All Forum Posts by: Assaf Furman

Thanks for sharing! You're right that it could have been worse but that's good you haven't given up. Persistence is key to success! 

 Chris, first of all I welcome you to our community. Second, the next step you should do is to analyze the property  (what you should have done prior to closing )  and pitch it to investors either at REIAs , BP marketplace, or well connected agents. If you want I can connect you to a developer I know will have an interest in it.

In here you don't search for deals - you create/structure them. Your focus IMO should be on finding sellers with every method you can possibly think of, and learn how to negotiate a deal according to their specific situation where you could buy their house low enough but still be of value to them.

Had you chosen the right property to buy-rehab-rent, you can repeat the process by refinancing it: The BRRRR model is based on having enough equity in your property (by buying low, adding value or both) so you could use it as a down payment for the long term mortgage, and pull out the loaned funds in order to move on to your next property.

Bottom line, the benefit of refinancing is to "recycle" your initial investment to buy the next property. 

@Arthur E. I'll just directly answer your question: Check out this radio interview. 

I personally met with Jason, and I can tell you he's solid.

 Thanks for chiming in Douglas. I'm not looking for legal advice, let alone here in the forums, but can you tell if you've counselled to a partnership similar to this? 

Thanks for your input @Brian Gibbons and @Jay Hinrichs. Getting an arbitrator is a great idea! 

The main thing I wanted to know is that there's precedence to what suggested above and a proper way to structure this. Have either of you been or know such a partnership in recent years?

A colleague of mine has a small portfolio of rentals on the lower end, where his goal is to accumulate some more and finance them with a 15 yr mortgage so that by the time he retires he'll have them all free and clear to generate a decent cash flow. Me on the other end, am interested in equity and buying in an area that projects appreciation for the next few years. 

I was thinking that we can combine the two goals in a way that we can split the DP to buy an undervalued property on a higher end neighborhood, fix it up, cash out refi to a longer term loan, hold it, and once it gains a certain equity amount refi again but this time I'll be handing over my shares and he'll keep on holding it. This way he could enjoy a higher income from rent, better pool of renters and lower turnover with a low DP, and I could have appreciation play.

Any thoughts? Maybe someone attempted to do it? 

@alexander Can you give more details?

@Wells Lange Look for HML that are equity base lenders. Some will agree to cross-collateralize