All Forum Posts by: Delon Hall

Jeff we appreciate your input but do you have to be so harsh?

Richard thank you for bringing this company to the Bigger Pockets community's attention so no one else falls for this scam. It does sound like you are relatively new and just a tad bit recluse with giving out your personal information. Next ask a lot more questions of anyone you look to do business with in the future.

Thanks for sharing your experience.

What markets are you interested in? what type of deals are you looking for?

Hi @Seth Mosley, investors do this all the time. Your next step should be meeting with your real estate attorney and ask how to structure a partnership with conventional financing, then go to the lender with the credit partner. 

I would like to challenge you to do the numbers on owning the property with a credit partner vs owning a property that was financed with hard money or by a portfolio lender. I have found that my numbers a pretty much the same or the credit partner turns out to be more expensive. Plus, the additional hassles of having a partner.

I know this comment is very late, but i would avoid a partnership which allows one partner to live within the investment property. A partnership like this seems much more like a personal loan then an investment. I don't see too many ways for you to structure this for a 4-plex with your current working dynamic. I would have to ask, how much do you have to put down? What is the working dynamic with you and the employee? If he fails as an employee or has a live in property manager, how will that effect the asset? 

I think a structure like this would only make sense if the numbers for the duplex were just so unbelievable that you had to jump on it and your only option was to partner with him. 

If you have the capital and the credit, what are you lacking, time, sweat equity, knowledge? I do understand that you save a few points in interest rates, but what do you loose in risk and opportunity cost.

Hey, not sure if you made it through Atlanta yet, but if you havent I have 5 projects going on at this moment and 3 more heading to closing. Im sure when ever you come to Atlanta I should either have a property or 2 either under construction, finished and on the market.

You can definitely still find properties at that price in Georgia, but as an agent my follow up question would be how much would you like to be all into the project for? How much rehab are you looking to take on? Have you considered Hard money?

Investing in flips in that price range in Atlanta could be very difficult. 1 over look in your rehab cost inspection can cost you big as far as margins. Another option is to buy-rehab-sell turnkey, it is very popular right now in Atlanta in that price range, yes your margins might be tighter, but if you lock up a buyer up front you cut out alot of risk that comes along with flipping a lower priced property.

When I partner with out of state investors, I challenge them to answer these 3 questions before they venture off into another state:

1. Market activity- Are you able to find inventory in your price range? Is there a high demand for retail properties? Can you get this locally?

2.Quality team members- Can you build a efficient team over X amount of time? Does a team that have these qualities already exist?

3.Travel threshold- If need be, How quickly can you respond to an issue? (over-the-phone, video chat, or face to face) How frequently do you mind visiting that State?

The last and most important thing when Investing from a distance is TIME. Take your time interviewing your team members, studying market trends, and measuring how each member follows up. Please dont rush, think about it as if you were dating each team member. You wouldnt "got to bed" with them on the first night, so dont hope into a JV/ partnership over a few conversations.

You can spend years trying to convince someone to become interested in real estate investing.

don't waste time convincing someone, focus on showing them how you have successfully done it yourself and ask them and follow up with to see if they want to join you.

Mean while hope on bigger pockets do some networking, find someone on here that you can build a relationship with and go from there. Dont let the fear of trust stop you from doing a deal. there's already to many hurdles in your way dont create another one.

Welcome to BP, this is definitely a great place to start. If you ever need some help or want to do a walk-through of one of my projects just let me know. I try to keep at least 1-2 deals going a month and i'm continuously searching and buying rentals for my clients as well as for myself.

A great tool that Zillow and Trulia has is the ability to see how many people viewed your listing. If you have a lot of views but only a few calls I would ask, How many photos did you post and their quality? How provocative was your description of the property, does it entice me to call for more information? Lastly, how aggressively is it priced?- at the end of the day price sells houses.

I know this may not answer your question directly but it will definitely help you convert leads to buyers. You really dont need a 100 people to call to make a sell, you just need 1.