All Forum Posts by: David Fantell

I may be wrong but are you sure you are actually lending towards a property? Or this is Hard money? it doesn't sound like either. It sounds to me like you will be pooling your money with other investors and he will pay you 2% per month in returns. Basically a hedge fund but not backed by the FDIC. So you will give this guy your money and he will use it however he sees fit, most likely fixing and flipping homes and all he would pay you is 24% AROI. He will continue to re plenush the "POT"so if you request out he can pay and keep some on the side to pay the monthly % but he will be keeping all the profits. If that's the case you will be getting a better return then the banks or stock market but not as good as if you just partnered up with someone and split the profits 50/50

@Brandon Turner

thank you for the reply and detailed analysis. It definitely gives me a lot to think about. Its amazing that a house with a difference of over 100k between purchase price and estimated ARV can possibly net a loss for the investor.

Does anyone have a general contractor they could recommend in the Reno,NV  Sparks,NV Carson City,NV area? Im looking to rehab a 2200 SQ FT single story home.

Thank you

David

@Brandon Turner

 Thank You

Hello everyone,

I need some help.  I am analyzing my first single family fix and flip property and I am trying to total all expenses for the project in order to present it to my gap funder, but when I run the numbers they do not seem right.  I know I am doing some thing wrong but I don't know what.  Can you take a look at my math and help me out... Thank You

A few Questions off the bat- 

1.Is property taxes paid in a lump sum when property is purchased or is is broken up over 12 months?

2. I read somewhere online to estimate around 6% for closing costs- should that be budgeted for purchase and sale or only purchase?

3. With closing costs- are escro, titling fees lawyer fees and all that included? or should i budget an additional 10% estimate aside for those fees or additional fees?

I used a analysis i found on BP, modified a little to fit my needs, and the house flipping calculator.  They are attached.  Thank You.

Thank You @James Wise

Thank You @John Steele

Hello all my name is David Fantell, I am currently living in Reno, NV with my wife and daughter and son on the way. I have just been introduced to real estate investing from a friend of mine and quickly became very interested. Currently I am working on getting my first fix and flip property through HML and private funding. Eventually I want to move on to rentals in multi family properties. It is a booming market out here and there is a lot of competition, but i enjoy the whole process as of now. I recently signed up at BP and am currently just trying to network and learn as much as I can. My current job is a US Army Recruiter and I am currently going to school to earn my BS in Business Management, so in between busy days I'm on here reading forums and watching the webinars. In addition to out actively looking for properties. My end state is to be successful enough to supplement my income with the military, get out and have more time to spend at home with my family.

well thanks for reading 

David Fantell