All Forum Posts by: Joeseph Bivona

Hey Everyone. My name is Jake Bivona and I am looking for a ticket to BPCON 2022 in San Diego. If anyone has or knows of someone selling a ticket please let me know ASAP! Thank you 

Thank you Rick i appreciate the feedback. 

Does anyone who's read Joe Fairless syndication book have a strong grasp on how to use the "Census.gov" website to compile data. Im struggling finding the tables that im looking for. I'd gladly compensate for the time it takes to explain!

Hey everybody, 

I have a deal in line where the owner will hold the title while we fund the construction. 

Does anyone have any advice on how to structure the contract to keep ourselves protected? 

Hey everyone, so im looking to purchase 2, 4 unit properties, but i show very little income the past few years. 1 of the properties is turnkey and the other will need some updating which i plan to BRRR. I have the funds for a 20% downpayment on each. I was wondering if anyone had any advice on how to go about getting a mortgage/Refi on these properties with my financial situation. A bank that will lend on the projected performance of the properties? Maybe one that will take into consideration my projected income for this year? These will be my first acquisitions without a cosigner so any and all input will be greatly appreciated.

Thank you both for your response. 

i honestly haven't even explored the syndication costs. Im very green as far as raising capital is concerned. I will have to find out exactly what those costs are in my market. Maybe to start if the costs don't hurt my margins terribly i'll use the investments under 20k on projects with a quicker turn around to build some trust with the investors and to build a resume, then raise the min. 

@AJ Shepard Thats something to consider. I've been going back and forth on raising a fund and just paying interest over the course of the year, or raising funds per deal and having roi being based on the turn around time of the deal. 

I've thrown out some feelers and it seems most of the people i've reached out to have been interested in 4% every 4th month with the option to pull their return or let it compound and an option to withdraw their principle investment annually. I'll have to make my decision after a discussion with my lawyer and my accountant and upon discovery of the legal fees per transaction. Thanks again for both of your thoughts. 

Thank you for your input Kyle. We do work with a lender with a rate of 10% / 3 points / covering 100% of the Reno and 80% of the purchase. We're currently looking to gather private money to essentially just cover our down payments and sometimes points and fees.

For instance for our next 5 projects with the first closing June 15 and the last 2 closing Sept 15, our down payments are going to be; 35k, 24k, 42k, 90k, 60k. So we'd like to raise the funds for that, not to fully the fund the project. I agree that 10k isn't a grand investment and will require us to work with a large amount of investors, but as i mentioned i am approaching mostly young professionals. However I do expect to get multiple larger investments and am confident we will be able to manage all of the investments. I was suggesting putting together large funds to fully cover projects as an idea for down the road, irrelevant to what i'm looking to do currently. 

Im just trying to structure this is in the most attractive way possible to investors, without putting ourselves at a disadvantage. 

My partner and I have a very full pipeline of deals coming up now with covid (hopefully) subsiding. We are quite liquid and have been able to fund our first few, but we're now wanting to invest our own capital into building a rental portfolio and collect private money for our flips and new builds. Im asking for minimum investments of 10k and generally approaching young professionals. I'd love to very soon put together large funds to fully fund projects rather than fund our down payments and points, but this is a good place to start I think. 

Originally my plan was to offer a 10% annual return on whatever the principal investment was. While that is a strong return, I dont know that people will exactly jump at the idea, as there money would be tied up for the year, or at the very least the duration of whatever project we put their specific lump some towards. The issue with paying out by the project would be that some projects will turn around in 3 months and others a year. 

My next thought was to offer a 5% return every 4th month, with the option to let the interest compound or to withdraw their interest. A friend of mine offered 5% quarterly, but that seems like too much? 

If anyone has any experience or ideas on how to structure these investments i'd greatly appreciate your input.