All Forum Posts by: David Thompson

So I have a friend who has brought me a deal and wants to partner with me. I've ran the numbers and it seems to be a good property and in my realm of expertise. I have never partnered with someone and I am looking for advise or an article on this subject. 

My friend has the cash and assets to do the deal himself but has no experience. Just wants me to partner with him because he knows I know what I am doing (thanks to biggerpokets) 

Thanks in advance!! 

Start running numbers! When you find the right deal buy it! and now you started!! 

What I would do -  Is just not tell them. I have never had a bank come check out my property even if it is going through a remodel. 

What you should do - Just go to another bank and be more clear about your intentions. Or less clear whichever you choose. 

Good luck! 

I am looking for a private money lender on a great Duplex in North Central Arkansas. Currently under contract and our local banks are having a hard time figuring out how to finance the deal.

Purchase: $72500

rehab: $30,000

total: 102,500

ARV $125,000

Cash Flow $595

ROI 15%

Thank you!!!!

3 bed 2 bath Log Cabin in the heart of the Ozarks!  This beautiful home would be great second home or action rental. Located about 10 minutes form the Buffalo National River. Sits on 2 acres 

Appriased at $260,000

Selling: $250,000

870-688-3067

Pictures

You don't need money to  invest in real estate. You just have to get creative! 

I'd like more Info please. Email me please 

[email protected] 

welcome! 

Always do your math! Good luck and have fun!

Thanks Sam Magina 

Found a 4 plex in my local paper today $240,000

Called the owner and she seemed like a sweet old lady ready to retire

3b 1 bath - 550

2b 1 bath -500

2b 1 bath 500

1b 1bath 420 

total - $1970

tenants pay there utilities

They were willing to owner finance, but I did not care much for their 10 year term 5 year ballon at 5% with 50% down payment. 

I looked the deed up and seen they purchased the property for $43000 back in 2000. Other 4 plex units go for under 100k in my area and under 200k in a larger city north of me. 

How should I go about putting in an offer at 100k without offending the owners and also not losing the owner financing? The property is turn key, with all 4 units rented (according to the owner). 

Thanks, 

David Thompson