Posted by Ernest Tew on May 09, 2001 at 10:59:42:
Partnerships can be fraught with dangers. A better way would be to get the investor to lend money to you (at 12% to 14% interest) on a Promissory Note, secured by a first lien on the mobile home. It might be easier to convince the investor because they would have your personal guarantee (the promissory note) and a first lien on the home. As a lender, the investor would have no liability exposure in the event of a lawsuit.
You could “run the show” as you see fit and keep any profits above the cost of interest.
Partnership agreement… - Posted by Debra-SC
Posted by Debra-SC on May 06, 2001 at 22:34:52:
I have a chance to go into partnership with another investor who may fund the Lonnie deals I find. Where can I get an example of a partnership agreement? Is there a website I can go to?
thanks in advance.
Re: Partnership agreement… - Posted by Robert McNeely
Posted by Robert McNeely on May 07, 2001 at 21:43:50:
I just bought a course from “Financial Freedom Through Foreclosures, Inc.” There phone number is 516-276-7171 E-mail is flreia.com. They have a partnership agreement in their course. You may wish to contact them and see if they will provide you with a copy.