All Forum Posts by: Chris Seveney

@Robert Ellis @Chris Seveney

Great conversation here.  I am curios to the specifics of how these crowdfunding platforms charge if your wiling to share?  Do they create an SPV?  Do they get GP shares?  Some charge a technology fee or marketing fee?  I believe passive pockets charges something like that for deals to be listed.  Just curious to compare the specifics in regards to the way these companies charge/make money from the sponsors?

While not certain, many experts predict AI could automate half of all jobs within 3 years. I'm curious how fellow investors are thinking about this scenario.

If mass job displacement occurs:

• How would rental markets respond when income stability vanishes?
• Which property types might become liabilities vs goldmines?
• Where would displaced workers migrate?

While new jobs will likely emerge eventually, we could face significant economic turbulence during a lengthy transition period. These waves of disruption might last years before stabilizing.

I'd love to hear different perspectives on this potential disruption. Are you factoring this into your investment decisions? What strategies are you considering?

Let's discuss how we might navigate this uncertain future together.

Investment Info:

Single-family residence wholesale investment.

I have 2 SFRs under a sub-to cash contract. The Horizon City property is new (2023) and modern. Colorado Springs is a profitable Airbnb that has been updated and generates an average of $5500-7500 per month. Both homes are owned by the same family that have hit financial stress and they dont want it to go into foreclosure. They are ready to walk away from both of them at $100k each in exchange for someone to pay their mortgages and save their credit and marriage. They are really motivated!

What made you interested in investing in this type of deal?

I know the family and the husband is a retired vet. I am a military mom and I offered to see if I could help them out of this unfortunate situation

How did you find this deal and how did you negotiate it?

These are family friends and they trust me. I told them that I work with real estate investors that would be able to help them and put some money in their pocket to help them with their crushing debt and bills so they wont go into foreclosure on both houses

How did you finance this deal?

I am currently awaiting signatures on both contracts that are prepared as a "Sub-to" cash deals. They are willing to let the houses go for $100k each in cash so they can pay off some bills and relocate.

How did you add value to the deal?

I am able to help family friends in a very unfortunate situation and also help them put money in their pocket to help get out of debt and off to a fresh start

What was the outcome?

I am hoping to find an investor that I can assign this sub-to contract to and help them close in 15-30 days so they can move on with their lives and save their marriage

Lessons learned? Challenges?

I learned that you can really help good people in really unfortunate situations. It is my honor to serve this family and I am really to JV with another investor to help more families in need of relief that are in dire situations like this

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Crystal Garza is a Realtor in San Antonio and she works with a mortgage lender and they do really good work

Is anyone in the Abilene Texas Market? Looking to connect and potentially start up an investor meet-up! 

Hi BiggerPockets Land Investing Team,

I’d love your insight on a land deal I’ve been working on. A few weeks ago, I came across a 16.5-acre vacant lot in an area my wife and I really like. The asking price was fair based on the local market. After visiting the property, we realized we indirectly knew the sellers—a husband and wife who had originally planned to build there.

The husband put significant work into the land, saving money by doing the development himself. He subdivided the main lot, drilled two wells, and brought in power, making it essentially ready to build. Since he did much of the work himself with his own excavator and dump truck, the development cost was far lower than normal.

When we met, he said he had lots of interest in the property and wanted an informal offer as soon as possible. We submitted an offer with a financing condition, and everyone seemed happy with the deal initially. However, since we needed a small loan to complete the purchase, we included a condition for financing approval—which is fairly standard for vacant land deals, especially since lenders require an appraisal before funding.

Where Things Are Getting Messy

At first, the seller pushed for an unrealistically short deadline for financing approval. Since financing for vacant land takes longer (appraisal, underwriting, etc.), we asked for a reasonable timeline. Our notary drafted an agreement, our lawyer reviewed everything, and we scheduled the land appraisal to satisfy our lender.

Now, the seller is suddenly not satisfied with the financing timeline and is hesitating. He claims others want to make an offer, but unless it's a full cash buyer (which is rare in our small town), I doubt they’d be able to close faster than us.

I’m getting the sense that he may not actually want to sell, and this whole process is just a way for him to tell his wife that no one could buy it. It feels like he’s trying to create roadblocks instead of working with us in good faith.

My Concerns & Questions for the Forum

1. Has anyone dealt with a seller like this—one who acts like they want to sell but keeps sabotaging the deal?
2. At what point do I walk away? I’ve already spent a few thousand dollars (legal review, notary, appraisal scheduling), which I won’t recover if the deal falls apart.
3. Should I push harder or let it go? I’ve been keeping him updated daily, showing commitment to making the deal work, but now he seems indifferent or even looking for an excuse to back out.
4. How do I handle this carefully considering we will still be neighbors? He owns the 2-acre lot next to this land, and we’d be sharing an easement if we proceed with the purchase.

I’d really appreciate any advice from those who’ve navigated difficult land deals or sellers who seem unsure about selling. Thanks in advance for your insights!

Hi

I'm looking for a Notice of Interest Form for an equity partner, so we can file it at our local recorder's office. 

The equity partner has loaned funds towards flipping/improvements of a home wants to make sure they get paid when the house sells.

I don't know if a handwritten agreement along with our equity partner contract will be enough to file it.

I am in Utah.

Anyone have this form, or any advice?

Thanks

LeeAnn

 Chris, great inputs. The people I've seen do this at scale is called Texas triangle fund. they raised 25 million and do this for horizontal developments to national builders. I've looked at the same fund structure for horizontal developments in the south east in Orlando, Jacksonville, Atlanta, Tampa, Raleigh, Charlotte, etc. in my opinion debt is better. since they are getting 3x returns on the average land plot they can be wrong 1/5 times and still make plenty but as a business that's how they set it up. I think for land equity is better since there are a lot of unknowns. the equity comment you mention in my opinion is much better yes with normally at least 30% or more going to them. I think having a good strong team and good track record is essential