All Forum Posts by: Erica Sherwood

I have the contract on a MH Park. I was approached by an investor who wants to form an entity with me. Limited Partnership. He is bringing lender and money to the table both of which I do not have. How do I do this deal where I'm still in control and don't get taken advantage of? This is my first Park and have been struggling with trying to get a plan together to get financing. I'm still in feasibility period. My financials are okay but probably not enough to get this large of an amount. Where do I start?

I have the contract on a piece of income producing property. Where do I look for a lender who will finance something with a 10.1 cap rate and 23% ROI? What will they need from me? It's 1M and I have 40 days.

I have the opportunity to buy property not on the market. They are ready for a contract and want to sell and retire. What do I do? I don't know where to get contract forms or to know exactly the wording in the contract. Real estate lawyer perhaps? It's a positive cash flow mobile home park.

Thank you everyone. She is not on the deed and she didn't know what a power of attorney was but I worry about her coming after me. What recourse would she have? I'm putting 120k cash down and I don't want to lose my cash. Title should be able to search all the variables correct?

What is a kitchen table deal? We both have agents.

No I wasn't there when he signed. He has a real estate agent and I have a buyer's agent.

He seems very bright but old so I'm not sure what to do in this case. I've given escrow and option money and we close in a week.

I recently got a contract on some property and today when I was at the property a family member of the seller drives up and starts to ask questions. She says her dad owns it and has dementia and anything he signs isn't valid. Strange but a little alarming. Any advice from you guys would be appreciated.

what do you mean @Joseph Ball ? 

I have just found two deals I am thinking of diving in to. I have done the 50% rule and the numbers work. What about Cap rate? Does that matter and should it be low or high? Is there a real estate evaluator calculator on here? Thanks in Advance and keep in mind I am so new this that initialisms are permitted but discouraged. lol