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1 September 2018 | 13 replies
Real estate agents, property managers, attorneys, etc don't have the skin in the game like an owner does.
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28 August 2018 | 0 replies
I've flipped multiple SFHs, but this would be my first commercial deal.I've talked to several lenders, but they all have one or more issues, such as needing 25% down when I can only do 20%, proximity of property is too far from a major city (I'm in WV and no city in the entire state has more than 50,000 residents), I don't have any commercial experience or track record, etc.Therefore, I'm now contemplating asking the seller to consider leasing me control of the property for 2 years with an option to purchase within that time frame.This would provide me with the following benefits:allow me to negotiate the upcoming lease renewal of a major tenant,give me time to come up with a larger down payment,give me time to establish experience managing commercial property,give my new LLC time to establish a track record and income,give me time to find a lender willing to work with me.I will also need to pay the current listing broker their fee, and I would need to pay a deposit and monthly lease payment to the current owner.My questions are:Does anyone have experience with such an arrangement?
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28 August 2018 | 2 replies
There are also multiple books that you can read.
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29 August 2018 | 5 replies
I can see this adding up quickly once I find myself digging deeper into multiple properties.
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30 August 2018 | 2 replies
Please keep in mind that we will have a 45-day window to select at least one property with a value of at least $265k.1) BRRR (to continue equity growth)-This seems like a great strategy, but I’m concerned with interest rates continuing to rise 2) Invest it all in one property 3) Find multiple properties 4) Other- please explain Return-There seems to be a lot of different ideas out there when it comes to returns.
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30 August 2018 | 4 replies
Here's the deal:- SFH in a suburb of a major city with great fundamentals (job growth, population growth, multiple sectors).- Purchase: $250K (presumably funded by Class A & B shares).- Rehab: $80K (100% bank loan)- Sale: $460K ($130K profit)- Deal is owned by LLC (seems like a general fund LLC for various targets), not an LLC specifically for this deal. - Payout: Upon sale and paydown of bank debt, Class A shares get their principal, then Class B shares get their principal, then Class A gets their 20%. - The Sponsor isn't taking a management fee (I presume they are majority owners of Class B).I would be investing $50K into the Class A shares, due in 90 days.
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16 September 2018 | 10 replies
As a first property and to get the feel I would think a SFH is a conservative and normal approach, it doesn't have the potential cash flow of a MFH but also with that potential comes more risk, more costs and multiple tenants to juggle.
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31 August 2018 | 22 replies
Please keep in mind that we will have a 45-day window to select at least one property with a value of at least $265k.1) BRRR (to continue equity growth)-This seems like a great strategy, but I'm concerned with interest rates continuing to rise 2) Invest it all in one property 3) Find multiple properties 4) Other- please explain Return-There seems to be a lot of different ideas out there when it comes to returns.
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17 September 2018 | 8 replies
OK, let's run down the list for C-class rentals:Toilets - usually Kohler, sometimes American StandardRefrigeratorsMicrowavesStoves/ovensWashersDryersDishwashers - Frigidaire has let us down hard in the past in multiple categories and at multiple price points (this includes the Gallery line).
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4 September 2018 | 49 replies
When I was at another company, we got approached to find and provide construction services for a new flipping show where they were going to do multiple houses adjacent to each other.