All Forum Posts by: Sisto Averno

So I have a few potential partners, they are bringing the money to the table. Our goals pretty much align, they are buy and hold. We want to use the BRRRR method. I have a few questions:

1. How to structure the partnership(s) regarding the property ownership and rental income streams?

2. Using the BRRRR method, which partner refis the property after it is improved?

3. How many mortgages can a single person have?

Thoughts?

SF house 3 bed 1 bath 

Owner asking 155k he’s motivated as it was his parents house 

I believe 125k is attainable 

Comps in very desirable Glyndon area (21071 zip) are 250k-300k

Lot is .4 acre

I have pics and a walk thru video I did...

On it...I will have numbers shortly.

So I am relatively new at investing, I currently live in a fixer upper. I'm very handing and motivated. I have found another deal that I believe is a home run and my resources are very limited. I am looking for a seasoned partner for this deal. If you are interested please feel free to reach out to me. Time is crucial as the FSBO is very motivated.

Thanks!

Sisto

Thank You @Jacque Fairbourn

Has anyone heard of a company called DHM (Do Hard Money), if so share with me the good and the bad? Thanks in advance!!!

https://www.dohardmoney.com/

So, short of the long...here is my text conversation with my contractor whom I've never used before:

Contractor: Morning this is ***** please call me when you get this I need to talk to you about this balance I gave you a huge discount on my price and I need to pay my sub contractors

Me: Can't call right now, driving back from Del. I will call you later today. Final payment will be made when job is completed.

Contractor: Wow ok You tell me what is left

Me: Here is the itemization of things that were overlooked...

*Trim molding around the island

*Stairs

*No shelves in pantry

*Casing around the window

*1 pendant light left to hang

*Register vent covers and air vent under the island

*Finish baseboard molding and register vent along the wall

*Paint/Spackle touch up around the walls

*Tile back-splash not finished

*Cabinet hardware not installed

*Lazy susan not attached

Contractor: (sends me a copy of the bill) and says, "Ok we will address all concerns you have but will not do additional work like the steps until balance is paid"

Signed,

Please advise!!!