All Forum Posts by: Noah Wright

Unison's co-founders:

https://www.linkedin.com/in/james-riccitelli-64187466/
Current: https://Unlock.com/

https://www.crunchbase.com/person/michael-choupak
Current: https://www.stork.ai/

https://www.linkedin.com/in/rurikbradbury/
Current: https://www.limborevolution.com

If they're looking for $10,000 seed money and you have $10,000,000 sitting around - plus the due diligence checks out (legitimate opportunity) - that's relatively low risk for a good upshot.

If they're looking for $50,000 seed money and you have $75,000 liquid, absolutely not.

Personal financial position, coupled with due diligence, are important. Underwrite the opportunity like a bank, show me receipts, etc... I'd want to meet the person over zoom if not in person. Find character references for them after the meeting. I'm not investing based on an email. Good opportunities, early stage opportunities, may not have the best online presence, but be otherwise legitimate.

Also IRR is a vanity metric, it's the wrong measurement. Cash on cash return is what I'm looking for.

How do you eat an elephant? One bite at a time... 

The "fast lane" is to look at fixer-uppers, upgrading a distressed property is going to multiply your return on investment quickly. More risk and work involved. If you have the time and energy to do the renovations, and want to "sprint" to financial freedom, go that route.

The "slow lane" is to look for immediate cashflow properties, less risk and less work involved. If you are thin on time and looking for more passive income, go that route.

I think this is the first decision you need to make. Both options have pros and cons.

Quote from @Jaron Walling:

... So a fake lease agreement trying to show rental income? This reads like fraud...

Mortgage fraud is investigated by the FBI and punishable by up to 30 years in prison and/or a fine of $1,000,000 --- (link)

Bryan, there are perfectly legal solutions to your problem, call anytime.

David, you've brought up a great point, and it's something many seasoned investors run into when they start screening multifamily and commercial deals. Sellers and agents often inflate prices based on potential income, but like you said, you want to base your investment on what's actually being produced right now. It makes sense to be cautious of paying for projections rather than the current reality, especially when you're the one who'll need to take on the risk and effort to achieve that potential.

When it comes to negotiating, I think it's about finding a balance. The seller will naturally want the highest price possible, and their agent is likely to push that "potential" value hard. Your job is to bring the conversation back to the current, real-world numbers—actual income, actual expenses, and actual cash flow. Sometimes, early due diligence can help set the stage. If you approach it with a mindset of establishing facts upfront, you can sidestep a lot of the fluff. Asking for detailed financials—especially rolling 12 months' data—can really help you determine what’s realistic.

Think like a bank. Bank wants proof and records. We are not investing in tech startups here.

In negotiations, you might not always get down to the exact current income value, but by anchoring your offer on the facts, you can often pull the seller closer to a realistic middle ground. The goal is to make sure you’re not overpaying for "what could be" while staying grounded in "what is."

I've helped a lot of people consolidate debt and get into better financial positions. Happy to spend some time with you free of charge, feel free to call anytime, friend

Quote from @Drew Goodrow:

This is good information, I also have a goal of doing my first flip in 2025. I've sold my real estate and focusing on flips outside of California. There is a lot of information available but I believe there are a few gaps I need. LLC in the state of operating? Attorney? Permits?

All this information is great

Thanks for chiming in, Drew! It sounds like you're doing great research ahead of your first flip. Yes, it's crucial to get the right structure in place—setting up an LLC in the state where you're operating can offer liability protection. And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.

As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside. Best of luck on your 2025 goal—sounds like you’re on a great path!

What locations are on your radar?

Quote from @Matt Ridenour:

Hello BiggerPockets fam!

I'm at BPCon this week and I'm striking out on my biggest need of the week.  BTW what an awesome event!  First time attending but won't be the last.  

My wife and I are small time investors.  We have about 4 million in mortgaged assets, but about 2 million in mortgages.  We do our own construction work which is how we build our equity.  

I'm looking for a commercial portfolio loan that wraps these properties into one loan, with the excess equity available as a line of credit.  I don't want to cash out refi because I don't want to store the cash and pay for it.  All I'm looking for is a pool of money I can use as a line of credit against my equity so that I can move quickly for fix and flips.  

Anyone have suggestions?

Thanks so much in advance!

 There are roughly 28 wholesale lenders and 14 direct lenders who can help, I'd be happy to help you shop around for the lowest bid 

Quote from @Koren Lavi:

@Brandon Gale

This might be a really bad tip, but one thing thats really helped with my frustrations is using ChatGPT to write responses ...

 WOW this is super smart. Plus, as long as you're addressing legitimate concerns and providing good service where it counts, finding a way to keep the stress in check is essential for staying positive in the business! Thanks for sharing the tip, it might help others maintain their sanity too!

Quote from @James Jeffery:

Hi,  I am looking for a lender to refinance a land development deal . Looking for a loan of 1.5M to complete the project which will then be a mid term rental and AIRBNB with an estimated value based on cash flow of 3M.  Current debt is about 650K. New build will be 5,000 sq feet elevatored building of four units right on the beach and ideal for weddings, airbnb and corporate events.

Address?
Please send over the itemized budget to include costs spent to date and remaining dollar amounts
Plans?
Please list borrower's amount of experience within the last three years?
Funding timeline?

We can get this done on fantastic numbers