All Forum Posts by: Dan Harrison

Hey BP community, This "club" is by far the de facto resource for anything REI. Thank you for all of the support this past year. Here it is......I currently have some options: 1. Access equity in my current residence. 2. Sell 50% of a duplex to access equity of approximately 50k. It will release me of ownership and rental cssh flow. 3. Purchase 50% of the duplex above and generate $150 in cash flow per month plus more equity...likely 20 to 30k. The 150 is in addition to current rental cash flow. Here's the question.....instead of accessing equity, what resources are there to fund a down payment on a 10+ unit commercial property? I'm looking for specific contacts/firms to get out of corporate America immediately!. Thank you in advance for any advice or help. Respectfully, Dan Harrison

Hey BP community, This "club" is by far the de facto resource for anything REI. Thank you for all of the support this past year. Here it is......I currently have some options: 1. Access equity in my current residence. 2. Sell 50% of a duplex to access equity of approximately 50k. It will release me of ownership and rental cssh flow. 3. Purchase 50% of the duplex above and generate $150 in cash flow per month plus more equity...likely 20 to 30k. The 150 is in addition to current rental cash flow. Here's the question.....instead of accessing equity, what resources are there to fund a down payment on a 10+ unit commercial property? I'm looking for specific contacts/firms to get out of corporate America immediately!. Thank you in advance for any advice or help. Respectfully, Dan Harrison

Hey BP community, This "club" is by far the de facto resource for anything REI. Thank you for all of the support this past year. Here it is......I currently have some options: 1. Access equity in my current residence. 2. Sell 50% of a duplex to access equity of approximately 50k. It will release me of ownership and rental cssh flow. 3. Purchase 50% of the duplex above and generate $150 in cash flow per month plus more equity...likely 20 to 30k. The 150 is in addition to current rental cash flow. Here's the question.....instead of accessing equity, what resources are there to fund a down payment on a 10+ unit commercial property? I'm looking for specific contacts/firms to get out of corporate America immediately!. Thank you in advance for any advice or help. Respectfully, Dan Harrison

holy moly....this is a big hill to climb. However, if the problem presents itself, it is asking to be solved. I didn't bother reading all of the posts, but I would first start with a credit freeze with all major credit firms. Then get LIFELOCK to guard against your father's actions. Getting a CD may be difficult, however productive if you can put together 1000. At 12 bucks an hour, you're likely only taking home $9, which would take quite a bit of effort. Either way, maximize your tax deductions and put away $500 to $1000 in savings. It doesn't look like much, but it shows the intent to save and build. As indicated in much of the postings, you will need to network, go to your meetups in the area (or create one) and get to know those who have been in your situation. I am not sure how old your son is, but if it makes sense financially, put that dude in subsidized day care and put your wife to work as well. 

David, when you say "older", what does that mean? Personally, I think one of them had an issue 7 years ago and was charged with assault. Very well could have been a misunderstanding, which is likely since it is now 2017 and no issues since then. The school loans are concerning, given the government can garnish a check whenever they want and however they want. Regarding the prior residence, did you get proof of timely and accurate payment? If not, I would absolutely get it to confirm they are paying on time and in full. Given the landlord said he may sell the home, I really wouldn't count on them moving until there is a "for sale" sign in the front. 

Hi Eric, 

this is great information. Thank you. I should have been more focused in my post. I am raising capital for future deals and understand wholesaling may be a good avenue for that. I really know nothing about wholesaling other than the basics. that said, I have some capital to start, but would need a wholesale business partner to learn the business from...Any additional advice would be very very helpful. 

Hi Mitch, That is what I work in currently as an investor. However, I am open to SFR as well. I am looking to learn and help out as best I can......

All, I am attempting to find a reputable and respected Wholesaler in GA...namely NW Georgia, but not required. 

Any recommendations are very much appreciated. Please feel free to connect with me on BP. Thank you BP community for all the help. 

James, that is a tough one. I am sure you know to be conservative as possible. I have a duplex where I ran the numbers based on the total amount of the loans on the property and adjusted the calculator's interest rate against each loan. Therefore, if I was paying 3% on the first loan of 40K , and 7% on the second loan, the weighted interest is now 4.3%. 

Bryant....it is totally for the giving piece of this business! Community jobs, affordable housing etc....not to mention that giving makes me feel good.