All Forum Posts by: Calvin Lipscomb

@Jillian Sidoti 

First off, thanks for taking the time to answer everyone's questions. Somewhat random question about fee structures. Not using any of this info to make an investment decision, just trying to get a better handle on how fees can be structured and actually work. 

Using TREF as an example, you said the 5.5% fee is calculated on the balance of the fund's capital account. 

After reading the Prospectus it was unclear if this is a one time or annual fee? Since it seems similar to a management fee, I'd imagine it would be annual to keep the lights on and put food on the table, but I figured I'd ask. 

For fees calculated off the capital account, particularity ones involving Real Estate, is the value of non liquid assets (Single Family Rentals for example) always held at the purchase price+ CapEx until sale or are they ever marked to market in some way post renovation?

Thanks again.

I think you missed the cultural meaning behind the name 'Tulsa' (google 'Black Wallstreet'). The point is not to invest and rebuild Tulsa. The point is to rebuild what 'Black wallstreet' stood for. This can be done in any urban market throughout the US.

Hi, 
All I can say is that east new york is one of the worst areas of Brooklyn in terms of crime. I would imagine any investment there would require intense property management.  Some areas are straight up war zones. Its been that way for years so wouldn't imagine any type of appreciation play either. 

Hi, 
All I can say is that east new york is one of the worst areas of Brooklyn in terms of crime. I would imagine any investment there would require intense property management.  Some areas are straight up war zones. Its been that way for years so wouldn't imagine any type of appreciation play either. 

Hi,

My name is Maicoll Gomez. I just graduated college a year early with two degrees so I can help my family. We live paycheck to paycheck and we have saved up some money (50k) so we can put a down payment on a house hopefully in Jersey City, or Bayonne. I have a good credit score 750+ but no job or income at the moment. How do you suggest I go about this? 

Thank you in advance, I appreciate that you took the time to read this. 

-Maicoll

Calvin Lipscomb we provided the appraiser with our detailed scope of work for the renovations and they conducted it based off of that. Approximate cost in my area was $550

 Listen to episode 144 of that podcast and he explains it well. I called around 6 credit unions in my area, 2 of the 6 were open to it. I started the conversation with I was looking for a commercial loan for my real estate business. 

@ Jason Wheeler i have read so many posts on here its just so much, with that said i think I am gonna go ahead and do business with them and document it on a thread here on BP

Hey BP,

I was listening to a podcast recently by Dan Lane from the Rental Income podcast  and he interviewed a gentlemen who was using credit unions to invest in value add buy and hold deals. I was intrigued by this as these credit unions were providing commercial loans up to 80% of the projected appraised value. At the closing this investor was in most cases not needing to bring any of his own capital, instead he would get a check for the rehab and more often than not would have some left to put into the next deal. 

I've since found a couple credit unions in FL where I reside and have also found two credit unions that will do it. I'm seeing terms of 5 years fixed interest rate of around 5.4%, 10 year fixed term or a 15 year balloon with a 20 year amortization. I realize these are commercial terms and I would need to refi at around the 5 year mark (I think I can negotiate this longer), but for the above investor it allowed him to buy some great properties with no money down. 

Anyone have any experience of using these loans?

Thanks!

Matt