All Forum Posts by: Guillermo Oyola

Thank you all for the feedback and advice. 

Initially, I wanted to partner with GC because they can fund the rehab costs. I'm planning on funding the acquisition and holding cost. Estimating total all in for my investment would be close to 130k. Obviously I would take greater split because I am investing more money and taking greater risk. Another reason I wanted to do this, is so I can use my remaining cash from a HELOC to use on a different property.

Btw, if anyone in Central Florida Volusia county in particular, maybe we can partner up. 

Thank you all for the suggestions and advice. I'm thinking since this is my first time attempting to fix and flip, I will hire GC instead to see how they work and learn along the way. Ideally, I would like to build relationship with them to do go into business together. 

@Vahid Mostafavi

Have you decided on on how to structure your partnership and how to split profits? I’m looking to partner with a GC as well for my first flip. I’m finding and funding the purchase along with holding costs. Not sure how to do the split or just pay him as GC?

I've been wanting to get into fix and flips for some time. Close family friend and realtor has suggested I try partnering with a General Contractor she knows well and has worked with in the past. The GC is wanting to get into fix and flips but cant find the deals and also maybe short on capital. I can find and fund the deals. We both bring something of value for each other. In this scenario, what would be a fair partnership structure and splits?  

I would want to continue to do this and build relationship if all goes well on first flip. Please help as I am not sure on how to make it fair for both parties. 

I plan on doing BRRRR. Looking at a property now and numbers make sense. Just need to offer cash to the buyer who is in distress.

Thanks for response. I have pen fed on my call list. I'll be contacting them first thing Monday. 

You should look into house hacking. I've never done but would like to do next time I move. You can basically live for free by having the rents from the other units pay for your mortgage. I live in Slidell, so not many multi family units here but in New Orleans it would be a good idea. 

Hello BP family. Which banks are doing HELOC now? I've called a few the banks I know but they are not doing at this moment. Looking for HELOC for my primary residence in Louisiana. Or will cash out refi be better choice? Which is faster to get cash? Just did cash out refi my rentals and took around 6 weeks.

Hi Courtney, sorry just seeing this as well. I need to check this at least daily. I'm most definitely try my best to make the next on in Covington. 

@Courtney Fricke

Hi Courtney, would love to know when next meet up or webinar is happening. I've had really good success with cash flow on my 2 SFH in central Florida, so I been mostly checking there. But I been now living in Nola area for almost 4 years so I would like to tap into this market.