All Forum Posts by: Erik Hansen

@Jay Hinrichs

Will do.  Thanks Jay, much appreciated.

The other option presented to me by a RS rep after probing a little further was to partner up with a more experienced investor/flipper and form an LLC with them. Have you heard of anyone going that route successfully? Does that sound feasible? As I understand it, all I would need to do is find an experience F & F to partner up with, form a new LLC for the project, and then go get it done. Would that effectively protect both parties if I'm ok with carrying the financial load and risk but just want the experienced/trained oversight to mitigate said risk? I'd be more than happy to pay for the coaching/mentorship on my first project by splitting proceeds. The value is obvious for me but more importantly I want to make sure its completely worth their time as well.

@Jay Hinrichs I am also a newer investor here in Portland, OR dealing with the same issue/dilemma - insufficient capital to complete my first fix and flip, which forced me to explore and research hard money options. I've been 'approved' with one here in Portland and although they'll finance acquisition and rehab costs, I'm not terribly fond of the terms - 12% and 2-4pts. I've looked into and applied with Realty Shares as they offer 85% LTV @ 9% for 6-12/mo. Best I've found this far during my research however the only catch is they require you to have at least one project under your belt before they'll approve funding. Do you think Gorilla would be a potential solution aside from the obvious private money solution? I am more than prepared and capable of putting as much skin in the game as financially possible(~50K), but with the areas prices it's hard to find a rehab project that doesn't fully tap me out.

Any thoughts, feedback, advice, would be much appreciated. 

Erik

I don't have extensive experience with any one in particular but depending on which OS you're familiar with or currently using(whether your an Apple or Android user) you should find several to choose from in the corresponding App Store.  I've played around with freee versions of 'SPOTR' and 'Real Estate Calculator'(for IPhone/iOS users) a little bit and they seem to be pretty decent at calculating/providing the basic information for an initial overview or evaluation, but for in depth analysis I seem to inevitably revert back to the Excel spreadsheet.  Some of the apps are free initially but want to start charging for saving your analysis beyond 1-3 deals.  In other words they're free to try out but will cost you a few bucks for continued use.  

Always Be Closing

Hello, I am seeking some advice/counsel for analyzing a deal that could involve the purchase of 4-6 duplexes, including one that has severe fire damage and deemed a total loss by the insurance co. Although I'm a little more practiced with SFR's and analyzing those potential investment opportunities, I'm still pretty new at this and therefore having a difficult time getting comfortable with the numbers. Finding comps and determining appropriate cap rates to use is proving to be a bit of a challenge. Anyone willing to help out with this to get me moving in the right direction? Or help identify the key components or variables I should focus on when analyzing duplexes? I can provide all of the pertinent details if someone is willing to help out. Thank you in advance.

New to BP but I have already learned a lot in a short time and made some great connections. Excited to continue learning and meet many more in the BP community.

Thanks!  Looking forward to forging relationships with lots in the BP community, and more specifically the Portland area!

Hello, my name is Erik Hansen and I reside in Portland, OR. For the past month or so I've been fully immersed in real estate investing education - books, REI groups, seminars, etc. I have fully committed to learning as much as possible and meeting with as many like-minded investors as time allows. Initially I am focusing on learning wholesaling and fix'n flip strategies. What better place to further enhance my real estate knowledge and network with other investors than Bigger Pockets?! I look forward to meeting, learning, and sharing information with the entire BP community in order to help everyone achieve their real estate goals. So happy to have found BP!