All Forum Posts by: Reginald Charles

My seller is a 77 year old landlord looking to retire I promised him that I was going to get him the cash 

My HML is shiwing interest and Sent me this the other day...

Amount: $100,000 (net)

Term: 30 year term/amortization; 5 year fixed

Int. Rate: 7.29%

Points: 2.0
Collateral: Subject Property and Personal Guaranty

Submission/Processing/Underwriting: (1 pt.) $1,425.00

* All of the above are subject to underwriting...are these fair and what other options and/or questions should i be asking for

I have private money lenders...and my partner is a wholesale investor...he suggested that we wholesale the two house to purchase the the 5 duplexes...they are on the same parcel im sure that will have to be delt with by the county...or some city office, right? The deal is so good I have to grab it. Any thoughts?

My seller is a 77 year old landlord looking to retire I promised him that I was going to get him the cash that he was looking for. I have a new partner and this will be our first deal together and my first partnership. He's my senior level partner and he's flying in from Chicago. I would like to keep the 5 duplexes and wholesale the two houses to my partner coming in town. how do I go about doing this???

My seller is a 77 year old landlord looking to retire I promised him that I was going to get him the cash that he was looking for. I have a new partner and this will be our first deal together and my first partnership. He's my senior level partner and he's flying in from Chicago. I would like to keep the 5 duplexes and wholesale the two houses to my partner coming in town. how do I go about doing this???

@Jeff Greenberg  thanks for  taking the time  to respond  and I do have to apologize for such a late reply on my part. To be clear when I am speaking of "purpose-built" what I am implying is that the properties will be rehabed to create the maximum number of living areas Under One Roof. And in some cases even furnishing the home with day beds and bunk beds and small minimal apartment furnishings with less square footage in the common areas... to discourage any type of large parties and get-togethers. As far as my experience with managing student housing I myself have recently stayed on a college dormitory for a semester to immerse myself into the culture and to see exactly what the needs of the students their parents and the universities are, and how I can scale my business to meet that demand. I built a personal network with the dorm coordinators here in this particular university market at UAPB. I'm going to process now of seeking out Partnerships with passes investor and vetted senior investors that could bring they're seasoned experiences.

The end goal is to own 63 properties in 7 university markets with nearly 3,000+ beds. However, the addressable market still consists of more than 6.3 million students in 280 markets, based on my target market of Historically Black Colleges and Universities (HBCU's) and other public flagship institutions with more than 5,000 students.

I've honed my skills and created competitive advantages that should help grow are tenant stream for years to come. First, the student housing market is fragmented. So, as larger numbers of students enroll, theres a lot of opportunity to increase efficiency and save on expenses. In addition, our properties are going to be made "purpose-built," a finished product thats specifically designed to attract today's college students with amenities that appeal to that demographic.

This approach gives our student housing businesses an advantage over standard apartment communities and substandard on-campus housing...

Me I am positioned here at UAPB to take advantage of the strong opportunity thats in rental properties in the area. First of all, the markets that we're investing in hasn't fully recovered from the housing crash, and homes can be bought for significant discounts to their replacement cost. In fact, my estimates are that our average cost basis for each of its properties is about $40,000. It estimates the current average market value to be $89,000. So by simply acquiring the homes and doing some renovations, we'll have immediate equity in the properties.

Im looking to partner with some one that knows how to pool investors and spread the word about the opportunities here in Central Arkansas

The end goal is to own 63 properties in 7 university markets with nearly 3,000+ beds. However, the addressable market still consists of more than 6.3 million students in 280 markets, based on my target market of Historically Black Colleges and Universities (HBCU's) and other public flagship institutions with more than 5,000 students.

I've honed my skills and created competitive advantages that should help grow are tenant stream for years to come. First, the student housing market is fragmented. So, as larger numbers of students enroll, theres a lot of opportunity to increase efficiency and save on expenses. In addition, our properties are going to be made "purpose-built," a finished product thats specifically designed to attract today's college students with amenities that appeal to that demographic.

This approach gives our student housing businesses an advantage over standard apartment communities and substandard on-campus housing...

Me I am here at UAPB to take advantage of the strong opportunity thats in rental properties in the area. First of all, the markets that we're investing in hasn't fully recovered from the housing crash, and homes can be bought for significant discounts to their replacement cost. In fact, my estimates are that our average cost basis for each of its properties is about $40,000. It estimates the current average market value to be $89,000. So by simply acquiring the homes and doing some renovations, we'll have immediate equity in the properties.

Im looking to partner with some one that know how to pool investors and spread the word about the opportunities here in Central Arkansas