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Hard Money...split Profit

sire profile photo
  • Wednesday, February 11, 2004 @ 03:18 PM EST
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I have an investor who is willing to wait for payment (no monthly just payoff plus profit) until the property sales at that time we will do a split of profit 60/40. How do I write this up as a mortgage? Example ARV 100k Purchase Price 65K repairs 3k Total 68K At sale 100-68=32K Investor gets payoff plus 12.8K We get 19.2K How can we write this up? Sire
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  • tinman1755
    tinman175511th February, 2004
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    I did that once, We drew up a trust with me and the other person as beneficiaries with a split we agreed upon. Taking into consideration the actual costs and sales price. But that may be an option for you.

    Lori
    [addsig]

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