All Forum Posts by: Nathan Smith

Thanks for all the comments! I think what I will do is offer some sort of % bonus (e.g. 10% to 30% of profit) to the contractor...... as long as the deal is profitable. In return for that they have to walk all the properties with me to give me an idea of improvement costs and/or deal breakers With Some of the properties I'm looking at I have to purchase that day in cash or lose the deal to another investor. I don't have time to wait 3-7 days for a contractor to show up then wait for a bid. Thoughts on that approach?

@Katherine Robbins in your example does the contractor finance the $75k Reno? 

@Christian Wathne thank you.  

You mentioned partnering with your friend/contractor....... do you both now split the acquisition/ repair costs 50/50?  Therefore split the profits 50/50?

Thanks for all the tips!  So in my situation I trust the contractor.  At this point he has not proposed anything as this is my idea.  I haven't discussed anything with him yet.  Just wanting to come up with a proposal that gives him incentive to get the improvements done quickly and within a set time period and within budget.

Unless he has some $$ to invest into the deal I would fund the purchase and improvement costs 100%. I would mostly find the deals.

I would expect him to price the improvements, work hard to get the best subs and lowest pricing and ensure everything is completed on time.

So based on that 50/50 split............Or 70/30?

I have a contractor that would like to partner with me on a few flips. I would be the money guy and he would handle all the renovations (manage subs, etc) What would be a good split?

I have a contractor that would like to partner with me on a few flips. I would be the money guy and he would handle all the renovations (manage subs, etc) What would be a good split?

Hi all,

Any good recommendations on which banks are better for multifamily investments?  One's that are good with duplexes to fourplexes and up to 50 unit apartments.

Would prefer to work with smaller banks that like to do deals.

Has anyone used Real Acquisitions Software? It's supposed to give you access to probate filings, properties with divorces, absentee owners, foreclosures etc, etc.

I would love to hear from those that have used it to see if the data is accurate and if it's helping them to find deals easier.

Has anyone used Real Acquisitions Software?  It's supposed to give you access to probate filings, properties with divorces, absentee owners, foreclosures etc, etc.

I would love to hear from those that have used it to see if the data is accurate and if it's helping them to find deals easier.

Hi All, I'm interested in investing in small multifamily (open to 2 units up to 50) somewhere in Texas.  Austin, Tx seems to be a little on the high side these days.

Any recommendations for other cities / towns in Texas where you can still get decent returns?