All Forum Posts by: Franck Brichet

Hello,

I'm a buyer and the seller is willing to do seller financing. 

Purchase price $300,000

Downpayment $25,000

I will pay the seller $5,000/mo for 1 year (while I rehab the house) and then balloon payment at the end of the year when I sell the house and it closes. 

$300,000 - $25,000 - $60,000 (12 x $5,000) = $215,000 

Balloon payment $215,000.

The seller still has a mortgage and pays $1,500/mo.

Should the monthly payment that the seller maked during the year be added to the balloon payment? $1,500 x 12 = $18,000.

New balloon payment would = 215,000 + $18,000 = $233,000.

I'm not sure if it should be included or not. Thank you for your help in advance. 

Franck

Hi, 

I have 4 off-market properties available in Independence, Missouri. Seller wants $65,000 for each (total $260,000) and it generates $2,800/month in rental income. 

If you are interested contact me at 913-645-6529 or [email protected] and I can send you videos of properties. Need to act fast. 

Seller already has 1 offer at $248,000 and will take the first offer at $260,000.

Hi,

I was a 5th grade teacher for 11 years and have $47,000 saved up in the retirement system. I’m 40 years old and if leave it untouched I will be getting $10,000/year starting at 60 years old for the rest of my life.

I quit teaching a year ago and am now a full time realtor.

I’m considering taking out the $47K and investing it in real estate here in Kansas City, where I work and live.

I feel that I can make more by investing it myself rather than leaving it in the system but at the same time I don’t want to make a big mistake that I might regret down the road.

Any tips or advice on this?

Thanks in advance!

Franck

Thanks for your response @Ramon Vasquez. I will keep that in mind if he wants to wholesale. It's not the case for these properties but who knows, maybe in the future.  

Hello BP family,

A client of mine is a rehabber and he's able to get houses in Kansas City for close to nothing. He just closed on 5 houses (After repairs, houses will sell for about $250K to $300K). I am a newer real estate agent and he's asked me to find some private lenders to help him finance the rehab of these houses. How should the deal be structured? How much money should he expect to pay private lenders and how should I be paid as the deal finder or as the one putting this deal together? (This is new territory for me).

Thanks in advance for your advice!

Franck

Thank you for your responses. Appreciate it! 

Hi,

I am doing my first BRRRR and am about to refinance it next month. Need help figuring out which option is best:

ARV $410,000

Option 1: refinance: New loan of $225,000 no cash out at 4.25% on 30 years

Option 2: refinance: New loan at $271,500 (65% or LTV - $46,500 cash out) at 5.625% on 30 years

Is it best to take out $46,500 (for a new BRRRR) and pay 1.375% extra in interest? I think option 2 is best but want to make sure by asking the pros.

Thank you!

Franck

Thank you all for your feedback! It makes perfect sense and I'm glad I asked that question before doing anything. I agree with all of you, probably not such a good idea. :)

Hi, 

I am a realtor in KC and I work in a team of 15 realtors/admin. Our team wants to start investing together and I’m trying to gather some information on how to structure our entity to make sure we have a good foundation in place. Can anyone share information on contracts, systems and "rules" to put in place before we get started?

Thanks a lot!

Franck

Hi, I am a real estate agent and investor in Kansas City. I am looking for an investor to go on 1 or 2 deals with me. Need about $70,000 down payment (20%) for each deal. We are trading time and expertise for money. You invest the money and I am your boots on the ground doing the work, putting the deal togeter and handling the daily management. About 20%-25% cac return to be split 50/50. WIN-WIN

What's in it for the two of us?

Great location with good appreciation + cashflow $1000 to $1800 per month to be split in half + tax deduction + equity gain by paying off mortgage each month.

Contact me for details.

Thanks!

Franck