All Forum Posts by: Adam Bindar

@Adam Bindar

It already occurred beginning of November

The next one is next November

The events for newer investors are Diversified mortgage expo, note expo, papersource are a few to look into

Curious who on BP will be at note expo next month in Dallas?

If you are going hope to see you there.

@Adam Bindar, that is still too vague for me to give input.  Is the other party bringing in 25% in cash and you arrange the loan for the 75% and you both sign?  Is he bringing in 10?  Are you having your crew do $10,000 at cost?  Or $500,000 at cost?  Are the costs for materials being paid by the loan?  Fronted by you?  Fronted by the other party?  How much do you expect the increase in value to be?  $100,000, $500,000?  

@Bryan C., I am going to disagree with Curt on this. The JV partner has no risk of loss in the deal. A 50/50 split is more than fair. If you are doing a flip it is much more work intensive. If you are doing a buy and hold I would never do a 50/50 split if I provided all the money for a cash buy. It depends on what you are doing and the risk involved. Buying a rental and getting it rented is not worth half of the profits. You can get a realtor to buy and a property manager for 10% so why pay 50%? There are folks who give half of the profit in doing flips to the money man. there are some who pay hard money from 12 to 18%. A lot depends on your track record and how good the deal looks.

Joseph, I currently don't have any notes originated at this time. But the ideal payment collection would have the funds wired directly into the lenders account. I would defiantly have title insurance on the note, with the note being secured by deed of trust. 

I would like to sell the note at 70%-75% of the loan balance, after holding it 2-3 months. 

You will want to have someone locally look at it unless you want to make the drive. If it has been vacant over a year several towns up here won’t allow it to be anything but a single family. If it is listed and really cheap, it may be a tear down as there are a lot of investors that comb the mls. If it is anywhere near Bangor, I know the area well and am not buying. So if you want to pm with with more info I may be able to help more.