Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Tom Sanquist

Tom Sanquist has started 7 posts and replied 15 times.

Thanks everyone! I'm confident now that I'm at a fair price. 4 single family home package for $375,000 with a $40,000 NOI.

I'm selling 4 of my rental properties as turn key investments. What ROI would make investors very interested?

Post: Driving for dollars

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

@Jill DeWit Great advice!

@Adam L. what it's your goal? If your looking for cash flow then this is horrible unless you plan on putting a lot of money in. If I was to buy a property for 145k I would want at min 2000 a month rent!

I ran in to a tenant of an apartment building and they hear rumors that the owner is considering selling. How would you proceed? So far I found there mailing address on the county website and sent them a short but to the point letter. 

Post: Investor wants 50%, should I?

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

@Daniel Blackford Pref was not brought up. I agree with the min 51%, I made that mistake with a previous construction company, we were 50/50 and decisions could never be made!

Post: Investor wants 50%, should I?

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

Lynnette E. The investor is for the downpayment,  he will get his money back in the first year when I refinance.  

Post: Investor wants 50%, should I?

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

Thanks everyone! My original offer to him was 80/20, he was stuck at 50/50. Didn't feel right but this was new to me so wasn't sure if I was missing something. I will be making phone calls for other investors. Thanks again!

Post: Investor wants 50%, should I?

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

@Mike M. Thank you!

Post: Investor wants 50%, should I?

Tom SanquistPosted
  • Investor
  • Albany, MN
  • Posts 15
  • Votes 3

I'm asking for 375k to buy 30 units (buy and hold) in the next 6 months, my investor wants to do a joint venture by creating a parent company with both of our llc's.

Im doing all of the due diligence and long term managment of the new properties. He wants to split 50/50 of all properties acquired and 50% of the 10 current properties I own.

I will not have to put any cash of my own in if I give home 50% of my currant properties.