All Forum Posts by: Russell Tidaback

Curt,

If you do get deal documents, please share them with me so I can learn as well.

Great question!

Russ

Thanks for your post Ann. Sorry my responses seem cranky. I do appreciate the information received.

Respectfully,

If you consider your self a "South Floridian"...just kidding. If you live/work/invest/play in South Florida, lets connect and network to show the rest of the BP members how we do things when we aren't enjoying the sunshine state and the absolutely B-E-A-utiful weather year round!

Russ

Count me in...

Sara,

I am in the Central South FL area between Ft Myers and West Palm Beach area. If I can assist please don't hesitate to ask.

Russ

@David Weiss, Great analogy and you do make perfect sense. I Thank you greatly for your reply and what you do at NorthTexasHelpingHand for others.

While there are assumptions made about this post such as I've never owned investment realestate, collected checks or have no "skin" to put in the game wasn't divulged and is incorrect. While I may not have $4M or $400K "skin" to put into one deal I am going to take your advice and use it to our advantage and again I thank you for the uplifting and mentoring style reply.

Now back to the original post...

Does the below edited post change the perspective of the post?

-------------------------------------------------

We are looking for a "funding" partner. A POF will be requested, at the appropriate time.

Preferably someone has done "this" before on a project by project basis; will have a signed understanding in place before any real estate contracts are signed or work is done.

Right off of BP, here are negotiable terms to get the conversation started:

- Who is putting up funds and how much are they giving?
- What is the percentage split of funds?
- Who will be actively managing the property?
- What will each partner's specific responsibilities and expectations be in the day to day care of the property?
- Who will be on title?
- Who will apply for the loan?
- How will expenses be covered?
- How will future capital contributions be dealt with?
- How will any monthly profits be split?
- Exit strategy, predetermined and agreed upon.
- If sold, how will the proceeds be split?

If we cannot make money on the front end and have the portfolio pay for itself monthly we do not pursue. We do not get emotionally involved, we are a strictly numbers business.

What we offer is due diligence, management experience, budget expertise and honesty for a long-term relationship.

-----------------------------------------------------

If it does change the perspective I would like to know why in your opinion. The words removed seem to be what everyone who replied focused on; especially "50+ units".

Again, I'd like to know your opinion, as I'm sure you know in marketing, every word counts.

Your thoughts?

Respectfully,

Russ

Thanks Don, I do appreciate your input. Your advice is received and understood. I hope to be able to do business with you, with a proven background.

Have a good weekend.

@Ann Bellamy,

Thank you for the insight and I do appreciate everyone taking the time to reply. I hope I am not coming across as standoff-ish or even an expert at anything. I am trying to get off the fence and get into the investment realestate business. As stated before, I have been birddogging for many years, finding leads for others, member of different REI clubs, talk the talk but never took the leap of faith and did it for myself.

All the things I stated earlier are true and exact. I am not trying to lie, cheat or take advantage of anyone. My original post, in the first 4 paragraphs, it states to start conversation. I am surprised that it did generate any conversation but wasnt expecting the direction and/or tone it has taken.

I respect @Don Konipol input, experience, knowledge, expertise and respectfully ask of his assistance. If he wishes, he could contact and mentor us as we move forward with our future. If not, we understand as even as you stated, "But both of us get lots of calls and emails from people", Im sure you are busy people too.

But... If I "don't have cash, or experience, don't have an inside track on a killer deal and don't bring much to the table for a funding partner...am I suppose to quit trying to learn, network to build relationships, and possibly share our benefits to a prospective partner? That doesn't sound productive.

Look at my post from another point of view, without out reading others post replies...the initial post was professional, intelligent and direct enough to get your attention, yes? The post could have stated, "Hey, I need $20M. Who can spare some packet change."

If anything comes of the initial post and the replies, I hope to at least meet someone who would rather mentor someone than bash on the lack of "experience". I am not stating Don, Craig, Ned or you are bashing but no one has offered to assist beyond what I call, here is my answer now let me kick you to the curb. I hope you and anyone else reading this sense the humor and uplifting manner in which I am trying to present.

Again, I am glad the post basically started conversation. While it may be a harsh kick in the gut, it still is a learning experience.

I am willing to work with/for anyone who wishes to mentor and work with us on making us as successful as everyone here who has posted. If this interests you, contact me directly.

Respectfully,

Russ

Ned,

...I was beginning to question BP usefulness through the replies given. You are correct, SEC laws, my typo. I will be more specific in any further posts. Thank you for looking out for me.

Can you delete this entire post so I don't get flamed about this. I've learned my lesson!

Don,

Thanks again for the reply and recommendation. Again, I am not new to the game. We have researched the IRS regulation on solicitation of private investors and JV inquiries. Nothing we do or have done is illegal and all is backed by a real estate / business attorney.

Please educate me/us on what "regulations, both state and federal regarding the raising of capital" you are referencing from what you have seen from my post here on bigger pockets.

I'm sure someone who lists themselves as a hard money lender with 1400+ posts, 13 awards here on BP and is a general partner with 500+ deals done doesn't mind assisting new guys to the game, rather than post something semi-negative towards them on a message board and kick them to the curb.

If you really are who you proclaim to be, you'll understand and will want to assist us, not bash us. I would be glad to talk with you directly, even take you on as a mentor but not in this forum.

If you want to work and mentor us, share your knowledge, experiences, contacts and networks please contact me directly; [email protected].

Again, thank you for your post and hopefully I hear back from you directly.

Respectfully,