All Forum Posts by: Christian Menchaca

@Nathan Grabau I guess I’m over thinking . On a side note this would be my first biggest deal too date. I’m gonna counter there offer with the 50% equity 50k allowance for reno 90day turn around and sale. I’m just unsure the of the outcome. What happens after the 90 days? Odd questions thanks for your advice. 

@Nathan Grabau update they are running into issues securing the loan. They are asking me to join them on the loan with a 50% equity only issue I’m having is how do I go about with the private loan and turn around and pay on the 1st position loan. I was hoping to avoid being liable on the original loan. Our exit strategy would be a fix and flip. At 500k we think would could turn a profit at minimum of 100k the max 300k. county tax assessor has it at 750k without renovations we would force value to the smaller homes section off x amount for the two house and sell separately.

@Steven Goldman update they are running into issues securing the loan. They are asking me to join them on the loan with a 50% equity only issue I’m having is how do I go about with the private loan and turn around and pay on the 1st position loan. I was hoping to avoid being liable on the original loan. 

@Ned Carey update they are running into issues securing the loan. They are asking me to join them on the loan with a 50% equity only issue I’m having is how do I go about with the private loan and turn around and pay on the 1st position loan. I was hoping to avoid being liable on the original loan.

Hi, I’m new here thought I would ask what’s y’all’s experience in investing with family. My cousin who ownes and runs construction company asked me to invest in a property he got under contract for 500k I have another cousin who is a successful wholesaler. I asked him to take a look at it and got back to me saying it’s worth 700-800k based on near by comps. We came to an agreement in equity and some cash for the deposit to purchase and some allowance for reno. I haven’t gotten anything signed yet. What should I do continue to go through with this or just say no.

Hi, I’m new here thought I would ask what’s y’all’s experience in investing with family. My cousin who ownes and runs construction company asked me to invest in a property he got under contract for 500k I have another cousin who is a successful wholesaler. I asked him to take a look at it and got back to me saying it’s worth 700-800k based on near by comps. We came to an agreement in equity and some cash for the deposit to purchase and some allowance for reno. I haven’t gotten anything signed yet.