All Forum Posts by: Kenyon Berry

I’m putting a land deal under contract for assignment and the seller plans to do a 1031 exchange. Am I still able to wholesale/assign this contract if the seller will be doing a 1031 exchange with the proceeds?

Hi all, is there a specific purchase contract for the state of Ohio? Here in Texas we use the TREC 1-4 purchase contract for wholesaling. Is there a mandated purchase agreement that title companies require in Ohio?

Any recommendations for investor friendly title companies in Ohio or Northern Kentucky? Looking for Title companies who are comfortable with handling flips and wholesales specifically in (Columbus, Dayton, Akron Cincinnati, Covington)

Hi everyone! I primarily wholesale in the Houston and Northern KY markets! My team is expanding and looking to get started in San Antonio and would like to know what are cash buyers looking for right now here?

What areas are hot? What property types are some of you needing to add value to your portfolio? Feel free to drop it here in the thread or private message me your market, property type and target cash price points!

@Joe Homs Awesome advice! Thank you for your help

Hi everyone, I’ve got an extremely motivated seller. The problem is the family wants more money than the property is worth without the necessary renovation to support the cost. Im working on convincing the seller to transfer title and I assume all maintenance and renovation for a 6 month period to flip the property and get the seller what he is wanting once the property is sold or we do a cash out refi (if held). I first have a few questions for anyone that has successfully completed creative seller financing deals

1. Once the property is in my name free and clear are there instances where banks will view the property as an income producing asset and lend the renovation cost just using the property as collateral rather than require down payment for the loan?

2. What are typical partnership structures if I don’t go the bank route for deals like this? If I bring the property, will other investors typically be ok with fronting the entire renovation cost (so long as the numbers make sense) and split profits 50/50 or does the partner who fronted renovation usually receive more than a 50 split?

Thanks

@Jeffrey Donis @Don Spafford thank you both, this was extremely helpful!

Hi everyone looking to get started with Multifamily investing in Houston. I was curious if anyone would be willing to share a template of what a formal LOI, NOI, and/or offer email looks like for multi family investing?

Hi guys, I'm getting close on a potential seller financing deal and have a few questions. The acquisition financing I've got covered. I'm now wondering what is the best loan product for a 2 year Live-in Flip? My goal is to live in the property and complete an extensive renovation with a rehab loan to avoid "out of pocket money" then at the end of the 2 years cash out refi the property to payout the balloon at the end of the term. My next question, once I have the property under a seller financing contract with the seller are more banks or HML more likely to fund if you have the property but not much capital?

Thanks

@Brenden Mitchum thank you for your insight! I appreciate you taking the time out, let’s certainly connect!