All Forum Posts by: Kedrick Thornton

@Travis Jenks thanks! I could use this info too!

@Darius Holloway how did this deal work out for you?

I am setting up a deal in which I will get investment in the form of a loan from a private investor. The investor will not have any interest in the property, but will have a promised return of a specified percentage of the principle. Does anyone have a sample loan agreement I could use for this?

 Could you post a link to the agreements you found in the files section on BP? @ceasar blackman

You are going to acquire a property for $20K and you need to find $40K to rehab. 

Could you use a hard money loan for the rehab? If not, could you get a construction/rehab loan from a bank?

Another question to consider is how much permanent loan (mortgage) can you get based on the ARV? Will you get a decent return on your $60K investment?

I am planning to use the Vacants To Value program to find investment opportunities in Baltimore. If any of you know of good GCs that can do rehab work in Baltimore please refer them.

Has anyone looked at the list for Vacants To Value lately? www.vacantstovalue.org

There are plenty of single family properties on the list. Also if anyone knows of good GCs that could do rehabs in Baltimore please refer them.

@Folashadé Shelton

I am looking to implement this same type of "house hacking" strategy, although I am planning to do it in D.C. I am very interested in investing in Baltimore also for the same reasons you stated. The properties are inexpensive and the city is developing.

The V2V program is great, but finding a multi-family in the database may be difficult (should not be read as impossible). Most of the properties I've seen in there are single-family rowhouses and they need extensive rehab. See if you can find multi-family buildings some other way and contact the owner to make an offer. Look through Craigslist, driving for dollars, etc.

This is awesome @Account Closed! I'm hoping to get my first BRRRR deal done in the next few months. I'm looking for properties in Polk County, not too far from you guys in Orlando.

How did you find the property in Charlotte?

@Steve Vaughan @Russell Brazil So sorry for not being as clear as I should have here. 

I have a verbal commitment from someone who has told me they will invest $40K as a partner in a deal where I will do all of the work to buy, rehab, and rent an investment property. I have not found a property to acquire and improve with the $40K yet, but want to make the commitment of that potential investor binding so that when I find the property I can do a "cash call".