All Forum Posts by: Daniel Vieyra

Hello,

An investor called me asking if I wanted to sell my 4br 2ba SFH. I currently have a tenant and the property CFs roughly $300 a month. I have considered selling due to the distance of the property and where I currently live. The investor offered a cash offer but was low and would not be able to even pay off the mortgage with that number. Investor then said if I would be open to setting up a deal where they make monthly payments to me. Investor asked what would my terms would be and we can negotiate. Questions: Has anyone done a deal where you currently have a mortgage and investor takes over the payments? What are general terms you would use in this market (knowing each market, area, etc. is different)? Rate? Length of term? Investor is open for our attorneys to speak in regards to legality.

@Kenneth Garrett thanks for your reply. I do like the paying total interest at the end of the deal. The individual came out of the blue asking if I would be interested in taking his money so he can get in on the deal. Just want to offer him something that makes sense to him and hopefully keep the relationship long term. 

Started a fix and flip business. Things are taking off and documenting my experience on social medias. I had someone that I have known for years (and occasionally talk real estate with) reach out to me asking if I am will to take  in investors where they provide certain amount of money if it makes sense to the person. What are some of the types of deals, terms, rates, agreements do you offer to private investors/lenders? Trying to get an idea of how to construct so that it is beneficial to my business and to the investor. 

@Wayne Brooks thank you.

@Nicholas Aiola thank you

I have set up an S-Corp and working on my first flip. I plan to keep any profits in the business for the first couple of years until I have some flips under my belt and/or making a good amount of money. So I will not be taking a dividend in the initial years. Since I will not take any of the profits out of the business (reinvest), are some owner/employee of an S-Corp taking a salary in the start-up years? Do I need to have a salary in the first years were profits maybe low? Or will the salary start once a dividend is paid out? Once the salaries are paid out via payroll, how are owner/employees getting paid? Once a year, quarterly, monthly or after a rehab project?

Does an IN corporation need to file with the IL SOS if they are performing a fix and flip in IL? I know a foreign Corp can own real property in IL without registering. But if the business is doing a fix and flip does the business require registration with the state?  

@Account Closed awesome template! Very organized and professional. Love it!