All Forum Posts by: Kamie K.

My partner and I are heavily pursuing multi-family and apartment complexes under 10 units as our first joint venture. We recently found an interesting commercial deal with a lot of opportunity. It is a 9 unit complex - (6) 1 bed 1 bath units and (3) 3 bed/2 bath units. The rents are currently way below market rate and its current gross monthly income is $2,750. The comps show that we can raise rents high enough to bring in at least $4,500 in rental income. The only caveat is that the seller wants this to be a cash only deal with minimal owner financing. His asking price is $190K, but we to start with a low offer since he is asking for cash. The assessed value is $169K and he owns it free & clear.

We need help structuring an equity partnership that will be mutually beneficial for us and our partner. We're relatively inexperienced; my partner is in the middle of a live-in flip with her spouse now, and this will be my first investment. We know that our future equity partner will take our lack of commercial experience into consideration when structuring this deal. We'd really appreciate it if you experienced investors can take a look at a few of the terms we've been playing around with and give us feedback letting us know how we can sweeten the deal for both the equity partner and ourselves.

Asking price: 195k cash

Assessed value: 169k

First offer: 130k

Max offer: $165K

Repairs: $5-10K, which we can fund without help

Current Yearly Net Profit: $25K

Current Cap Rate: 13%

Based on the info provided by the owner, the current expenses are close to $800/month excluding property management. Ideally, we'd like to have an equity partner who can leverage their assets to fund the entire deal, and we handle 100% of everything else. The equity partner would get 50% of net monthly cash flow with a buy out after 3 years. To buy them out, we plan to obtain a mortgage and pay them their remaining contribution (excluding their previous monthly payments) with 15% interest on the remaining balance, compounded quarterly. Any feedback on how to improve or revise this partnership is greatly appreciated. We are looking to find an equity partner and put an offer on this as soon as possible, after the owner answers a few outstanding questions.

My partner and I are heavily pursuing multi-family and apartment complexes under 10 units as our first joint venture. We recently found an interesting commercial deal with a lot of opportunity. It is a 9 unit complex - (6) 1 bed 1 bath units and (3) 3 bed/2 bath units. The rents are currently way below market rate and its current gross monthly income is $2,750. The comps show that we can raise rents high enough to bring in at least $4,500 in rental income. The only caveat is that the seller wants this to be a cash only deal with minimal owner financing. His asking price is $190K, but we to start with a low offer since he is asking for cash. The assessed value is $169K and he owns it free & clear.

We need help structuring an equity partnership that will be mutually beneficial for us and our partner. We're relatively inexperienced; my partner is in the middle of a live-in flip with her spouse now, and this will be my first investment. We know that our future equity partner will take our lack of commercial experience into consideration when structuring this deal. We'd really appreciate it if you experienced investors can take a look at a few of the terms we've been playing around with and give us feedback letting us know how we can sweeten the deal for both the equity partner and ourselves. 

Asking price: 195k cash

Assessed value: 169k

First offer: 130k

Max offer: $165K

Repairs: $5-10K, which we can fund without help

Current Yearly Net Profit: $25K

Current Cap Rate: 13%

Based on the info provided by the owner, the current expenses are close to $800/month excluding property management. Ideally, we'd like to have an equity partner who can leverage their assets to fund the entire deal, and we handle 100% of everything else. The equity partner would get 50% of net monthly cash flow with a buy out after 3 years. To buy them out, we plan to obtain a mortgage and pay them their remaining contribution (excluding their previous monthly payments) with 15% interest on the remaining balance, compounded quarterly. Any feedback on how to improve or revise this partnership is greatly appreciated. We are looking to find an equity partner and put an offer on this as soon as possible, after the owner answers a few outstanding questions. 

I hate that I missed this. I have been out of the loop for a while. I was in the Houston market and just recently moved back to Atlanta. When is the next meeting?

I am new to this so please dont chew me up and spit me out. I know that it is probably best to go straight into wholesailing but I would like to get a better feel for the market and master finding properties and estimating repair cost before I go straight into wholesailing. I really dont want to mess up my name and I put pride in my work and have a genuine interest for finding properties.Does anyone know how to find quality investors seeking bird dogs? How did you do it? Can you tell me about your first transaction? I have posted several ads on Craigslist and backpage and have not recieved any responses.

1. Start bodybuilding
2. Complete my first deal
3. Take action
4.Rent out at least one house

Thank you all for welcoming me with open arms.

Joshua - Thanks for the tips. I have set. Up my alerts and I have a headache from reading all night. There is so much information on this site an I am very proud to FINALLY be a member

Chuck- I will consider your group. I was looking to join the RICH group at the begining of the year. Have you heard anything about them?? I really want to become active with a Investment club.

Brandon- I am glad as well. A plan without work is just a dream and it's time for me to stop dreaming.

Tiger- I work in multifamily

Hello Everyone!! I am a newbie from Houston, TX. I do not currently have any Real Estate investing experience but things are about to change here shortly. I have been researching and lurking for a long time and I have finally decided to come out of the closet. I currently work in property management in the Houston area and I will be working on my Texas real estate license in January. I am looking to network and soak up as much information as possible. If I can be of assistance to anyone especially in the Houston area please let me know. I am looking to start bird dogging & wholesaling properties and then venture into a little bit of flipping. My long term goal is to get into multifamily and commercial deals.