All Forum Posts by: Allan Kyariga

Hey guys so basically I’ve locked down my first piece of property and it is a home run deal. It’s a new construction project of 8 homes I got at an auction in Saint Paul, Minnesota. An extremely experienced developer friend I have helped me meet with the right people in the city to do my due diligence in getting all the correct information on the property prior to auction. He also will be doing the construction and is helping to get all of the permits from the city in order to build in an extremely speedy manner due to his knowledge experience connections and professionalism. Basically he wants to get paid for construction and is asking for 50% of the leftover profit on the backend. Is this a fair deal? If not what would be common for an arrangement like this. (I feel like if he also handled the loans for the land and new construction this may be a fair deal)

Thanks everyone for the advice, I've decided I'm definitely gonna look for off market deals. 

Snitch. Lol

Originally posted by @John Thedford:

Strictly using contracts to broker is illegal however you find your buyers. Closing and then reselling is legal. I filed complaints on five crooks today for brokering without a license. 

Hey everyone, I’m a first time real estate investor. My biggest obstacle at the moment is simply getting pre approved so that I can start making offers to get the ball rolling on my first wholesale or buy and flip. I have basically no credit history at the moment. Was wondering if there were any hard money lenders out there that value the deal that you find over your credit history. Let me know any thoughts tips or suggestions. Thanks!

Yea South Saint Paul is definitely a more tight knit community that I don’t see changing too rapidly. Though more low end Frog town on the other hand seems like it’s changing for the better at a more rapid pace.

Definitely interested!

Welcome! I am new here as well!