All Forum Posts by: Evan Anderson

Thanks Ian.  

Here is a follow up question.  In this case, my partner would like to keep his name off the property, so it would be in my name only, if we put both our names on the account would the property need to be held in both our names as well?  

Another related question comes to mind.  Can this be transacted as a private loan, whose terms are tied to the property?  i.e. rather than paying interest the loan would pay back based on the proceeds from the sale of the property?

Hello everyone,

I have a question about how combined funds must be managed in order to purchase a property with a partner.

A friend and I would like to combine our funds to purchase an investment property.  We will sign an agreement and I have no concern about the partnership or the terms, I am simply wondering about the technical requirements of the literal procedure for combining funds for the purchase.  How must we manage the funds?  (For example, the easiest method I can think of, is it acceptable that one of the partners write a check which is commingled with the funds in the other  partners checking account, or would that count as taxable income for the receiving partner, or entail other pitfalls.)

Any input is appreciated.  Thanks in advance.

Thanks.

Hello Everyone,

All else being equal, do you think a single family home rents for more than a comparable multifamily unit (same number of bedrooms, baths etc.)?

I would guess so, since there is added value in the privacy but maybe that is not the case in practice.

How is everyone?

When making on offer on a property as a wholesaler, how does one determine whether to offer based on the flip value of the property or with the rental value of the property?

Simplistically, using these general formulas:

Flip offer = (0.7 * ARV) - flippers_costs - closing costs - wholesale_fee

Rental offer = (0.9 * Market_Rate_for_comparable_rental) - closing_costs - wholesale_fee

Thanks.

That's a good link, thanks.

Thanks.  That makes sense.  I would assume that if it is assigned, then the seller would need to provide the TISH for the assignee, and so I would facilitate the completion of the TISH report as part of the service of being a wholesaler.

Hello, I am interested in trying to wholesale properties in St. Paul Minnesota.  I know that in in this city a truth in housing (TISH) report is required before posting a property for sale.

When wholesaling a property in St. Paul (lets assume a SFR) is a TISH report indeed required? If not, why not? And if so, what advice do you have on how to get these accomplished quickly?