can you layout your typical transaction with these folks its unclear from your post how these were set up.. are you a borrower and they are the first position lender on flip deals ???

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

@Shaun OrtizMy first deal 19 years ago started as kind of a mess, but I got it cash flowing after a few months.

This was being done by amateurs without mentors, BP, a decent Internet forum, anyone to ask for advice, or heck, without knowing anyone that owned more than one house.

@David Weitzel great deal, and welcome to the forumns, I love the idea of doing a flip on my own street, seems easier to keep things under wraps but perhaps you still had contractor issues it sounds like?

I know of a couple people who are doing this very unscrupulously at the moment and have seen how they are structuring their deals.

It’s not always obvious, but you can tell if you are dealing with a custodian rather than an administrator because they will usually have the word “Trust" in their name or they will be a bank or brokerage.

This is not the case for the majority of metro areas across the US.In less hyperbolic markets there wasn’t an intense amount of speculation so operators didn’t pay high and are weathering the storm on interest rate resets and are finding a way to refinance Deals with maturity walls.I am finding that a lot of killer deals with my clients are happening in the sub 50 unit deal space for those who need to sell, because there’s much less competition in a chase for yield.  

Whether that’s underwriting a few deals, reaching out to agents, or networking with investors, progress comes from momentum.Looking forward to hearing more about your journey!