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28 August 2018 | 1 reply
I currently live overseas, have multiple single family homes / condos (In Kennesaw, GA) I would like to have managed at a reasonable price.
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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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6 September 2018 | 2 replies
@Joshua D. curious what questions would you recommend I ask the two contractors im interviewing prior too deciding Specifics requests ,, per your experiences , you’d asked prior tooWhat expectations do I make clear too the one hiredWhat would you advise be put in writting prior tooAnd any other advice .
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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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30 August 2018 | 1 reply
The problem is the overwhelming responses, mostly bad, and the time it takes to make selections, schedule interviews, and go through the whole process.Anyone have any good tips on how they like to find talent and save time in their hiring process?