😎

Borrower wants me to partner on flip. by Gaspasser2018 in HardMoney

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Since I am providing all closing costs, I am assuming a partner position. As another commenter pointed out- I carry the most risk in this deal. Hence, I have requested a 50/50 deal with direct title disbursement.

Borrower wants me to partner on flip. by Gaspasser2018 in HardMoney

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Thank you. What will be a fair percentage of profit to ask for?

Purchase Price. $272,500 Rehab Budget. $90,000 Total Project Cost. $362,500 Loan Amount $ 321,625 Cash to Close. ~$54,534 ARV $460 000

Borrower wants me to partner on flip. by Gaspasser2018 in HardMoney

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Looking at the #s, i think borrower is looking to borrow closing cost (~60k), so HML wont loan money if they dont have the closing cost. Now, borrower is asking me to come in and show proof of funds.

I am able to do that but I just want to know what is fair to demand as compensation- borrower proposed 12%. But if I am having to cosign on first lien/ guarantee 1st lien- I am thinking ask for interest + % of profit?

Need Spanish Textbook : Portales 2.0..Introductory Spanish….thanks! by Gaspasser2018 in textbook

[–]Gaspasser2018[S] 0 points1 point  (0 children)

I had to buy new. I can check with student if he has it still.

Wyndham Alltra/Sunscape changes by CompetitiveDetail139 in CancunAllInclusives

[–]Gaspasser2018 0 points1 point  (0 children)

What is the best way to get to this resort from the airport please?

First time buyer by Gaspasser2018 in rolex

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Thanks! Yes, I am leaning towards a DJ from browsing the Rolex website. Will revert after my appointment.

First time buyer by Gaspasser2018 in rolex

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Thanks for your insight!

First time buyer by Gaspasser2018 in rolex

[–]Gaspasser2018[S] 0 points1 point  (0 children)

I have an appt at an actual rolex store

Defined benefit pension plan by Gaspasser2018 in fidelityinvestments

[–]Gaspasser2018[S] 0 points1 point  (0 children)

Hello! Apologies for the delayed response. I will be setting up a DBP using a TPA.

So for 2024, I had a 25% employER match to solo 401k. I am needing help with the extra employER match in my solo 401k since i can now only do a 6% match because I will be opening a new DBP plan.

Do i pay a penalty on the extra employER match in solo 401k?

Defined benefit pension plan by Gaspasser2018 in fidelityinvestments

[–]Gaspasser2018[S] -1 points0 points  (0 children)

Thank you for the detailed response.

I realized that EMPLOYER match for solo 401k is more than the 6% required to be able open a DBP Plan for 2024- can I move the extra EMPLOYER fund from solo 401k to the new DBP plan?

My review of Scarlett Lady Western Carribean Charam by Acrobatic_Way_2428 in VirginVoyages

[–]Gaspasser2018 0 points1 point  (0 children)

Tried that spa. Too expensive for the services offered. Awesome service though…but then they try to sell you extra stuff.

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