All Forum Posts by: Account Closed

In the next year, I'm planning on starting a syndicate for fix & flip projects. I understand that presenting great deals to investors is the most important part of being a syndicator. Through the use of VA's, realtors, and online marketing, I've built a steady pipeline of single family properties(priced around 60% ARV minus repairs) coming across my desk every week. I'm currently funding deals with my own money in order to build a track record before soliciting funding from accredited investors.

As a passive investor, what ROI would blow your socks off and make want to jump on the opportunity? Assuming the timeline from investing to receiving your returns is 6 months.

I'm potentially about to get a property under contract in Memphis. It meets the 1% rule, but will only have the equity from the down payment(I'm assuming the buyer will pay 20% down). Is this a good deal?

Price: $55k

ARV: $70k

Repairs: $15k

Market rent is $750 a month

@Jonathan Martin Is there any other option besides a double closing?

My friend acquired a tax certificate property for $5k. I'm about to wholesale a it for $15k. In this case, the owner has 6 months to redeem. From my understanding, the owner can buy the property back within the specified time frame(6 months), but has to also pay interest. So my question is, if a tax certificate was purchased for $5k and then whoesaled for $15k, does the owner have to buy it back and pay interest on the the $5k or $15k? 

My worry is that an owner may only accumulate a couple thousands of dollars in interest on the $5k it was purchased for and be able to buy it back for $7k. That would mean that the end buyer will take an $8k loss. 

I have a seller who has 10 discounted properties. I have 1 of his properties under contract(so of course, his name will appear on the purchase agreement that I assign to the end buyer). Once the end buyer sees the seller's name on the purchase agreeement, they could easily google him and contact him directly, thus cutting me out of future deals. Is there any way to stop the end buyer from knowing the seller's name?

@Michael Quealy Real estate. I've talked to a few local banks, no luck yet. They aren't on board with offering me an unsecured loan. They are only willing to finance a property in exchange for me bringing the down payment.

I'm looking to get funding for my startup. My business has no credit or income history. Does anyone know of either a bank, credit union, or private lender who offers an unsecured business line of credit. I'm looking for a line of around $50k. I have a cosigner with a 725 FICO.

I have an LLC for my real estate startup, but I have neither the capital to get it off the ground nor the credit score to secure funding. I have a potential partner who I am willing to sign on as a 50% partner in the LLC, in exchange for using their 700+ credit score to secure startup funding. Before he agrees, the potential partner just wants to be sure that:

1. The LLC's debt:income ratio won't affect his personal debt to income ratio.

2. Late payments on behalf of the LLC won't affect his personal credit score.

Just want some experienced real estate investors to confirm the above statements as true. Thanks alot!