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All Forum Posts by: Nicholas Field

Nicholas Field has started 17 posts and replied 95 times.

Post: Tenant Is Now A Felon, Evict?

Nicholas FieldPosted
  • Investor
  • Las Vegas & British Columbia
  • Posts 96
  • Votes 21

I'd say it's unethical to kick him out of his house due to this. 

Not paying rent is another story. 

Post: Total Estimated Debt when Auctioning

Nicholas FieldPosted
  • Investor
  • Las Vegas & British Columbia
  • Posts 96
  • Votes 21
Originally posted by @Chad U.:

@Paul Vang

Also make sure that it is the 1st in line debt foreclosing, otherwise if it is 2nd lien or further down the chain then the priority debt will remain after foreclosure. If it is the 1st lien/mortgage foreclosing, all others will be wiped, apart from HOA, IRS, taxes and a few others.

 How do you make sure of that? 

Post: Flipped 5 houses in 8 months - but lost money on 2

Nicholas FieldPosted
  • Investor
  • Las Vegas & British Columbia
  • Posts 96
  • Votes 21

How much were the properties you were purchasing? 

Post: Do You Create A Brand For Your Business?

Nicholas FieldPosted
  • Investor
  • Las Vegas & British Columbia
  • Posts 96
  • Votes 21

Please let me know if you feel this topic has a better home elsewhere. 

I'm a serial entrepreneur. I have several operating businesses, and I have done several real estate deals over the year, with not much specific rhyme or reason to it. 

I'm planning on dedicating to flipping some houses here in Las Vegas and I'm wondering if I should create some sort of entrepreneur brand in order to do so. I'm curious what other successful people have done as far as their investment brand goes. 

Do you make a website, titled after yourself? 

Do you put some sort of niche brand together like "The ZIP CODE XXXXX Flipper" or "150,000 to 250,000 in 30 days" or something gimmicky like that. 

Because I have several businesses on the go, some of which are kind of interesting, I have been considering using my name as the brand. I'm naturally more humble than that, but I'm looking for effective here. 

What has worked for you? 

Post: Suggestion for deal structure?

Nicholas FieldPosted
  • Investor
  • Las Vegas & British Columbia
  • Posts 96
  • Votes 21

Greetings everyone. Please be kind, I'm new. :) 

I am working on a project to develop a 5-plex with a partner. Please give me suggestions on how to structure this deal. 

-  I need to raise about $400,000. 

- My partner and I will have about $350,000 in equity in the project to reach 25% equity for the financing. 

- I plan on charging a 5% fee (of sale price), for development management. I realize it's high, but the project isn't too large. 

- The $3m project stands to make $575,000. Give or take. 

What kind of payment structure should I offer to investors of the $400k? I could say 30% Return on cash. Or should i give equity in company proportional to the amounts put in, which would give away a much more significant chunk of the profits. 

Any guidance is apprec