All Forum Posts by: Scott Gardner

would a partnership be a good solution to a buy and hold? I've heard it can lead to a lot of problems down the road and to try to keep JV's to short term deals.
I am ok with Partnering up, I just want to make sure it will have a mutually beneficial out for both partners. I have been advised to never go into a deal that can't be a win-win. I love that perspective. I would love to continue to get your feedback (or anyone else with advice) 

I was called last night about a possible buy and hold opportunity. He is a friend of the seller who is wanting to start liquidating all of his rentals. I don't have the info to see if it is a good deal yet, my question is this... If it turns out to be a good deal what kind of funding would be my best option? One more thing about the deal, there are already long term renters in place. They have been there for 4 years now and want to stay.

my biggest obstacle is that I am leveraged on my credit so much that my credit is not looking so good these days because of the debt to income.

What is my best course of action?

 Matt not only invests himself, but I have never met anyone who will help out a total stranger. He has taken time out of his schedule numerous times to help me. He is highly recommended by me as well

That makes sense... My last deal was under contract for $465k and my earnest was for $1000 and this one is more than $100k lower but the agent (yes she is working for me) just sent me the paperwork to sign at $2000 EMD and it kind of threw me off

How much should I pay for an Earnest Money Deposit? I have been told by many people that they don't pay anything or maybe up to $100. I have been told by a number of others that the absolute most they pay is $1000. The REA that is presenting the offer I am trying to put in is asking for $2000 in 4 days... I don't necessarily have a problem with paying that much other than I have never heard of anyone I know of in the business paying that much

I am going to be looking at a couple deals over the next couple days that I will be evaluating to see if they are worth getting into for a rehab. I am needing to find a contractor  in the Salt Lake area, who can help me by getting me good estimates of rehabbing costs. I am new to rehabbing and I am looking at building my team. Please if you are a (or know of a good) contractor who would be dependable and trustworthy, please let me know

http://slreia.com/

This is the biggest one...

Welcome to BP and I look forward to following your progress. I am new to investing as well and just put my first wholesale under contract in SLC, Ut. It is exciting and a little scary at the same time.

Thank you for this post, it is something that I will definitely keep in mind in my dealings. I would have probably gotten into a similar situation with the way I trust professionals to be professional.

I love your reply and I couldn't agree more. I have been mentioning it to everyone I associate with. I post it on my facebook and I am always looking to continue to build. I look for great advise like this more than anything. I have always followed the adage that if you want to be successful at something follow the ones who are doing it successfully