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15 November 2024 | 17 replies
I will need to partner with a builder to get financing.
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16 November 2024 | 2 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.
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14 November 2024 | 1 reply
My partner and I have built over 70 new homes in Florida.
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17 November 2024 | 10 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.I have quite a few clients investing in Ohio that are BRRRRing.
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14 November 2024 | 7 replies
Normally, it's offered to the other partners first and they can either both buy it to equalize the partnership or maybe one can buy it to take percentage ownership.I think you could handle this through a real estate attorney easily.
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14 November 2024 | 22 replies
We will be investing through a US corporation and all partners (and there are many) are foreign nationals so we cannot give any personal guarantee or collateral.
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15 November 2024 | 5 replies
They might want you to stew in it if you can't do the rehab.Your best scenario would be to bring in a partner on the flip who is experienced and share the deal with them to get the experience if you can.
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15 November 2024 | 3 replies
thanks Your best bet is to partner with a GC or find a GC that a friend of yours trusts.
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15 November 2024 | 15 replies
Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs, commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?
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15 November 2024 | 18 replies
Quote from @Chris Williams: Quote from @Nick Belsky: @Chris WilliamsIf you have no money in the deal, you are putting all the risk on the lender or partner... why would they do that?