All Forum Posts by: Ryan Whitelaw

 Let me try rephrasing the question....

Pretend there's a condo you're interested in buying that suffers from water damage do to a broken pipe.  You estimate it will cost $75,000 to make the repairs and know the unit will be worth $1,100,000 once your done.  How much would you buy that condo for?

Hi All,

I'm looking for suggestions on how to structure a joint venture (JV) BRRRR deal with a contractor. I'm a long time investor and currently have a mix of commercial and residential rentals. I'd locate the deal and bring in the majority of the cash. That said, I'd like them to have a little skin in the game. How have you seen these deals structured where the contractor can get a piece of the equity for completing the rehab? Thanks in advance for any info.

~Ryan

I'm looking to help some friends out with their first time purchase and have some questions. This will be their primary residence and I'll be lending them $24k. Loan will be in second position and will be recorded after they close escrow.  Terms are $24k with 5.0% interest only due in 10 years.  My questions are:

1) Is there a good website or somewhere cheap/easy I can use to draft a note?

2) What's the process look like for recording the note?

Any info you can provide would be very helpful.  Thanks in advance for your time.

~Ryan

I've been appraising real estate for over 15 years.  I analyze residential and commercial real estate everyday and would like to think I'm pretty good at it.   What I am not good at is hands-on construction work.  I have a few acquaintances that are local contractors that I want to approach for a potential partnership on some value-add plays, but not quite sure how to structure the deal.  I would locate the deals, they would facilitate the rehab.  I'm sure this has been done a zillion times before.  Any advice on how to best structure these deals would be greatly appreciated.  

Your expense for utilities seems low at $150/year.  

Hi All,

Getting close to staring to put some bids out on trustee sales at the courthouse. What's the best way to find out if what I will be bidding on is the 1st or 2nd? Clearly, this is something that you don't want to mess up on. The problem is that it's not cost effective to get title reports on every single property you want to bid on. Any info is appreciated.

I signed up for the LA class a few weeks ago and just got an email saying they're light on numbers and need another 5 people to sign up.

Here's a link: http://www.kahrrealestate.com/exceltraining.shtml

The class is geared towards underwriters and appraisers, but I think it would appeal to commercial investors as well. Instead of buying a software package - the class shows you how to create your own cash flow models in Microsoft Excel with all the bells and whistles.

Thanks Peter. Do you have a link to that post?

Thanks for the reply. Any lenders you can think of off the top of your head?

Hi All. First post for me.

My business partner and I purchased a rental 9 months ago with all cash. Now we're looking to do a cash out refi to purchase another property, but our mortgage broker informed us that only one of us can be on the loan since we each own 2 properties. Cumulatively, we own 4 properties and adding one more would be over Fannie/Freddie limit.

This makes zero sense to me. Isn't the lenders risk reduced if there are two guarantors versus just one? Sure, we could just put one of our names on the loan, but this would not be equitable risk for both of us. Especially considering that the note on our next purchase will be much higher than this one.

Please let me know if you know of any conventional lenders that would be willing to put us both on the note (not interested in private money at this point). Thanks in advance for any info.