All Forum Posts by: Ruben Morgan

I think those lenders now do HomePath financing. There is HomePath and HomePath Renovation financing. Only certain direct lenders can perform the financing.

Rescheduling would be great.

I'm actually getting married this weekend (May 10th), so this week is pretty busy for me...

The correct answer is you give them as little as possible to make it worth it for all parties involved. Sorry for the answer, but it really needs to be looked at on a project by project basis.

I've seen JV partners take as little as 20% and as much as 80% depending on the deal. Typical ranges are from 20-50% however.

Questions to ask yourself when considering taking on an equity partner are:

Is this the least expensive money I can acquire to complete this deal?
Would the deal make sense if I was the equity partner?
What is the break-even point of the deal?
Is there debt service on the borrowed money? (There shouldn't be in an equity sharing scenario...)
Do I have a viable exit strategy to cash the equity partner out?
Does the equity in the property justify an equity partner?

To be honest if all you need is $1,000,000 to get this deal done I can help with that. No debt service on the $1,000,000 and you can keep 100% of the equity in the project. PM or email me for more information

Thanks,

What kind of property is this?

Where is it located?

I have a 76 unit apartment complex that I am about to purchase subject to for $2.2million. The seller is willing to carry 100% of the financing ($1.76million) as long as I pay his exit costs. There is about 36% vacancy, and the units don't need any substantial rehab.

His exit costs including brokers fee, title, tax, etc should be less than $150,000. Can I get a bridge loan, or should I seek an equity partner? I need to close in 21 days of acceptance (which should be today).

If I have an equity partner I am of course willing to give up a substantial portion of ownership in the project.

What should I do?

Thanks guys.

I should have one shortly.

I'll keep the thread updated.

If you are a creative Colorado real estate agent that works with investors please contact me.

I pay between 2-6% commissions on my transactions.

The week before last I acquired 2 homes and early next week I expect to have 4 more under contract. I try to buy 3-10 single family residences per month, and am looking to expand upon that in the future.

If you are a Realtor and are interested please PM me or email me for more information.

Thank you,

I almost signed up for Rich Dad mentoring. It is over priced and the reviews are bad.

That being said I really like his books. The first Rich Dad book was one of my great inspirations to start my own business and get out of the rat race...

Lol - how much cash flow?

I don't want to spread my self too thin. I'm trying to learn the short sale game and them move it in to investment properties w/ tenants, and monthly cash flows.

I have this question too.

I have seen from my research that if 'title seasoning' is an issue then a Land Trust should be used. Title seasoning becomes an issue if a property is flipped in less than 6 months or during a double close. It also seems like a land trust offers a little more legal separation than does an LLC. I'm sure using a combination of the two would probably be best...

Bump for more opinions