All Forum Posts by: Paul Jamgotch

Would you accept a good $99,900 offer? If yes, I would consider listing it at that price in July for the <$100K shoppers. Some new buyers will not offer $5K under list. A good listing agent will tell buyer agents that any price concession is already reflected in your reduced list price, hopefully keeping low-ballers from wasting your time. Good luck however you move forward.

I know a PML and a GC who are teaming up to buy, rehab, and rent multiple properties. They are forming an LLC together, I believe the PML will post purchase and rehab funds & will receive an 8% pref. rate. The GC manages the properties. They 50/50 split any profits left. I do not know the ownership percentage but can't imagine the PML is handing 50% of equity from the start. I would guess 75/25 unless GC is throwing money in this as well; he's definitely adding value by managing and rehabbing at a good rate. Time will tell how this works out for them. My guess is that as long as rents and market are stable/improving they will be happy.

Private money and rentals are tough to match. Look ar it from PML's perspective...she can get 7-8% and have all of the risk or buy her own investment property and net 9-14% plus appreciation.

Maybe post answers to these questions so those with cash can evaluate what you have: How much are you putting down,  what are you paying, what is expected rent, what is market value, what rate/share are you offering? Best of luck.

Any local contractors want to consider a JV with me on this if I purchase? Would first need local take on home details, size, ARV, etc. Please PM me.

@Ron Jiron is this easy to show?  Thx

@Aaron Montague $80K home price, my $20K down, seller holds $60K note for 5 years. I get 75% of profits after we pay everything incl. a PM. Do I have all of these details correct? thx

I am co-funding a JV with an unrelated individual. We are each funding 50% of the project and have a third acting as GC. We will have a 1st lien with GC/title holder. In case of a default, how does the co-funder and I secure our 50% interest? We do not believe an LLC is necessary since home will not be titled to us.

@Account Closed Cool. Best of luck. 

Since you spend so much time trying to put buyers and sellers together have you considered becoming a licensed agent? Seems like a natural fit for your interests.

I only bring this up because I see that you post in many threads where someone is trying to sell a property. You mention your contracts, large buyers, buyers' need for a different investment than the subject, etc. I envy your diligence but seems to me like you might be swimming against the river with this strategy. I think you might be scaring off a lot of sellers with this approach but what do I know. If you are seeing results than more power to you.

 I know this all does not relate to the topic so I apologize for that. Just some observations on your posting from the months I've been here @ BP.

@Account Closed 

Are you making a living trying to introduce a buyer in Location A to a seller who has a property which you have never seen in location B?  Thx

please post details. thx

@Hector Perez 

please give me a shout if you decide to FLIP properties like this. Owner-financing can get messy for PMLs... especially since Dodd-Frank came along. Good luck.