All Forum Posts by: Evan Bell

$1m, easy decision.

Contact Briana Malkoon , she should be able to help you out.

I can't answer your specific questions, but I can point you to a good contact I have worked with. Get ahold of Briana Malkoon and she can help you with the HML side of stuff.

Ah ok, I was active on that thread, just couldn't make it to the meeting cause we were out of town - actually looking at properties in San Diego when you guys were meeting up.  Please do let me know about future flips.

@Shiloh Lundahl very cool! When/where is your meetup? I am interested in attending and networking with fellow Arizona investors. From reading your posts and seeing the types of properties you like to get involved with, I would be interested in talking with you about partnering on some of the fix and flips you do in the future.

I've done a partnership before, with my parents, very unofficial. We have since setup an LLC and are going to be making investing our business instead of hobby.

I have an agreement from someone outside of family/friends to be a private money lender in the flipping side of our business.  Needless to say, there are some questions about how to properly structure the inner workings of the partnership.

The LLC is a single member, with my wife as the sole member and myself as a manager. We do not want to bring the partner into the LLC, but would rather just have him contribute capital to the projects. What is the best way of going about this? Should we have him write a check to our business and put it in the business account, or??? As this is our first time partnering with someone on a solely business based relationship, we aren't sure the proper way to do stuff.

The majority of funding for the deals will be coming from hard money right now, with a small portion coming from our private investor and probably 20%-30% coming from our LLC. I know that the HML will be in first position on the deal, should we even attempt to put our private lender in second position? I'm not sure what the purpose of doing this would be, as there is no way he would be able to get the property with the HML being in first position on the loan if something were to go wrong.

If there is anyone who is in the same scenario or has done this before and wouldn't mind lending some advice, I would really appreciate it.

I was in the same boat and ended up finding a local bank that has a portfolio lending department that will be giving me a HELOC at 60% LTV with origination costs of $2k and interest rate of prime+1. Draw period of 10 years and repayment period of 20 years.

Try rentometer.com for market rents.

Tim Gordon nice work and good turn around time. PM and colleague request coming your way.

Anybody? Bueller?