All Forum Posts by: Michael Ventura

Welcome Valerie and your in the spot!  I would support house hacking, especialy in the beginning stages of investing.  It limits your risk and allows for great experience in management and also acquisition. Good luck and let me know if I can help! Michael V

Hi Tiffany, I'm glad it worked out for you. Don't blame yourself or feel 'crappy' about the eviction.  Choices were made, there are consequences for those choices... Not your fault, she took advantage and now reaps what she has sown... 

Now you can start fresh with your own tenant, good job sticking to it!

I have an opportunity to purchase a profitable sports bar in Livonia MI. I'm looking for a partner or two who may be interested in a partnership.  I will be the day-to-day owner and there is a full staff with excellent management in place. It's a unique opportunity.  I'm in negotiation with the owner now.  He may be willing to partner as well.  His construction business is taking to much of his time and is looking to get out or get some help. Please email if you might be interested and we can discuss the details. 

[email protected]

Best of luck, Michael Ventura

Well done! A goal of mine as well... I have a 3 to 5 year plan and am working diligently toward it.  Thanks for sharing, it keeps me and the community motivated! 

Well done George! Looking forward to working with you on our upcoming projects, you deserve all the success because you work very hard for it! 

Well done @George P.!!  Very inspiring, keep it up and I hope to work together some time soon! 

Hi Josh, I'm interested if the property is still available. Please let me know, thanks, Michael V

Thank you Tod and John, I appreciate your insights.  I'll discuss tomorrow with the seller and broker. I feel we are close, but the 1% is geneally what I offer. At times up to 4%...  Much love, Michael V

Hi Jesse, thanks for your input, I'm confused as well... seems off to me and that alone makes me uncomfortable.  I'll ask the question you posed and hope that starts a conversation... if not, we move on! 

Thanks again, God Bless, Michael V

Hello BP family, I have a question about EMD funds and proof of funds for purchase. I'm working on buying a duplex, the owner is willing to land contract (owner finance) with 20% down 5% interest and 15 year amortization with a 5 year balloon. That actually works for me as long he agrees on my offer price, he's very motivated.

My question is this; the broker is asking for proof of funds for the entire purchase and a $4,000 EMD (earnest money deposit) for escrow. This sounds like over kill on a deal that is not using the banks and will be spread out over a 15 year time frame.

Is this an unusual ask? Am I just to new to the game to know what this is a regular occurrence? My thoughts and experiences in the past buying SFH are much different and did not require so much upfront funding. I do realize not using a bank creates other issues and costs. Any suggestions?

Thanks, Michael V