All Forum Posts by: Maurice Nix

This helps a lot and I really do appreciate it. Thanks I will be checking out your website as well and taking a few calls so that I continue in the right direction.

That's true, but also remember that's the largest military instillation in the world from a US standpoint. Income should be pretty consistent in that area. BAH is around 1700 a month for most families so that's solid income for multiunit properties.

I've also read in the best ever syndication book by Joe Fairless that you have to have some remaining capital in your account after closing in case of repairs or any other issues that may arise. I have a few investors that are interested in doing a deal next year and have already committed 50K each for the downpayment. I'm in need of information on how to structure their returns. What are the norms for passive investors? Would you structure a partnership? Or profit based? Joe's book states 8% returns to investors and a 70/30 split at sale. 

Also what are some of the benefits of going the portfolio route? With collateral of a million in assets what will that get me? I'm not sure of where I will be purchasing the multifamily property at, and i'm trying to keep an open mind. I would rather stay east coast from VA to Florida because I'm from Florida. Thanks for all the help you as well!

Thanks for the information. I see there's many  hidden fees I was unaware of. I have some homework to do! 

I'm looking to purchase a multi family property 16-30 units. I have good credit, one paid for quad plex and three single family homes. I'm currently saving from Jan 19 to March 20 in preparations for the down payment. I don't know much about the loan process since all of my loans are single family homes. I'm looking for advise on the loan process and the fees that comes along with it. Also investors are a need. I read that the bank wants you to have a very nice stash to grant you a loan? Thanks for all of your support also! Maurice

I'm thinking somewhere around 200k annual. This will give me room to make future investments as well live a simple lifestyle.  

Sounds good will do!

I looking for a good contractor referral for Hampton Roads area in Virginia to do my first flip. I'm also looking for a mentor to assist me in this process. In search of good contractors for renovations on porches, patios, kitchen, bathroom, drywall, flooring, painting etc. I'm looking for referral from flippers or those that have experience with these types of projects. Thanks and I appreciate your support. 

R/Maurice

thanks I will do that!

Ok, thanks I've already asked him he didn't respond with an answer just informed me about hard money lenders option. The bid closes in a week so I have to expidite finding a lender or I may lose the deal. ARV with a direct comp is 170K on an 70k investment. The comp is a month old in the same neighborhood down the street.