All Forum Posts by: HJ Bercy

 Thanks you again!

I have had discussions with someone who is looking to JV partner on these properties and looking for $200,000.

Below is some of the details of the deal.

The question I have is how do I protect myself and confirm the company is legit and that I won't get swindled/scammed?   I checked linked and Facebook. Looks solid, but that, too, can be fake.

Do I get an attorney to review it?  What steps/precautions to take when you don't know the individual personally?

"How our JV program works - we need $250,000 from our joint venture partner to provide down payment, closing costs, and some startup funding. After a year, we will refinance the property and return all $250,000 to our JV partner - our partner retains ownership long term with none of their capital in the deal going forward. We also guarantee a 10% return on the 250k investment - this is paid back monthly from net cash flows received on the properties.
After refinance and after all funds paid back, our partner can expect $2-3,000 a month in ongoing cash flows. We split the monthly cash flows, tax benefits, appreciation, etc, 50/50 after our partner is paid back. Until paid back, our JV partner gets 100% of the monthly cash flows. Pretty basic JV program."

Charles- I am interested to know more on the JV partner if you are still looking.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

12 Unit Property - The property is located in a good area C neighborhood. Well-maintained. No major repairs are required or expected soon.

4 of the units are section 8 tenants. The rest are conventional tenants.

100% occupied.

Could increase rents on 6 of the units by $100-150 ( $7,200 - $10,800 annually) Not included in the report.

Will need $60,000 investment for all 6 units to increase rents.

Received loan information from lender expectations.

What do you feel about this deal?

Hey everyone! Sorry for delayed response.  She didnt buy the property. There was an issue with foundation and something else.  

However, we did focus on city of Detroit (buy n hold) for about 3 years and now doing our first flip in Dallas Texas.  Got an offer and accepted last week!!

Hello BP Members,

I am looking to get started in rehab/flipping.  Areas of interest is Jacksonville, Orlando, Tampa.

Quick background:

Starting investing about 3 years ago in Detroit (buy n hold). Recently sold 9 properties after a good 3 year run and was able to technically flip them for profits. Now ready to embark in rehab/flipping.

Hopefully can find some good folks here that are brokers, wholesalers, realtors, good contractor.

Any input about the markets in Jacksonville, Orlando, Tampa would be great!  Im really trying to get a pulse in these areas.

Hey Everyone!!

As some may know here, I have invested in Detroit in past 2 years (buy n hold) all cash deals . 

Now we looking to go into commercial properties or buy a package of homes leveraging a loan.

I like to get details on the loans avail from members here.

I can give you example what we currently looking into and our situation.

Credit score 680-720

Cash in Hand: 60k+

Own 2 LLC with multiple producing properties in each.

We are looking at this 20 unit building in Detroit. Asking Price $189k.

Rough Estimate 200k Rehab is needed.

================================

Question I have to start: 

Do you provide similar loans like 203k loans that includes renovation? Terms? Interest rate? Downpayment?

If approved, how long do I have to use it if I am still searching for right property to purchase?

HJ Bercy