All Forum Posts by: Chris Waller

Absolutely, would love to help!

Mitch Messer please add me to your buyers list. PM me

Your exactly right Thomas Franklin ! The 10k difference was a Buffer, built into my analysis, but I didn't throw that part in on the OP. Yes, home was tested 2 weeks ago for Asbestos and Lead paint. We are clear of both. As far as the Plumbing and Wiring, that will all be redone completely and is included in the Rehab quote, including permit fees. To dive in a bit further, Yes, I will be forgoing my side of the commission. To be honest, I feel with my presence in this particular Market as a Realtor, I foresee finding a buyer prior to ever having to list the property. I did include closing cost in my analysis and as stated before, included a 10k buffer (for the unexpected) , but I did not include any Holding cost.

Martin Czerwonka great options! Can you expound on Lightstream lending?

Chris Coutu anyone particular you have worked with over there?

You the man @Chris T.  Thanks for the follow up.  I'll let you know which way we go!

Gentlemen, Thank you for the advice.  The investor could come up with the 35k on his own, I'm sure.

But he WANTS to cut me in on the deal, he sees my hustle. I honestly feel he wants to help me get started in REI. Hes a really good dude and I've known him a long time. I am his agent on all his property purchases and sales. My Lawyer is in the process of drawing up a JVA.

@Chris T. -Yes I pull the comps and 160k is on the low end of what this will bring. HELOC is the ONE thing I promised my wife we wouldn't do on our primary residence. Any other ideas? I'm all ears!

But thank you guys for taking the time, I really appreciate it 

I'll try and keep this as short as possible.

I am a Realtor in Georgia and Listed an "AS-IS" Investor owned property.  Here are the Specs:

Built in 1955, 3 beds 1 bath, 1155 sq ft on 3.2 Acres

Investor had it listed with me for 89k, had a few showings but no bites.  After 3 months, the investor and I spoke and came up with an unorthodox proposal.

He wants to take property off the market, partner with me, Fix and flip.

I've had my contractor up several times and have a finalize quote for rehab : $35,000

ARV=$160,000

Proposal:  I spend the 35k to rehab......We sell for $160k....

He takes 65k (off the top for the property), I recoup my 35k....we are at $110k, we split the other 50k.

Problem is....I don't have 35k in cash...I have 6k in capital.  How can/should I come up with the rest?  I have a 750 credit score and very little debt.  

My credit union doesn't do personal loans over 6k.  Any suggestions?  Thanks

I am a licensed Realtor in Flowery Branch and can help with your search in the North east Ga area

Hello All! I am currently a Realtor in Flowery Branch/Hall County Georgia and came to BiggerPockets to begin and learn to expand my REI portfolio! I'm excited to get started!