All Forum Posts by: Matt Berklacy

Seek joint ventures, time-leverage, deal splits, weather you're licensed, have money, experienced.. lets talk plan to split time on finding, fixing, funding, and/or flipping a deal...

As investor, I am an active marketer for sellers to acquire their property to wholesale, reno-flip or retail MLS them (being Florida agent).

Seeking:

- Private Money Lender Partner.

- Marketing , Acquisitions Partner  

- Contractor partner (fix-flip split)  

- Realtor partner (investor minded (leads follow ups to acquire or list)

I am available:

- to help buyers local and out-of-state for offers (Florida)

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- Love buy and holds long-term passive income (currently holding, renting out NC, & Fl)

- secondary fix flips and listings for short term transaction profit.

(active: Jacksonville Fl surrounding, Duval /St johns St Augustine / Clay (Orange), Flagler, Nassau County, Yulee, Beaufort bludton SC, Chatham County, Savannah Ga.

mbbjax@gmail,  - 904-878-2699 call or text

I am an active marketer for sellers to acquire property to wholesale, flip or retail MLS (I am a jacksonville Florida Suburbs agent)

Im looking to leverage my time and mentor, and share/split profits in exit..

Reach out

Rather than buy property, can I create an agreement to foot the rehab, and sell it (im licensed) and split profits equal with seller?

anyone done that and how structured with attorney? 

seller owes 60k. 

ARV 175k.

Rehab 25k 

I hv no real life experience with this exact transaction as buyer,, so appreciate your insight for action..

- I'm sitting at kitchen table with seller.

- I have a 2 page investor friendly contract, and prepared to use expensive hard money cash as-is.

- seller is suddenly willing, and wants to finance deal, X$ a month for 6 months or more, balloon at end of 1 year max or less to pay off.,

- Buyer is Virginia LLC , there is full disclosure of everything

- Florida property, Jacksonville Fl..

- seller balance owed 63k, titled in seller name, being rented out to family who are leaving in a month, (tmi; repairs light 22k, arv 195k, rents $1350, purchase price 120k

- possible hold to rent or Exit as flip.., ..to pay off balance,

 my Question is on paperwork and pivoting..:

- Can I contract this on the spot at kitchen table with same purchase/sale contract financing showing cash, get it done,  and then get an addendum with financing terms signed and give to closing attorney?

- Can I avoid setting up land contract right now and get this done straight forward as is.

- does she, being rental owner have to vet llc buyer? if so how?

(THX!!   really appreciate your experience and suggestion..im super interested in S.F in general but want to apply it here and also not lose it .. , and  want to get this done as hassle free and straight forward as possible)  

Does Winning Bidder on Hubzu Auctions get 10 day inspection look?

(anyone participated and won, I could chat with?)

Hubzu sample Contract is blank, doesnt clarify, representatives do not know, listing agents not from same state nor call)

Guangzhou??? Canton?

i think to establish enough golden gooses for passive income so you can live part time in like Chiang Mai or a gig in China and be fully present, is the goal...

maybe "trim" back some single doors if you feel market is too high,,..hold most....give to manager.. mentally detach......dont do anything rash

with lease option.. you still have a tenant, and you're a landlord, with seller finance you're the bank......

....in lease option, I hear tenant takes better care, higher down payment, higher payments, maybe even does some rehab work, and often doesn't even exercise option,, this is attractive..the con is I've heard, if they stop paying, its not a simple tenant eviction, and could be long and expensive a year or more...maybe there are ways to avoid this by not crediting rent payments to purchase..its still not clear yet to me...I'am attracted to try this on a property i own in raleigh....or maybe just try a first seller finance....any local I talk to, agents and attorneys, they say dont do lease option and scares the crap out of me.....Im not convinced though yet....but seems like seller finance is an easier exit strategy for cash flow control..

George Bailey's wife buys a haunted-looking fixer-upper house that’s been sitting vacant for "20 years"in upstate NY... It needs about $125k of full rehab work in todays dollars... I think she gets the place for pennies on the dollar...

She house-hacks it with her family, and slowly fixes it up herself ..by the end of the movie it looks really good and it has an Arv retail value of $320k in todays local market.....

https://www.trulia.com/p/ny/seneca-falls/320-sycam...

Her husbands saving and loan is lending on new construction retail, and she is buying wholesale fixer uppers..

Also she is really effective on calling on her network and raising private capital, and they become the richest family in town!..

I learn and see alot from this movie each time I see it...

and if I watch it alone, I still tear up a little...

I recommend all millennials watch this movie and study it for action steps..

🏡 🔔

https://www.trulia.com/p/ny/seneca-falls/320-sycam...

https://www.imdb.com/title/tt0038650/

nice, I ask questions like these all the time too..most people are cool, unless they dont know the answer, then they get testy......lol...

I think of this as a numbers question...know your local area in numbers....retail Arv price; #, avg price per sqr footage #, cost of repairs #, days on market, zipcode desirables, radius of 10 miles? versus  40 miles versus next state over, etc, etc...you can offer, analyze deal, buy and sell better knowing your numbers of niche areas, zipcodes (,ie, market)