All Forum Posts by: Ryan Walker

Currently in the middle of a flip in Austin, Texas and need to replace a leaky cast iron pipe under the slab.  Its about 30ft worth of pipe under the slab and the current quotes I am getting seem ridiculously high so I am looking to Bigger Pockets to help me out a little with a good recommendation.  Thanks

Thanks for the reply.  How quickly can we close on something like that?  And would we have too personally sign for the note, or would the property be the sole collateral? 

Property Value: 375k

Rehab: 125k

ARV: 625k

My partner and I currently own an investment property outright in our LLC and I am looking for ways to finance the rehab. I have the cash to be able to cover the rehab but would like to finance it so that we can jump on another opportunity should one arise. That being said, I really dont like the idea of paying 3-4% origination on a 20% LTV. Are there any other (cheaper) options for me that wouldn't require me to leverage any of my personal assets?

Arv: 650,000

Rehab: 100,000

Large 4/3 (easily upgraded to 5 bed) in Hot 78741 area code with Huge Private 1/3 acre Lot.  Very unique opportunity for someone looking for a large property this close to Downtown.  

Home needs extensive repair and is likely a complete gut.   There are issues with the foundation, but will (mostly) be covered by previous foundation repair warranty.    Please contact me with any questions.

I am looking for a General Contractor in Austin, TX.  This is my third flip and I am not completely happy with my two previous contractors so I am looking for any recommendations from the BP community.  This will be a relatively extensive remodel project on a 2500 sqft home.  Any help is greatly appreciated.

Thanks, and I agree that ultimately it is my responsibility and I need a new foundation guy.   And Yes, and engineers opinion is required by the City of Austin for all new builds.  I will start contact engineers to see what they can do.

I am in the middle of a flip in Austin, TX where I am adding a garage apartment addition to the existing property.  I have filed all the proper permits and up to now have passed all inspections.  But today my concrete guys started pouring before the engineer got to inspect the site. Problem is, I need an Engineers report of the foundation before I can pass the next city inspection and continue with the project.  Does anyone know of anyway I can get a report post pour?? Am I going to have to  make my concrete guys dig up this entire slab and start over??  

Any suggestions or help would be great.  Thanks

Thanks for the reply, and sorry for not clarifying but for what we are doing an apartment complex or any other Multifamily unit would not work.  They much each be Single Family detached homes.

I want to preface this discussion by saying that I will absolutely be contacting a lawyer before preceding, and would like this discussion to help me limit the number of hours I will eventually be charged by such lawyer.

I am considering creating an entity to purchase a hand full (7-10) SFRs to buy and rent.  I have spent a few years working at a Fund so I have access to capital through many accredited investors whom I have maintained relationships with.   I am considering going down 2 different paths and would like any advice on which one may work better for me,  why one will not work, or something I haven't yet considered.

A few things about my deals:

1.) Absolute main concern is to limit the liability of other investors.  Nothing more than capital contributed is acceptable.

2.) These purchases require leverage, mortgages will be needed.  20-25% down.

3.) I will contribute 10% of capital ($50k), investors 90% (450k).  All Capital Contributed will get preferred return (15%) until repaid then profits will split 50/50.  

4.) Homes will be in Colorado in the $200-300k range.  

5.) Investors will reside in Multiple States (CO, TX, MN, TN)

This leads me to the options I am considering:

1.) Create a Limited Partnership Syndicate.  

I prefer this structure where I act as the GP and the LP's are all passive. However, I understand that this structure will have a relatively high cost to create and to file Regulation D (505 or 506??). I am not sure that the cost will be worth it for a deal this small. Also, I almost prefer each SFR to be in its own entity so that one property doesn't bring the whole portfolio down.

2.) Create a Unique LLC for each individual Property (Series LLC??).

I like that this structure could separate each property, but I am worried that this structure wont allow for the complete protection of my investors as I understand that most likely each members name will have to be on the note.  I am also worried that in order for this method to also not have to file the Reg D that the investors must have some type of authority/decision making within the entity.

The numbers work for my investors, I am just trying to figure out the best way to go about this.  Any input is greatly appreciated.

@Arianne L. Build out for duplex option was $97/ft with SFR being $115/ft using mid quality standard finishes on both. Duplexes would be 3bed/2bath, SFR 3bed/2.5bath plus Study