All Forum Posts by: Charles Royale

Hey everyone, hope you're all doing well.

I was hoping you all could tell me how you went from hard money and banks, to finding private money lenders.

I am constantly hearing from investors who have a " money person" or a great network of private money lenders. Where are they finding them? What sort of approach are you using to "recruit" them? Did you know them in advance?

I hope my question makes sense, and that you all  can provide me with greater insight. 

Thanks!!!

Charles E. Miller

Royale Kingdom Properties

Royale Kingdom Properties (RKP) is based out of Jefferson City Missouri and invests throughout the State and greater Midwest region.

I am looking for long term financial partners to join the team. We offer a great ROI.

RKP buys multi-fam buildings (2-6 units) and small apartments (12 or fewer units) that are destressed or undervalued; then we renovate, hire local property management, raise rents, and refinance. At the time of the refinance, you (the financial partner) get your capital back with a solid (pre-negotiated) return.

If you are interested in this type of long term partnership, please send me a message or reply to this thread.

I look forward to speaking with you!

Charles E. Miller

Royale Kingdom Properties LLC

So my experience is a bit different.

I worked in hotel management for about 10 years, and we ran into this issue from time to time.

ESA rules ALWAYS win. We've had to accept miniature horses, birds, etc.

I am pretty new to this, so bare with me.

My agent recently called me to discuss a pocket listing she has. One investor plans on selling 69 of his properties and just hasn't listed them yet. He plans on listing them later this week. He sent his agent the list and in turn my agent learned about them. She took me on a tour of the area and I saw most of the ones he's selling.

Here's my problem/concern. I found a few that I was interested in, but the investor isn't letting anyone into the properties until they are under contract. I am not comfortable putting them under contract without a better idea of what I'm getting myself into. My agent said once they're under contract and I inspect them, then we can negotiate, but that worries me. What sort of contingencies do I need written into my contract so that I don't get stuck buying properties that I don't want after review? 

If my question/concern doesn't make sense just let me know. I'll adjust/rephrase it. 

@, thanks for the tip!

I am currently interviewing attorneys and CPA/Tax specialist for the team.

Thank you @Tahra Wright. That makes a lot of sense.

I hear mixed things about incorporating your business in Nevada instead of your home State. Everything from lower tax burden to reduced oversight.

I've also read things about you not actually saving on taxes because of what your taxed in the state you do business in, or issues with the Secretary of State.

Does anyone have any insight on this?

@Megan Kline I tend to look for at least $100-200 cash flow and 11 percent cash on cash ROI.

I prefer using property management companies. If your goal is to scale the business then you can't do it all alone.

@Greg Gibson have you looked into tax liens in your area?

@Kirk Perecich you avoid the bank with private or hard money deals. Most hard money deals will do something like charge 4 points upfront and 12% interest. That's much closer to the 3.5% you're looking for, and it's jail free.