A $10M project repurposing a former grocery store into a dynamic dining and social hub in the heart of FUSE.🚀 Big things are happening in Gastonia—what are your thoughts on these developments?

Hello, To all my permit expediters and all other contractors, how do you all go about finding leads for projects? 

A good designer and architect are key for a successful project like this and keep in mind these aren't cheap.There's a lot more details to consider, feel free to DM me for more details.

Some other investors had purchased it to flip it and decided they had too many projects going to handle one this big.

There is no requirement to use them as mentors for doing the rehab projects as described in the horror story above, but they do their own underwriting so they will be investing themselves to assure the deal makes sense and is successful to assure they get their payments and interest. 

If you love property management and want to start a business keep looking into it.Otherwise keep buying income producing properties to generate wealth.

Starting with a single-family can be a great way to start especially if you’re looking for a lower-risk starter project where you can get your hands dirty and learn a ton by doing.

In my experience, making on-time payments and making it clear that they are the first lender I am calling to fund a project have been necessary to building a strong relationship fast. 

The return on the investment was worth the time spent on the project.

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name?