Almost 500 houses ----> Multifamily

[Jason Bible]

Howdy BP,

I am a real estate investor in Houston Texas and started full-time investing in 2013.  I started a wholesaling and flipping company that has closed nearly 500 deals.  I sold that company in September '18 and started buying small multifamily.  

A couple of friends of mine recommended I start regularly posting here on BP.  So I thought I would start this thread and see where it goes.  Ask Me Anything, hopefully it is real estate related.  

-JB

[Kirby Davis]

Originally posted by @Jason Bible:

Originally posted by @John Elias:

For someone looking to get started soon, if you had to redo it all again would you still start by wholesaling and flipping? I actually kind of want to follow the path you did. Flip at first then transition into rentals once i get some capital

I just closed this one with a partner.  He gets 9% interest and 30% equity.  Ill cash flow 900/month and have no money in the deal

 Jason, on this deal, do you repay the full loan or 70%, as the lender maintains 30% equity in the deal. Do you have more details on how this is structured?