All Forum Posts by: Xavier Randall

@Jeremy Pace , @Brian Adams , @Jeff Greenberg , @Account Closed , Thank you gents for chiming in. That's what I love about this site. Now...to dig a little deeper...the property i'm looking at is owened by a Foreign LLC being represented by a domestic representative with POA.

1. There's a lease agreement with another LLC who occupies 10 of the 22 units to house their special needs clients. How do I microscope this situation?

2. I'm not to inclined to take the lease agreements & rent roll at face value, what other financials should I insist on receiving to validate the rents are being paid?

QUESTION....when considering to purchase an apartment building and reviewing the current lease agreements....is the seller to provide with the deposits they collected or is that a cost you taken on by you?

@Brian Adams , $500 an hour to work with someone experienced....I'll make a note of that in case i have to reach out!! :-) Thank you for entertaining my questions!

@Brian Adams , You mentioned the current deal was at $9.4M and the raised capital was $3.3M. What type of financing are you using (e.g: Seller carry, Recourse and Non-Recourse, Conv., FHA 223) and how long was the UW process?

@Brian Adams , i should've been clearer. Up to $2.5M transactions he charges $12,500 for the work you mentioned. From $2.5M - $15M transactions he charges $15K. It's due when you initiate your LOI.

1. Do you have the investors pay the $20K?

2. Do you charge an ongoing management fee?

@Brian Adams ,Thanks for posting this. I'm in the process of building my team.

1. If i were to take an acquisition fee is it on the overall transaction or capital raised?

2. Do you have any of your own funds in your deals along with the investors?

3. The securities atty i've spoken with charges a minimum of $12,500 for structuring. Is that expensive?

@Brian Cowan

@William Gustin

I'm from Macon, GA but currently live in Lakewood, CA. The major university in Macon, Mercer University & the historic foundation, for the past few years has formed a coalition to revitalize the immediate area. Restoration funds for facade & energy are being provided, tax credits & energy rebates are being provided as well. I just closed on a rehab & hold 4 plex. Have an offer in on another one.

On another note...when I went to scout the area & close...I was presented an current off-market opportunity that maybe out of range because I'm allocating my funds for my reno. If you'd like more info on it. Send me a message.

Here's a link to the rebuilding of the area:

http://collegehillmacon.com/index.php/about/the-corridor

@Manolo D.

 @Jassem A.

Okay...so...let's say I found a sub who can do the work and he says he works under a contractors license. What do i need to do to make sure he's liable for his work? Get the primary contractors license & insurance and signature on the SOW agreement?

hello-

I'm considering my first 4 unit fixer. When considering who should do what on the project. Should I have a general contractor do everything from A-Z or have them only do interior/exterior work and have specialists do the other items such as plumbing & hvac?

@Frantzces Lys

Hi Fran-

I'm looking for owner financed, turnkey with current leases. Please email me.