All Forum Posts by: Account Closed

Say you find a distressed home with a owner willing to sell to you. The mortgage on the house is $100k, the owner owes $80k, and they take your offer of $50k. What happens to the $30k left on the mortgage?? This is all hypothetical, by the way. Thanks for your time!!!

@Rob Gillespie

Thanks, Rob. I don't, quite, understand what you mean by slushing funds, it sounds bad, could you elaborate?

Do you think an Operating agreement would suffice without having a PPM? Or do I need both? Thanks again!

@Lee Judd

Thanks for the example, Lee!

@Darius Ogloza

Thanks Darius for the info. I certainly expect failure and hurdles. I will see it through. 😁

@Rick Pozos

Thanks for the insight, Rick. These will be long term holds. Buy, rehab and rent out. Then refi, so I can do it again. I have $75k of my own capital right now, so I'm not quite there yet as far as covering acquisition/rehab. Im basing this on some of the EMVs, on pre foreclosures, I've seen in San Antonio. I still need to find a Realtor, GC, PM, and lender(local bank or credit union that does portfolio loans/LTV), so I have a long road ahead.😁

@Joe Black

I just started looking. I'm building a list of homes that have potential then start making some phone calls.

@Jonatan Barbera

It's for the long term. And, they'll be using cash from an SDIRA.

@Taylor L.

Thanks, Taylor. These are real good questions I'll keep in the toolbox when I cross this bridge. I'm going to start with family and friends first, as investors. My plan is to BRRRR Properties, and I'm very close to having enough capital to start. I'm going down the investor route because I'm not a fan of hard money loans. Seem too risky for me, especially since I'm new to this. I'm about a year away from having enough capital to start in San Antonio, Tx. I might look a little further north to find a cheaper market... Sorry, I'm rambling. Thanks again for the info.

Hi BP community, I'm starting to acquire investors to buy rentals with me. My question to you is, what are some methods to figuring out how much of the profits go to the investors? I understand how dividends work in a stock, but I'm having a hard time getting an answer, from the internet and books I've read, about pay outs to investors in RE. Maybe you all have some ideas. Thanks!

@Joseph Cacciapaglia

Thanks Joseph!