Comments on: St. George Land update http://www.livelearninvest.com/st-george-land-update/ Living life to its fullest by generating passive income through investments Wed, 28 Jul 2010 02:48:08 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Shaun http://www.livelearninvest.com/st-george-land-update/comment-page-1/#comment-171 Shaun Fri, 25 Aug 2006 16:17:19 +0000 http://www.afterreadingrichdadpoordad.com/?p=181#comment-171 Hmm.. Why not form an LLC with you and him as equal owners. Transfer title to the land to the LLC. The LLC gets the construction loan, which should satisfy the bank's collateral requirement. When the house is sold, the LLC will get paid and since you are equal owners, you'll split the profits. Hmm.. Why not form an LLC with you and him as equal owners. Transfer title to the land to the LLC. The LLC gets the construction loan, which should satisfy the bank’s collateral requirement. When the house is sold, the LLC will get paid and since you are equal owners, you’ll split the profits.

]]> By: monarchcrest http://www.livelearninvest.com/st-george-land-update/comment-page-1/#comment-170 monarchcrest Thu, 24 Aug 2006 16:56:53 +0000 http://www.afterreadingrichdadpoordad.com/?p=181#comment-170 Agreed. If I have to get the construction loan myself then I'm basically just hiring a builder to build the house. In that case, I should get 100% of the profit when I sell. Now if he provided the funds and I provide the land, I would be fine with splitting the profits. Ideally, what I would like is for him to build a house on both of my lots and I just give him one lot in exchange for him building a home on the another. Agreed. If I have to get the construction loan myself then I’m basically just hiring a builder to build the house. In that case, I should get 100% of the profit when I sell.

Now if he provided the funds and I provide the land, I would be fine with splitting the profits.

Ideally, what I would like is for him to build a house on both of my lots and I just give him one lot in exchange for him building a home on the another.

]]> By: Clifford http://www.livelearninvest.com/st-george-land-update/comment-page-1/#comment-169 Clifford Thu, 24 Aug 2006 13:36:03 +0000 http://www.afterreadingrichdadpoordad.com/?p=181#comment-169 It sounds like you'll be assuming all the risk here. It sounds like you’ll be assuming all the risk here.

]]>