All Forum Posts by: Dennis Jervier, Jr

@Ismael Reyes

CONGRATULATIONS !!

Keep us posted on your journey's progress.

@Kenneth Garrett

My late Dad deeded this property to us 2 years before he passed away.

We have no operating agreement set up, but we manage this property with difficulty.

Differences of ideas, management styles, relationships with tenants.

I approached him on numerous occasions about selling, he believes we won't be able to get a fair offer.

I also offered to have my attorney write up an agreement for my share of rents to be paid for 2 years + my monthly payment for the difference for his agreement (signature) on a $25-$30K equity loan.

His reaction was he doesn't feel comfortable with it.

I'm really feeling that we need to go our separate ways with him buying me out for a fair price.

We just can't agree, fundamentally, on hardly anything

2 Questions :

1). How can I pull out equity, if my 50% partner, (Brother), refuses to agree on selling, allowing me to buy him out, or signing off on me borrowing any equity.

Can I borrow any equity, even though I own half ?

2). Can I establish business credit, or deal funding (Hard Money) to raise capital from fix/flips to fund more projects instead this year ?

Advice, Comments are greatly appreciated.

I need to know has anyone used Dohardmoney.com for funding on any of their deals.

Comments ? 

Recommendations ?

6 Unit - Needs Total Rehab 

Asking $60 K

ARV $230 K

Advice - Comments on should I Buy & Hold or Wholesale this deal. 

Thanks, 

Dennis 

Hello Annette, 

Dennis from Chicago. 

I posted a message of encouragement earlier today.

Keep in touch with,  and stay connected to positive people.

They will always be a source of positive feedback and advice to you .

Good Luck !!

Dennis 

Annette, 

Dennis, 

I know exactly how you feel and where you're coming from. 

My Dad, Brother, Mother, and other's think my creative financing ideas are too risky. 

I own a property that was deeded to me and another family member. It's free and clear !

No mortgage,  just collect the rents.

My 50% co-owner doesn't want to invest in anymore properties. 

All this equity and I can't move forward  !

I'm not about to stop. I'll use one of several techniques to raise capital. All the "It won't work, or you're not in that league yet talk is too much to handle.

I must be successful and prove to myself,  and family,that I knew I could do it all along.

Screen out negative comments and views and stay the course !

You can do it !

Dennis 

 Hi Luis,

Dennis, 

I received an email from a wholesaler who's partners are trying to cash out.

I seriously thought about trying to aquire it myself,  but it's too expensive of a project. 

Should I try to split the wholesaler fee, it I locate a buyer ?

This would be my 2nd property, but 1st whole sale deal.

Advice, comment ?

Dennis 

Good Morning All -

I need Your Views & Advice on this possible deal I'm thinking about doing. 

6 Unit Brick

Asking $60K

ARV $ 230K

Total Rehab

Location - Not to good of an area in Chicago 

Comments - Advice - Views - All Welcomed 

Thanks,

Dennis 

Good Morning Everyone -

Dennis,

Question,  Buy & Hold / Fix & Flip / Wholesale?

6 Unit Brick

Asking  $60K

ARV $230

Needs Total Rehab -

Location - Not too good of a neighborhood in Chicago 

Advice & Comments ?

Thanks,

Dennis