All Forum Posts by: Mona B.

@Cody Neumann In reading through the various replies I've received from active investors, who I'm able to partner with and how good of a deal the lead ends up being seems to be key factors in having a remote chance at "no money down". Thanks for the reply!!

As a rookie investor, I'm finally at the point where I'm confidently analyzing multifamily leads where I live in FL. In listening to the stories of how investors like @Brandon Turner or Sterling White started, I'm interested to learn from the experience of other investors - is it true that partners do fund the whole down payment for a deal &/or help to qualify for the loan, or is there an expectancy for the general partner/principal to contribute at least 5% - 10% of the down payment in multifamily investing? I'm connecting with people for potential partnerships who are not family members or friends.

Also, what is a typical split on a multifamily deal with partners after the debt is serviced: 70%-30%, 80%-20%, 90% -10%?? Is it possible for such a partner to contribute to the full down payment for the multifamily deal & still agree to a split?

I would love to get your feedback - thanks for sharing in advance!

@Curt Davis Thank you for the response. 

It seems as though assignments could hinder a transaction, especially for a beginner investor like me. This is where additional questions arise:

• Being that I’m not a licensed real estate agent, what to you tell potential sellers and buyers what you do or what your roll is, particularly if they want to know… “well, how are you getting paid and you’re not an real estate agent?”
• If I use the assignment process, when I put a contract on a house, do I put down earnest money from a hard moneylender with the seller? Then, how do I get that back in addition to my fee?
• Lastly, have you completed double closings where the funds from the closing between the “wholesaler and end-buyer” (B and C) are used to fund the closing between the “bank or seller’s agent and wholesaler” (A and B)?

@K. Marie Poe

As a beginner real estate investor, I'm seeking information on how contract assignments are conducted. As I do not have a real estate license, and if a buyer wants a MLS listed property, how is the assignment process when working with real estate agents?

Additionally, how do you get an assignment fee (or consideration for selling the contract) paid up front? Is the language placed in the assignment contract or the purchase agreement? How do you retrieve the earnest money in an assignment transaction?