All Forum Posts by: DeWayne Allen

@Justin Goodin,  went to the Deal Maker conference last week.  Spoke with some really great dignitaries there.  There were lots of success stories from his mentoring program.  It seemed very legit from an outsiders view.

DeWayne

Thanks @Greg Scully and @David Acosta.  Would it be okay if I show you the data for your opinion.

DeWayne

Not the coaching, but I am going to the Deal Maker Conference this weekend in Dallas. 

Hey folks

I just got an off market opportunity from my commercial realtor on a portfolio of 4 duplexes.  On the surface, it looks like a great buy.  I also have some potential partners who would like to join me on venture.  I am very familiar with the equity and cash flow splits on bigger properties (apartments). Anybody know how to set this up for this type of deal?    Thanks in advance.

You should check with your local lender but since a 4-plex is still technically considered a residential property.  They will use the standard methodology (e.g. market comparables).  Although I know my lender has used the cash flow (rent rolls) as a significant factor in ability to payback the loan. 

@Greg Soon

You should run to tax assessor to see if any permits on the property. This would let you know any history of major repairs that require code validation. Your due diligence is key for this property

@Duncan Kelm Thanks for the update.

So folks we got a response and as I am sure @Dan Barli stated the lawyers will need to get involved.  Here it is "They are telling us that they are not willing to cancel the contract or give the EM back. They are stating that the contract is still active and they intend on closing."   We have the realtors team lawyers working through the issue.  We have already cancel the loan processing and have the lender send over the appraisals.  Any more pointers?  

Thanks folks