All Forum Posts by: Daria B.

 Hi Chris 

That was a quick reply thanks.

It's moreso an investor purchasing the acquisition via another investors funds (JV) and the gap comes into play with another investor to fund the rehab. Since there are now 2 investors, one for acquisition and the other to fill the gap for rehab, I wanted to know what structure is in place for the investor providing the gap funding.

What you described seems to be the answer needed for the gap funding portion. Making sure equity exists but recording what? The note as it’s going to sit 2nd position of the acquisition funds?

@Chris Seveney do you have any insight from my question above. Thank you.

Hi -

I'm looking for structure from those who have done this - provided (gap fund) funds for an investment (REO) where the initial funds were supplied by another investor. As the person supplying the "gap", so to speak, it seems to be typical that 2nd pos is where the gap funder sits. I don't think both can be 1st pos.

How have others (you) structured this in terms of security? Meaning, it's lending money (gap) and being in a 2nd pos so how can one determine if it's a good viable position to be in. What secures the 2nd? Not sure how else to word it or what else to ask.

I've done 1st before and was 1st and only on deed but as 2nds go, not sure what is being secured or secures the money being lent. Also, a twist is that the money will be from a SDIRA, for whom I have already put in an email to for finding out their requirements on 2nds, if any.

Thank you

I bought a product called vamoose (? It’s been a while) I bought from amazon and it worked for me. It’s a spray and I used it to wipe down the base boards, blinds, windows, receptacles and doors. I also had an ozone treatment 4 times from one company. I paid once but since the company also continued to smell the smoke, they did the other three for free. It still didn’t do anything and I resulted in further research that lead me to the vamoose.

I read that wrong I thought she meant split not return. 

@Vina Real

For the Mortgage Note, you are putting up all the money (ie purchase note, boarding fees, servicing, any other assoc fees won’t list them all) and only getting 15%?

Most JV partners do 50/50 split they do the due diligence and investor puts up the acquisition costs (ie purchase, boarding, servicing, etc)

If you are lending from your SDIRA I think they may require the IRA to have first lien position that secures your debt.

Hi Dirk

I don’t know if you’ve already chosen a broker but Exit Realty actually deals a lot with investors and I know that their agents and broker are also investors themselves. They also have a monthly meeting for the real estate investors group here in Gainesville so you may want to check them out to see if that might be a good fit. Robert Haynes is leading the group.

 Thanks Richelle they are my joy.

Referring to the state laws will give you a better idea on what is allowed and not allowed. If the law states no dual representation then the agent cannot represent seller and buyer in the same transaction.

Is the question multiple offers per same property or just representing multiple buyers for any property?

Agents will represent multiple buyers for different properties and I have not seen that they would be exclusive to one buyer. That would not be prudent as a business. If they were exclusive to one buyer with no other work then they would not be in business very long. 

As far as representing multiple buyers/sellers for a given property, you would need to look to your state laws. Here in Florida it is assumed “transactional” unless an agreement for exclusivity is agreed upon. Florida also does not allow dual representation.