All Forum Posts by: Andrew Hejtmanek

@Kenneth Garrett - Any Chance you would be willing to share that document with me as well?

Yours, 

Andrew

@Dan Gamache

@Stephanie P.

@Tarik Turner

@Jerry Padilla

Thank you all for the info.  What types of rates are typically available to investors through portfolio brokers or other sources?  Is it typically higher than the rates offered by local banks?  The 5YR balloon/20YR amortization I was initially offered was 5.5-ish (local bank).

Sincerely, thank you all for the input. I might have succeeded in finding a 25 year amortization on 75%LTV , which would be a success in my mind as that would leave only a couple thousand $ in the deal.

Friends, 

My partner and I are currently rehabbing a property in Tulsa, Oklahoma. We will have pretty good equity in the property when completed. We would prefer to hold the SFR for 2-5 years, but banks I have spoken with are not willing to go more than 20 years on the amortization (5 YR balloon, 20 YR Amortization). I have spoken with quite a few organizations & decided I would seek input before inquiring with local bankers. Is anyone seeing 30 year amortizations on LLC debt for properties that are not new (this one is a 1950's SFR in a very strong neighborhood).

Thanks for the feedback.

Andrew

BP Friends - 

I am in need of some good partnership feedback/ideas.  I am currently an investor with a couple of SFRs, which both do well, but am looking to grow.  A colleague of mine currently works with local investors and manages 200+ SFRs accross our local area (as an employee).  He has a great deal of expertise and would be an ideal partner.  We have initially discussed purchasing a few rentals he currently manages, which ownership has offered to carry. 

We have discussed various ways to structure the partnership, but most result in a 50-50 partnership where we pay him some kind of management fee (which I want - I want to take care of him).

Here's my main concern - everytime I run the calculators, they show him making all the profit and very little of the cash flow making it back to me.  The deal will likely already be more equity heavy and cash-flow light as the offer we have would be to owner finance 100%.

 The deal hits the 1% rule (1.05%) and all the properties are are fairly upgraded and rented (again, my buddy is managing the properties and knows all the ins and outs of the properties and tenants).

Are there other options I should be considering?  Ways to structure the partnership?  I want to take care of him, but I also need to see some cash results as well.

Thanks! 

BP Experts - 

I have a friend who has recently told me he has an IRA that is not invested well and would prefer to invest it with me. We have discussed him loaning me the capital to purchase properties through the SDIRA. He would essentially earn interest on his investment. He would not own the properties or be a partner. I would be using the cash to BRRRR.

What is the best mechanism for my friend to be able to invest with me given he would only be writing a check or two a year to me and then receiving interest checks?  A basic SDIRA?  Or would another option serve the purpose better? 

Thanks!

@Paul Choate - Who are the property managers playing a significant role in Shawnee?  Are there who are really good & you might recommend?  I have some connections to Shawnee and might be looking to get connected with some good resources in the OKC/Shawnee area.

Thanks!  

Thanks Callum.  I really appreciate it.

BP Colleagues -

I have a couple of single family rental properties in Tulsa, OK and am looking to grow my portfolio.  Small now, but not forever. 

Near one of my other properties, there is a home in foreclosure that has gone through the sheriff's auction and is now held by the lending institution, which happens to be a nation-wide mortgage broker.  I've been watching it for a while.  The property would be a great one to get into as I know the area and believe I could cash flow the property fairly easily.  But I have no idea how to determine the best people to talk to.  The property is not listed - and from peeking inside, I see no evidence that the mortgage broker - or any potential agent - has taken any steps at all to prepare the property for listing.  (Still furniture and trash throughout the downstairs).

In this type of situation, any suggestions about who and how to reach out to the current owners?  Are there any tricks of the trade that might get me an opportunity to bid on the property in advance of the house finally hitting the market?

Thanks,

Andrew