All Forum Posts by: Account Closed

@Christopher Telles - Thanks... great idea. I'd love to take a look at what you've cooked up.

@Brad M. - Understood. Thanks for the suggestion.

Hi @Doug W. - Thanks... Yes, both would be required (capital and experience). This is a fix/flip so in terms of experience level, I would be interested in talking with anyone with more than 5 of the same types of deals in their portfolio. But I'm not sure how this would change the way I vet those individuals. To clarify... my post wasn't a call to potential partners, only a question on how to approach establishing those relationships from a trust standpoint.

@Jane A. - Good suggestion. That would work but being new to investing, I preferred the partner was local with a little more personal interaction.

@Brad M. - Thanks for the feedback! It's not so much a matter of getting the loan, I'm more worried about exhausting my capital on the down payment and expected rehab costs and then being stuck near the end because of some unforeseen issue that costs me another 5-10k. I have contacted a couple of my contacts to see if they know of anyone. My post was more of a proactive question as I pondered the "what if" I couldn't find someone in my network.

As a Solo 401k investor, the LTV requirements for non-recourse loans is putting a current possible deal for me a bit out of my price range. There is a lot of opportunity in a particular property I've been looking at, and I don't want to let it slip away but it's pushing the limits on what I can afford or am willing to put in - leaving very little room for extra capital needed for extra rehab/holding costs that may come along.

I thought this would be a great time to partner on the deal I'm curious how to go about sharing the details of a great deal with someone I don't know. What would keep an unscrupulous individual from stealing the deal once they have enough details to find it? I know most of us here at BP are stand up folks but sad to say, I've learned the hard way many times, to default to a defensive stance.

At some point I know I would have to reveal enough of the deal to make the potential partner comfortable to agree or not. 

It seems a bit like a hostage swap - at some point you just need enough of a comfort level to let it go and trust the other guy to not be a dick.

Thanks for any advice you can give on this matter.

Welcome to the BP family Andrew.

I've found that many wonderful contacts can be made by simply participating in the forums. Even as a newcomer, you can find many ways to contribute and make valuable connections.

Good luck and welcome!

Hi Dave.

Welcome to BP!

I've found the best way to find colleagues/partners is to start contributing on the forums and attending local REI meetups. You'll find some great ones on meetup.com. I guarantee the more you participate in the community here, the more great people you'll meet.

Good luck as you begin your adventure!

Welcome Tony and good luck on your way up!

@Bhairavi Patel - I think the new one you may be thinking of is Jeff Valentino's? Here is a the link.

Hope to see you around Tony.

Very excited about this Jeff. Thanks for setting it up.

See you all there.

@Scot Howat - Thanks for the tips. Would you be willing to share your attorney contact with me or recommend others you have used/considered?