All Forum Posts by: Hannah Lewis

Thats awesome, congratulations!! Do you have a recommendation on a closing attorney and/or title company that you've used? 

Hello Travis,

Did you ever purchase any investment properties in Albany? 

Thank you @Craig Anderson and @Angelo Forzano for taking time to offer your insight on this. We're gonna start off with one deal and see how it goes. I'm making two offers today, I'll be sure to post my progress if any of the offers get accepted : )

Hello everyone,

I've found an investor who is interested in investing with me. I'd like to BRRRR, or find a turnkey rental. I don't have a total of 25% saved yet for a down payment, however I have the experience (being a property manager) and the ability to qualify for the loan, in addition to covering the other costs and fees associated with the loan.

The plan is this;

For the investor: (would like to be minimally involved, more so to be a hands off/silent investor) will contribute to the down payment needed to purchase the property with a conventional loan up to 25% of the LA

Me: I will find the property, fix up if needed, rent out the property and manage it. (I've already have a vetted team to do all the rehab and turnkey work)

I initially was offering 10%-12% return on what is provided from the silent investor. Looking a little bit like this;

EXAMPLE:

Est Sales Price: 150,000 (Loan in my name)

20% down payment: $30,000 (money from silent investor)

10% deal: $3,000 profit at the end of 6 months either broken down in monthly installments: $500 monthly pay out to silent investor for the 6 months or paid in full at end of 6 month term.

They'd get their full investment paid back in 6 months plus the 10% earned either monthly or in full at the end of 6 months.

My questions are as follows;

Is this a good RTI for an investor? 

If not would 12% be a better option? (This is someone I know, I'm not looking to short change this person on the deal, I'd like to provide an industry standard rate of return)

What type of contractual documents should I have drawn up for this? (This is someone who knows what I can do and trusts me to do what I say I'm going to do, however I want to be professional in every aspect)

Should I seek an attorney to draw one up for this agreement?

Is there anything that I should be considering with this scenario?

Thank you all for your time and insight on this, I truly appreciate your time in doing so!

Thank you Brian Van Pelt, for this information, I hadn't considered going this far back on MF sales. Best of wishes on your continued success!

Hello my like minded savvy investors. My name is Hannah and I'm an investor in Gwinnett County GA. I'm looking to partner with other investors who are in the value add, buy and hold side of investing. I'm looking to do what the industry refers to as BRRRR investing.

About me: I've spent 15 years in multifamily, commercial and single family property management, from 2005-present. With 10+ years on the multifamily asset management side of things. I've successfully managed multi million dollar assets for investors of unit sizes from 250-980 units within multifamily. My experience in management entailed onsite operations, mostly on value add assets that included (tenant relations, financial management, employee management, due diligence and take over projects, major CAP X renovations)

What I'm looking for: Investment educated partner who has the financial means to invest and has the goal of being a buy and hold investor. I'd like a partner who ideally has invested before and understands the process investing entails. I'm open to working with a newbie as well, either way my preference is to meet, discuss my business strategy and see if we would work together successfully.

I'm comfortable managing every aspect of repositioning an asset, I'm now looking to do it for my own financial freedom instead of working a salary position and going it for someone else. I'm looking to invest in SF, ranch style properties on, a basement or slab in Gwinnett County GA. I'm also looking to purchase, SF/ multifamily assets in Ramsey County or Hennepin county Minnesota.

I'm open to feed back from seasoned investors on where to find serious partners, if you know any other resources please DM me.

Please respond with comments or DM me for a time to meet and discuss how we can assist each other in achieving our investing goals!

Thank you all,

Hannah

@Andrew Simms thank you for the insight. I was planning on doing a full gut rehab with updates to electrical and all major systems. I assumed if this was done I shouldn't have any repairs that are not covered by a warranty or at least very minimal in cost. This analysis is on a SF home. I see you're local to GA, If you come across any SF deals in Gwinnett County please let me know, I'm looking to purchase SF homes built in-between 1950-1980 on a slab or basement. Thank you for providing your insight, it was helpful!

@Tim Herman thank you for the information, this was very helpful : ) I will re run my numbers with this in mind. 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Melba Chambers thank you for your time and response. I plan to do a full fit rehab with a budget of $50k. During this all major systems(plumbing, HVAC, electrical) will be updated and replaced. Unless something major happens, there shouldn’t be any issues on the maintenance side of the home. Also yes, I’m experienced in property/project management and plan on managing the property on my own. Was there anything else you noticed I may be missing or have any insight on anything?