All Forum Posts by: Thomas Stackpole

Hello BP,

During the process of renovating a million dollar property on my own, I've lost a few opportunities while my finances were tied up.

I'm looking for advice on structuring agreements for buy n hold using investors to fund both the acquisition and improvements.  My role will be to search, acquire and manage improvements and operations(investors will essentially be silent).  I'm also looking for a 50% stake in the property.

My target is multi family that has value add, improve units, raise rent roll then refinance, BRRRR.

I have a group of interested investors for buy n hold, but need some ideas on structuring the agreement.  The market I'm working in on Long Island is between 500k and 1.5M

I know for the standard fix n flip, you borrow from private or hard money lenders, then pay them back after refinancing the property, which we can do but we would not be able to pull all of the down payment and improvement money out.

Thank You,

-Tom

Hey Guys,

Thanks so much for your reply. Looking to buy and hold for cash flow.  Locally here on LI I lean toward towns with good school districts and good neighborhoods so as to minimize tenant issues. My friend who will be relocating is fresh out of college and doesn't have much experience but I'm looking to help him out.  Based on his limited experience I would be interested in value add homes but not full Reno or gut jobs until he gets his feet wet. 

After looking at the areas around Amherst on Zillow I did see that it was a higher end area but I didn't see many multi families. 

I look forward to your guidance. 

Best,

-Tom

Hi all, Just reading these posts now. I currently invest on Long Island but am looking into Buffalo since I have a friend relocating there. How's south Buffalo progressing. Also how are these areas: Amherst, East Amherst, Williamsville, Clarence? Thanks, -Tom Satckpole

Looking into the Buffalo market. Currently investing on Long Island but have a friend moving to Buffalo. East Amherst, Amherst,Williamsville,Clarence. Any feedback on investing in these areas would be appreciated.

Hey Shane, Just curious to see if you've made any progress with your search for contacts in the Buffalo area. I invest on Long Island but have a friend who is relocating to Buffalo and we are researching the area for possible investment. East Amherst, Williamsville, Clarence areas. Thanks, -Tom Stackpole