All Forum Posts by: Austin Davis

Hello Pro's,

I have a friend that is looking to start doing flips soon and asked me to be a money partner.  I would put money towards the down payment and repair costs and he would manage the flip ($20-25K).  He is a Realtor who knows the market well and has a background in construction.  He is offering a 10% return or 20% of the profits for this investment.

Would you say that these are adequate returns for the risk that I would be putting down?  If he put some skin in the game, would that make it better, or would this still be a low return considering the risk?

Let me know what you think.

Thanks!

Hello BP,

My partner and I are seeking apartment buildings/complexes that fit the following criteria.  Please reach out to me if you know of a property that might work and lets make a deal.  Thanks for your help!

Our Requirements:

-Apartment complexes in $1-3 Million dollar range in the Cedar Rapids/Marion Area or Des Moines area  with value add potential (lower rents, convert space into more units, etc)

-Owner willing to do short term seller financing (We'd love to have seller financing, but certain deals may not require it)

-Ideally, C class apartments in B class neighborhood

-Variety of 1,2,3 bed options

Heck yeah!  Congratulations.

Hey Joe.  Shoot me a PM and I will hook you up with the team I use if you are interested.  There is a local group on Meetup.com that meets monthly that you might be interested in.  They are mostly focused on wholesaling and flipping if you are interested in that.  I am looking to start a local group for Cedar Rapids and will let you know details when that happens.

Hello BP,

I am helping an investor try to find funding for his deal.  He is converting a hotel to an assisted living facility in Georgia.  He lives in Cedar Rapids, IA and we would love to meet with you in person to discuss the deal if you are local, or potentially even if you are not local.

What he needs:  A private/hard money lender to provide $800K for the purchase.  This lender would carry first lean position on the recently appraised 3 million dollar property.  Terms are negotiable.  He just had a lender fall through on him was granted an extension on the closing until next Friday ( March 9, 2018).

Please PM me if you would like more information.

Hello BP,

Just following up to see if anyone has any good contractor recommendations in the Quad City area (Moline, East Moline, Rock Island and Bettendorf) .  Please PM me if you  have any contacts.  Thanks, everyone!

PM me and I can give you some guys that have done good work for me.

Hello Quad City investors!

I have a client who has a house under contract in the Quad City area and is looking for good contractors to work with on some flips in that area.  Anyone have any referrals I can send him?

Thanks so much!

Welcome, @Jaci Ampulski!

Sounds like a cool business model.  I am excited to hear more!  The BP books, podcasts and forums are great and definitely help get you to where you want to be.

I should also mention that the investor is willing to set up a tour of the property that will be renovated and a trip to the land that he is offering for collateral. He has a great track record over 20 years investing. He is very transparent, willing to meet or talk about the deal and will provide any information to make you feel more comfortable. This may sound like its too good to be true, but is a very thoroughly vetted and projects a huge return for him, which is why he is offering a big return for the investing partner. PM me if you are interested. Thanks!