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23 September 2018 | 0 replies
Looking for advice on finding the best way to finance this project and how.
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25 September 2018 | 12 replies
I am currently reading through the FLIP book which I heard about here and has a lot of information, I am currently getting multiple bids on a number of items for my current project while they are doing title search.
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23 September 2018 | 3 replies
. - I decided I didn't want to mess with it because Im starting another project with higher potential return.Now, as an example, I look at this one:https://www.zillow.com/homes/63-GRANVUE-DRIVE-BELL...Its on the Auction block, if I picked it up for 2 or 3k, and sold it for 10k to someone else who wants to work with it, essentially a wholesale deal, and didn't spend any money fixing it up, and agreed to max 1k realtor fees if any, I might make some money on it.If you go to our county tax assessor site, and search '63 Granvue', youll see that 1) the total taxes for 2018 are $2981.38, and 2) they are paid by the bank already for 2018 http://www.co.st-clair.il.us/Pages/parcel.aspxWhat I am asking is - if I bought this at auction, and sold it within a couple of months as a property someone else can rehab, how would the property taxes work / what would I end up paying?
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25 September 2018 | 9 replies
I am very interested in a syndication project in Kansas or MO
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2 October 2018 | 5 replies
I have seen projects go up where you wonder "How did THAT get approved?"
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27 September 2018 | 13 replies
Find the properties, do the rehab, manage the project?
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22 July 2018 | 1 reply
The back-up plan is to simply flip the property and take the cash out now for the next project.The Project (2 unit Multi-Family):Acquisition/rehabLand Acquisition: 275k (I'd use my cash to buy)Hard Money Loan: 100k (I might use my home equity line at 4% APR over 20)ARV: 465k (This is my best assumption based on other comps)Refinance: 348,650Cash out: 26,250Income:Rent: 1800x2 (This is conservative)Capex/Maint. 300x2Expenses: 400 (water/trash/electric/sewage/insurance)Using these numbers the property looks like it generates a COC return of about 30% per anum (on the 26k outstanding).
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7 March 2022 | 14 replies
I have plenty of friends using money to fund their projects and really, have no idea where the funds are coming from.
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24 July 2018 | 8 replies
Without an asset management fee in place (and corresponding language in the operating/company agreement) there is no incentive for another person or entity to take the reigns and see the project through.Another important consideration is the probability that revenue does not meet and exceed the preferred return, in which case the issuer/manager would not receive a cash flow - this can lead to reduced effort and mismanagement of the assets.
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14 August 2018 | 11 replies
I have offered to help on projects since I have some skills in trades, but people don't want someone that can only show up for a few hours a day.