All Forum Posts by: Brooks Mosier

Finding a true mentor with a real interest in seeing my company succeed. Someone who can guide us through the numbers, analyze deals, and point out what's good/bad. We have investors, and we have the hustle. What I don't want is to join a training program and just be another one of the Guru's many students, that I have a set number of minutes on the phone and paid an arm & a leg. 

Hey Mark, 

Can this be bought vacant? Or, do the tenants need to stay?

@Jay Hinrichs I agree with you that most TK operations aren't as concerned as much about the cost of capital since it is more of a volume play with constant deal-flow. Our company isn't necessarily modeled like that currently, as we usually have about 7 to 12 flips going at once  which encompass both retail and turnkey flips. 

That is why I posted this, since we are not necessarily a large TK volume flipper. Who knows? Maybe we'll morph into something different as some point... Right now we are focused more on quality over quantity and also flip properties in the retail world quite often. Business has gone great with the private lenders we have currently, and to your point, there hasn't been much red tape at all like you see with some hard money lenders. These great relationships that we have with our current private lenders, are the individuals that I was more so targeting in this post to see if there is anyone out there who would like to join in on what we have going on. 

I appreciate your input, and good luck to you as well!

@Jay Hinrichs I will check those websites out. Thanks for sending. Yes, I agree with you on the fact that there isn't too much money to be made on the lenders side. 

I wouldn't go as far as to say that I'm "worried" about paying $1K on a $100K deal. I am more so looking for more lenders with good rates since we are expanding and may need more capital in the future for our deals and other investments we're looking at doing. 

I don't know if unlimited money would make too much of a difference if we were paying 5 points... The reason, is because we'd being doing less deals since the 5 point origination would take away from the front end purchase price when offering the seller. This would ultimately lead to less offers getting accepted to achieve our minimum threshold of profit per deal. 

Yes. Short term loans that we can use to flip properties for 3 to 6 month holds during renovation. 

@Aaron Crouter we are not holding the assets, so there is no portfolio to pull out equity as they are all being flipped in a relatively short amount of time. 

Our company is expanding quickly and we're looking for more private money lenders to fund our short term (3 to 6 month) flips. We own around $1MM in real estate with the current flips we have going on right now, and that number is growing... We do retail flips and turnkey properties based in the Kansas City Market. 

This property is on a clean street in Independence, and cashflows very well! Housing Authority of Kansas City pays $842 of the $850 monthly rent! It is very a safe investment at an extremely good price. The tenants love the property, and care for it very well. They are ready to sign a brand-new lease! Please contact me for any questions or interest you may have!

@William Robison I appreciate your reply. I will take all of this into consideration and probably wait things out. Have a great weekend.

Thanks. 

I Guess I don't really have the knowledge at this point to understand why it's illegal. I have listened to Sean Terry talk about how he puts hundreds of deals together using this method and assumed its legal since he publicizes every one of them. He says that he does exact wraps of the mortgages all the time. I have also heard people in the Kansas City Investment Group talk about how they do it.... Interesting. Not sure what to think here..  What do you think of a regular wholesale deal Bill?