All Forum Posts by: Kevin Fontleroy

Hey Todd, is this property still available?

Thanks Antoine for the feedback. That makes sense and can keep the numbers clean!

hey guys,

I was asked by a friend if he could invest with me on a fix and flip.  I typically use hard money to fund my projects but I thought it would be great to bring him in as a cash partner.

My question is how do you set up the partnership splits since he isn’t bringing all the cash, he is just bring enough to really cover the hard money fees and holding cost.  Has anybody ever structured a deal like this?  My partner says he has 15k to invest.

Here are some rough numbers

Purchase price 56k

Rehab 17k

Hard money and holding cost for 6months 10k

Arv 125k

Ever heard the term "Buy the ugliest house on the nicest block"?  Well this is that house!!!

This is a complete fixer upper that will need between 45k-55k worth of work. Small ranch homes in the area go for 115k-119k. ARV 130k - 135k.

Large lot would be excellent to expand on and really get a huge return on this home.

For more pics CLICK HERE

Please email if you have any questions [email protected]

Thanks

Kevin

Attention investors: Great 4bed/2bath split level home. Great tenants, been in property for 3 years and would like to stay. Property is professionally managed and property management can transfer with sale of home or you can put your own in place.


Please contact me for more info call or text 626-502-6673. Ask for Kevin

Can be packaged with 7803 E. 111th KCMO

Click here for additional pics

Quinten, thanks for putting this together. For the people that missed it was awesome and you should definitely make the next one! BTW, I'm Kevin and I'm looking for my next fix and flip (insider)

Mike Ellis, that's what I'm going to do...I'm gonna yell "Bigger" then the crowd should yell "Pockets" lol

I'll be there.

There are no friends in business! You signed a lease with her at a rate you were comfortable with, friend rate must have been mutually beneficial.

I would confront her about it if it is spelled out in the lease that she can't do Airbnb (Airbnb is not the same as subleasing...do hotels sublease you a room?). Discuss possible solutions, either she stops, get more insurance, give u profits or whatever you guys work out but it should be a solution out there that works for you.

Don't waste time gathering more facts if you clearly see your place on Airbnb. Talk to her and clear the air versus stewing about it while she going to the bank

Thanks Cody, I'm going to reach out to them first thing tomorrow!