All Forum Posts by: Clint W.

 Justin,

This sounds like a great idea that would work very well for a flip.  I will have to explore this idea, especially if we find a property to flip.

 Paul, 

Thanks!  I like what you are suggesting, and it makes great sense.  It is definitely something worth exploring more.

Cheers!

 Thanks.  This is an interesting idea that I will have to explore!

Ivan,

You are absolutely correct.  That is what I am currently trying to do.  Hence the questions.

We are looking to avoid hard money lenders or other short term lenders.  Our intention is to inject our own resources (what we have left), add outside investors, and then add financing as required.  We want to avoid 10 people on a deed (if that is even possible).
We are butting up against our monetary limits and we are also getting to the point where banks tell us we have too many mortgages.

We aren't sure what our next step is or how we will accomplish it.  As we determine this, we are trying to decide how to raise the funds required.

Cheers!

Christopher,

Hello. We are not flippers. We are looking at buy and hold or build and hold. We want to get away from SFR and move to MFH (2-4 plex or small apartments). I looked at syndication, but it seemed to be a expensive route to go for the smaller projects.

Are you familiar with syndication?  Is it a viable vehicle for small properties?

Cheers! 

Hello all,

I have dug around for a bit, but I can't seem to find what I am looking for. 

My business partner and I have had a good run on joint purchases and solo purchases; however, we have reached the limits of our resources.  We are starting to accept that we can't expand much further without outside support.  We have had multiple friends and associates offer to help us with investments, but until now, we have stayed away from them.  We wanted to gain the experience and knowledge to be good stewards of their investments.

One of our biggest questions now, is how do we proceed?  We don't necessarily want loans with structured interest and returns.  We want to pursue an investment mentality.  You succeed if we succeed.  We have been discussing this, and what we think is that the returns are split via investment percentage (e.g. If you invest 5% you get 5% of the profits).  Does that make sense (it does to us)?   Is there a better way to involve people as investors?  What kind of contracts should we have?  How do we protect ourselves from retribution, if the investment is bad?

I'm not sure this is in the best forum, but I can always move it.

Cheers,

Clint

@Ebony Smith,

Welcome to the forum. The answer to your first question is going to be a pretty solid no. Unless you have a substantial amount of money for a down payment, banks are not going to want to talk to you as a business. If you have 20-25% to put towards a property, you will be able to finance the property and then quit claim it into an LLC. As for your second question, you may try some places like Fiverr or freelancer.com

Good luck!

So I was using developer and builder synonymously. We really just want a builder. I don't think we want to do another SFR, unless it is a smokin' deal. The midrise idea is well outside of our budget, but maybe we can find a way to partner and be investors in one...

We will continue to consider multifamily and keep our eyes open.

I live in Vegas and have a couple SFRs here.  We have considered multi-family many times; however, we always walk away.  We do this for a couple reasons.

1) Property values are climbing faster than is realistic due to international (mainly Chinese) and California investors.

2) Mulit-family homes here tend to be in the C/D category for homes and just not worth the risk assumed (for us).

3) Elysian apartments have exploded all over the valley and I feel that the apartment market is going to become saturated very soon.

my $.02

Cheers