All Forum Posts by: Craig Barker

Websites, old forum post, writings, ect. Anything will help.

Sam, I am interested in buying their property. I am not a wholesaler, and would like to buy and hold the property for cash flow. The seller is actually a wholesaler themselves, and the property is currently posted forsale. The property contains 40 units, but the wholesaler is willing divide the units. I am interested in the 6 triplexes he is offering. Thanks for your reply.

To shake the fear of stepping into the real estate investors game, I am anxious to make my first call about a property that "seems" to fit my preferences. I have done research on the property, but would like to contact the seller for more information.

As a newbie, are their certain things I should/ shouldnt address in our first discussion?

When is it a good idea to bring up financing options?

What are some key components that should be discussing? is there an order or prioritized list I should follow?

Thanks BP community for your help!

-Craig

Just wanted to show my appreciation for all of your help. I contacted my step father to see exactly what he wanted. I am going to continue my business plan and then begin a property package. Thanks for all the informative advise.

Craig

Thanks, George. I will continue the business plan and use a generic example.

Bill, the reason for the plan is to get capital to set my venture off the ground. My step father wants to make sure i have a plan, so he knows im not going in blind. Your wealth of knowledge is very helpful. Thanks for your advise.

James, so how does a property package differ from a business plan? Also, do you know where I can find a sample property package?

I am creating the plan to get the funding and dont want to look for properties before i have access to the cash, or is that a mistake??

Thanks BP community. Everyone is a great help so far. Very much appreciated.

Craig Barker

Thanks, Bill. Glad to become apart of the community. The plan is for my step father. I have been faced with an opportunity to present my plan to him in regards to capital.

As far as experience, my father owns 34 units that I have helped maintain. I am currently pursuing a Bachelors Degree in Business Management, and accounting is in the curriculum, as well as, marketing, legal studies, ec.

Units that contain limited rehabilitation with positive cash flow are targeted.

Also, I dont have any maintance expense for the area or additional info in that area. Where would i look?

Thank you for your concern.

Craig

So, I have been working on my business plan and I am stuck with many questions. First, my plan is aimed at apartment complex's containing 15 to 50 units that need very little rehabilitation. With so much variability, number changes.

1) How do i go about addressing my fincancial section of the business plan when there is so much varibility in size? The variability will effect maintance cost, utilities, staff size, and hours worked.

2) Should I find a prospect property in my market and use those figures?
3) Where can I find a Business Plan for this type of REI?

All advise is appreciated.

Thanks,

Craig Barker