All Forum Posts by: Jasmine C.

#@Michael Borger #@Nick Moriwaki #@Steve Vaughan #@Joe Sillaman  here is an update of the situation.  As I continued to talk to my friend and her ex husband it turns out she simply doesn't know what to do after the sale of the house.  she doesn't have anywhere to go or how to find a place to live.  I'm going to offer to simply help her find a place to rent, move her out, renovate her home, and sell it for her.  In return I will ask for a percent of the sale price and ask her ex husband to pay for the expenses of moving and renovating.  this way I don't have to come up with any money but I'm not sure how to ask for a percent at closing or how much to ask for.  should I set up a promissory note with a real estate lawyer if they agree or do I go a different path?  Do you think I'm on the right track?

that's awesome info. Thank you. I'm going to keep researching and ask her more questions.  I'm so glad to have bigger pockets to ask these types of questions.  I might have ended up making some serious mistakes without your advise.  

@Joe Sillamanshe backed out because she doesn't trust the agents because she doesn't know them so I offered to help without any.  she doesn't speak English very well and she doesn't know many people.  plus she has to sell because her divorce decree said she had to sell it last year.  I haven't offered 750K yet, it was my initial price that popped in my head because I know nothing about flipping and it sounded like a lot of cushion and I know she had that number in mind.  as I'm doing my research it is sounding more like I need to go much lower depending on the cost of financing.  what price would you guys offer?  now I'm thinking 700K or at the absolute highest 725K.  @Michael Borger do you think that is a better cushion or is that still too high a price to offer?  this all happened yesterday so I have a lot of time to figure out financing, I just don't understand my options.

Hello, I have a friend that is trying to sell her house.  she doesn't speak English well and has been trying to sell her house for several years now.  she doesn't seem to trust realtors and has backed out of selling several times. Her house is slowly falling apart but doesn't need major repairs.  mostly a REALLY good cleaning and paint.  I would like to purchase it from her and flip it.  unfortunately the home is in Hawaii and it will cost me around 750K to buy from her but the last home like hers on her street sold for 860K in February so I have a cushion.  how do I come up with the funds?  she has a 500K mortgage so I don't know how that works with seller financing.  her ex husband (not a good break up) needs to sign and he gets a portion so it gets slightly complicated.  I have never raised private money before but I know I could get 300K but not sure if I would be able to raise 750K on my own.  would a hard money lender be willing to lend to someone who has never flipped?  I am a buy and hold investor so flipping is an entirely different world to me.

welcome scott, I am a buy and hold out of state investor located in hawaii.  it is totally possible and happy hunting.  I plan on making a meet up for investors every month.  if you would like to come send me a message

I am currently doing a 1031 exchange in an appreciation state and moved the same amount of equity into turn key properties out of state.  I was looking for exactly what you said in your post too.  if you want to know where and what I bought you can message me.  it was much more confusing with the rules than I was expecting. so make sure you fully understand the rules.  happy hunting

yes. I already have 8 confirmed so far. I will be there early. So I you are coming please let me know.

hi. I'm doing a meetup for investors this Wednesday the 25th at 6pm. It will be at the Kapolei Kroc center. If you are interested in coming please message me before Wednesday. Topic is appreciation vs. cashflow. Come with your argument and be prepared to defend it. 

much better to rent at first. That way you can wait for the right home and more importantly, the right price. Prices don't always go up. Every once in a while they go down. That's when you want to buy something so expensive, when it's on sale. Ewa is growing and Mililani is not. The future is in Kapolei. Mililani is the place to be now but it won't be in ten years. 

good morning.  I am trying to scheduling a BP meet up next Wednesday May 25th at 6pm. it will be at the Kroc Center in Kapolei. The topic will be appreciation vs cash flow. come with your arguments and be ready to defend them. please message me if you have any questions on how to get there and if you will be attending. Hope to see you there.