All Forum Posts by: Aaron Junck

@Guy Gimenez Thanks for the feedback. I feel it would be a win win for everyone, I just want to get a feel of what all of you on here would do in this situation. :)

Would you be willing to sell a property on a wrap to a tenant ? The tenant wants the property and cannot qualify due to a bankruptcy from a pervious marriage 2 years ago. However, the tenant has a great paying job and in the past 2 years has saved up 30k with the plan to use it as a down payment for the house. 

The property is a 0 cashflow every month, but I do have a good chunk of equity in the property.

The tenant has always paid on time in the past 2 years as well. 

I was thinking that with 30k down I would be able to find a property that I could cash flow on and also the tenant would benefit by owning the property. I would have an attorney or title company or whomever I need to service the loan for me. 

If you would sell this way . What would you feel is a fair interest rate? My current interest rate is 4%.

@Long Khang Maybe look for a local builder that would go 50% your cash 50% his and build some new construction. That is, if your market is strong and its a bidding war. Is it possible for each to throw in 80k and walk away with 90-100k in 4-5 months? 

If you make 90k, say in 6 months, that would be a 12.5% return on cash and if you do that twice in 1 year your at 25% COC .... Something to think about.

I personally have not. Not that I don't want to but I don't want to come across as those that are always posting pics of themselves at the gym or those that are always talking about their amazing relationship just to see another post next week on how they were just cheated on.

I wish I could do it in a way that doesn't seem to be bragging about a deal or pushing REI down people's throats all of the time with great information(podcasts/blogs/articles).

I feel it is a great way to keep top of the mind awareness to others though.

We have one that we mainly try to tell people about that we know and on FB and BP and then just keep them on the email list to email them. 

The other one has a FB page "SDREIA" also the website www.sdreia.com . 

Sounds like what from others have stated we are doing mainly what everyone else is for the most part, there is just a lot of tire kickers lol.

Does it seem like any big time local investors seldom come ? The ones that do a lot of big projects have come to speak about something but don't ever come back to network. It just floors me that not more investors network . I can think of a handful that showed up once maybe twice and thats it. How do you network and get to know each other if you meet someone once... lol 

Hey Steve, Curious to know how your REIA meetings have been going up there? Ours seem to only have 10-15 investors show up the past few months.

Thanks Ned . We typically go around the room and say who we are and what we do and what we are looking for.  

Do you all do a questionnaire handout or have web pages for your REIAs? 

When you attend your local REIA how is it structured?

We have 2 local ones. (I helped start both)

The 1st one we were able to grow to about 15-20 investors on average.

The 2nd one seems to bounce around 8-12 investors showing up on average.

My question is how do you keep investors(newbies) coming back along with other investors? 

Is there a certain day/evening that you found work the best?

Is it mainly just a social hour and everyone chats or do you have speakers/investors come in and try to teach?

Where do you meet? 

What size is your city? would that be a potential issue? our area is approximate 250k people.

Thanks in advance :)

It's always a priority to have goals (written). 

My plan for this year is:

1. Sell current home. (too big and too much equity in it)

2. Build a smaller new modern house

3. Build at least 2 more houses for customers

4. Build a new 4 plex and lease out. 

5. As soon as I get my current place sold and new place built, build a spec house.

6. By the end of the year get at least 6 more cash flowing doors.

7. Keep moving forward with a very large commercial / residential complex (planning, drafting, bidding, and syndication)

Let me see if I understand correctly. When you draw up your purchase agreement and put the name of ABC LLC as the buyer. When you turn around and have the buyer purchase ABC LLC the buyer would be buying the interest in purchasing the property therefore the way I see it is the new buyer would pay you your 10K for the ownership of the LLC and then would go to closing whenever that may be and purchase the property.

The said purchase is purchasing a business , the real estate deal is a project in the making inside of the business. 

At least that is how I for see it working.