All Forum Posts by: Matt Fish

The way I look at it though is that it would be a good problem to have because that means you are getting out there and making seller appointments. Always good to create new problems that need solutions.

@Ryan Farr That is an interesting question. I have never been asked for a proof of funds letter. You could just explain that you use private funds to invest in your deals rather than having the funds sitting in an account, so you can't provide a proof of funds letter. If they aren't comfortable with that and you know it is a good deal, you could always offer to increase your deposit. I am interested to hear if any others have ever been asked that.

@Josh Masih Welcome to BP! You are certainly in the right spot to learn all about real estate investing. There are endless strategies and ways to make money at it. You are in a pretty strong market too. Read lots, learn lots, take action!

@Michael Sears Perhaps you could approach it like you would a deal itself - how much are you willing to take/give up, what would your ideal # be and what would your strike # be? If you didn't partner with him, could you partner with someone else? What would hard money cost you if you did the deal on your own? What are his experience and connections worth to you?

Know what you would be happy with going into the conversation, what your ideal number would be, what you would accept and what would cause you to walk away. It is important to know this going in because you are the most objective now as opposed to when you are in the middle of the negotiation. 

50/50 would be good for you considering what he is bringing, so maybe set that as your ideal number and open with it. Justify it with the fact you found the deal, negotiated it and will manage the project. If he accepts, great. If not, know ahead of time where you will walk away. 

Goof luck and let us know how the convo goes!

Congrats Zach. Exciting news!

Out of curiosity, how did you end up buying 2 properties in Atlanta?

@Mike White Welcome Mike. Wow it sounds like you are off to a great start already! Keep up that momentum. 

@Matthew White Hi Matt! A fellow DE investor here. Welcome to BP. You got some great tips above about Delreia. Check them out at Delreia.com. There are a lot of very knowledgeable investors there and it will certainly help speed up your learning curve. Hope to see you there.  

@Jordan B. This sounds like a very similar story to my own and I moved from the stock market to real estate 3 years ago and couldn't be happier. So clearly I agree with the direction your thoughts are headed. I hope that you find some encouragement and knowledge here on BP and decide to jump in!

It has shown me a way out of the "get a good education, get a good job, work hard and try and move up" mindset. I now work toward my own goals rather than being used to work toward someone else's.

@William Hochstedler I agree with the 2nd position rehab loan. I would have to give a bank or lender first position and have the seller be in second position and perhaps provide them with additional collateral.