All Forum Posts by: Darrell Shepherd

There isnt much of a guideline to go by on this. A lot depends on how much work you are going to put into the thing. I pay my lender 2 pts and 12% because its cheaper than splitting the deal. On your first one, I'd be more worried about protecting capital and learning than worrying about squeaking out another few hundred bucks. Make sure your note and security deed are in place and you have a written partnership/operating agreement and watch how you hold title. I'd structure and interest rate on the money, even if its low, then split the profit. You also have to watch the expenses, pretty easy for them to buy tools and supplies for other jobs on your dime if you aren't paying attention.

My dad is up there and does GC work. We ran three crews here in the ATL back before the crash and he took one up there when he moved. We've been investing 14 years and used to do pretty high volume. His name is Sherrill Shepherd 404-304-8844. Might be a good guy to talk to...

I'm in Atlanta and the numbers work pretty well here. So much so we've got hedge funds in town buying everything in site and making it hard to find rehabs...I dont hold rentals anymore, but am doing stuff in Florida and St. Louis on flips just to get away from the hedge funds. There are still some opportunities here, but its way tighter than it was even 6 months ago...
Plenty of turnkey rental stuff with decent ROI around, though, that seems to be the game everyone is playing right now.

Depends on your area and how you do the deal, but yes, you just go to the title company or closing attorney once its lined out. Lots of ways to structure your take on things depending on your strategy and resources, though.

Sounds like you need to be talking to some people that have been there and done that some. Seems like there are plenty of good folks here, but you might want to check your local REIA and start getting the basics of real estate transactions down.