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11 March 2020 | 4 replies
Consider yourself a problem solver, not 'a guy with a deal'.To go more in depth, listen to the BP podcasts about private money, and look into the book 'Raising Private Capital' or similar.Get contract language from a real-estate lawyer.
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12 March 2020 | 11 replies
I'm experienced at raising capital and working with investors and am detail-oriented enough to put systems in place for this.
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11 March 2020 | 13 replies
Also, I raised the price since I have so many interested so fast.
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10 March 2020 | 7 replies
My plan is to upgrade the upstairs unit first and try to get 800 a month out of it and then maybe try to upgrade the downstairs and raise their rent to 900 or 1000I don’t want to walk away from the deal because I feel that eventually I can make profit from the deal if I can get the rents raised on both units.
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10 March 2020 | 3 replies
I will say that for lenders, if you're going to meet one it helps if you have a deal you've done that you can talk about with them, or a specific deal you're considering - or at least some examples of what you're looking for, and the more specific the better.Basically, the more that you can show that you're serious, either by having a track record or by being able to talk intelligently about the kind of project you'd potentially ask them to lend on, the more seriously they'll take you as a potential borrower.It's not unlike a startup seeking funding from an angel investor, there's a whole psychology to it as far as showing that you have some knowledge and presenting it as a safe lending opportunity for them without coming across as "needing" the money because any hint of desperation will turn off a lender or investor quickly.BP has some great resources on this, you could search Bigger Pockets Raising Private Money or something like that.
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10 March 2020 | 2 replies
Your time is best spent finding deals and raising capital.
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12 March 2020 | 3 replies
@Shawn Burns I won't tell you if you should do it now or later - but it is worth mentioning that this will likely have an impact on the assessment of your condo value, which in turn may raise your taxes.
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11 March 2020 | 9 replies
Again, he confirmed that the topic is raised every few years but the actual process is extremely cost prohibitive and he does not expect any changes in the near or mid term future)Insurance: $2800/year (Per a discussion with my insurance agent this seemed in-line, if not slightly on the higher end.
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10 March 2020 | 11 replies
You could do that yourself, if you can raise the capital, or you could lease it to an operator.