All Forum Posts by: Chris D.

Wait, im very confused on all of your issues everybody is having.  I have done many hard money purchases.  Hard money is the same as cash.  Why are you guys writing in hard money stipulations, what are you writing in that needs to be said??? You check the cash box.  The seller does not need to know where the money is coming from.  Why would you even tell them you are using hard money, all it will do is scare the sellers away.  Also, if you guys are having problems getting the money from your hard money lender then maybe you need to find a new one.  They way it works with my guy is my attorney sends him the paperwork, amortization schedule, then at closing, that day or the day before he gives my attorney a bank draft per the closing statement, or money we have agreed on prior, i bring the balance owed.  So what exactly is everybody else doing?

Andrew, i sent you a message, get a hold of me, im confident we can work it out.  I have done many of these.

Chris

@Andrew Graziano Andy, i live in Amherst NY, this is what i can do for you, i will put up all the money and take care of all repairs, split the profit 50/50.

Chris

Also, for future knowledge, what bank are you working with that will let 20% down?

Mike, may i ask what street this is on?

Welcome, there is a meet up tonight at 7pm at the olympic restaurant on military rd, in buffalo, there is a link somewhere

Wow, you guys are great, tons of great information from you guys, im glad i joined this site.  I appreciate the help, i may ask more questions soon.

Thanks! ill be there

Wow, great information from everybody, i appreciate the help.  @Brian Adams how did/do you find these people to give you money, and what is the average amount do you see most investors giving you?  Also, what is a fair amount of ownership % do most of your investors feel comfortable with as well taking a salary?

ok, so i am a little confused on this raising capital for a down payment, maybe someone can explain it to me how it works. There is a 100 unit apartment complex for 6 million. I would have to put down 25%, so I would need 1.5 million when i get a loan.  So my question is, how are you guys structuring theses deals when you raise the 1.5 million from other people.  Do you raise the whole amount (1.5) and take a percentage of ownership? what percentage if im not using any of my own money?  Or are these people giving you money as a loan and just paying them back a % at a whatever length amortization?  (so more or less you are 100% financing this deal).  Or am i totally off and there are other ways of doing this?  I appreciate the input, as i would like to raise capital asap.  Thank you.

Chris