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14 December 2024 | 2 replies
Floor Plan CreatorPlatform: AndroidFeatures:Allows you to create detailed 2D and 3D floor plans.Supports laser measurer input for accurate measurements.You can enter exterior walls, fix them in place, and add rooms within.Offers automatic calculations for perimeters, rooms, and walls.Bonus: Plans can be exported to various formats for further editing on Windows2.
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17 December 2024 | 12 replies
Would be happy to meet up and discuss your goals in more detail.
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
19 December 2024 | 5 replies
If you haven’t already, consider learning underwriting software or creating a detailed spreadsheet model to speed up your analysis and make apples-to-apples comparisons across deals.Third, as you’re building your team, focus on finding partners who align with your goals and strengths.
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13 December 2024 | 9 replies
Here are some other strategies:Investor Networks: Share through local REI groups or investor meetups in Colorado and Ohio.Direct Outreach: Use mailing lists or email campaigns targeting known investors or real estate firms.Social Media: Post in real estate forums or Facebook groups for investors.Websites for Property ListingsRoofstock: Specializes in selling single-family rental properties to investors, offering built-in tools for analysis.BiggerPockets Marketplace: A hub for active real estate investors, perfect for promoting rental properties.Auction.com: If you’re open to auctioning properties, this platform reaches a broad investor audience.RealtyMogul: Offers connections to individual and institutional investors, especially for multifamily properties.MyHouseDeals: Focused on connecting with investors looking for fix-and-flip or rental properties.Zillow Rental Manager: While more general, it can still attract landlords looking to expand portfolios.Mashvisor: A great platform to market properties with detailed cash flow and rental projections.PropertyShark: Targets real estate professionals and investors with access to detailed property data.These can help you reach a broader audience and possibly sell faster.
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18 December 2024 | 7 replies
Available but not on demand.The Lowballer: Initially quotes a very low price but may later demand significant cost overruns.Be wary of contractors who become defensive when you ask detailed questions.Happy hunting!
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16 December 2024 | 12 replies
Hello BiggerPockets, I'm going to start a thread that details my investment journey with Doorvest (https://doorvest.com) .
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21 December 2024 | 10 replies
I can provide more details but these are the highlights.
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18 December 2024 | 4 replies
I would pay one of them to review the full details of the transaction and give you a road map of how to proceed before going any further.
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16 December 2024 | 3 replies
Feel free to connect for a more detailed explanation.Best of luck.