All Forum Posts by: Cameron Sharp

In negotiating, he who speaks first loses :)

Ask him what he wants as a split, and have him speak first. If it is desirable and fair to you, take it. If not, do the back and fourth until you agree to a win/win. And remember win/win doesn't always mean equal/equal.

Consider his resources and your resources in what you bring to the table. The different kinds of capital are: knowledge, money, time, labor, contacts, etc.

Good luck

How would you finance it and how much would your payments be?

You could try titling to a trust or an LLC/Corp. People transfer title for protection all the time with out the bank having a problem with it.

I agree, hard is most things in the beginning. Stick to it and it becomes easy. I used to think how hard it was, but can now do it in my sleep.

Stick with it, great positive attitude!

I am an investor of 11 years and I do not have my license. It is personal preference. I would recommend find some agents that are versed in working with investors to learn from.

One opportunity I have missed out on from not being licensed is; when people begin to realize you are a real estate mover and shaker, often times people will want to list there home with you or have you help them buy a home. I could have made some side cash listing their homes or helping them buy.

I am ambitiously lazy, so I like having other people do a lot of the work for me, that is why I continue to use, in some circumstances, agents to do the finding and listing for me.

Good luck :)

@Erica R. Love it! Looks awesome

Real Estate Opportunist

I would recommend the brown color. Paint the floor and then put a clear lacquer coat over it. I get all my recommendations from Sherwin Williams. Even if I do not buy there paint, they are pros at helping find a solution and quality color and finish. Find someone there who has been around.

With the lacquer, make SURE your get one that is non-yellowing. I painted a wood floor and put on a lacquer with out checking, and it dried yellow. Looks like crap :)

Oils based is always better and more durable, but they do make some good quality latex. I think the key is putting on a nice lacquer after to protect it and make it easier to clean.

BTW, I did my floor a green/grey color, like in your link. I should have done brown. Consider a neutral color so it will appeal to more people if you ever decide to sell.

Good luck

Ask these questions of each. See below. Make sure you know what you want, resources you have, and exit strategies planned out before hand. - what are your points and interest? - how long are your terms? - do you lend on ARV or current value? - what LTV do you lend? (Most are 65-70% ARV ) - do you cover rehab? - does the LTV include points and interest? - are there any upfront fees? Of yes, stay away in most cases outside of appraisal, docs fees, etc. Lenders who charge to consider your deal or charge an upfront fee usually make their money from charging you. If they say you have to "buy" their program, be cautious. Some will charge an application fee, don't pay more than $100 one time. - what are your penalty fees if the loan goes past term? - ask for references. Some wont provide to protect their client, but some will share. Doesn't hurt to ask. - are there any hidden fees? - how much money do I need to put in the deal as down payment or skin in the game? - how do you disburse the rehab funds? - how fast can you close? - how do you determine the ARV? Appraisal, BPO, comps, etc. This should be a good start

Ask these questions of each. See below. Make sure you know what you want, resources you have, and exit strategies planned out before hand. - what are your points and interest? - how long are your terms? - do you lend on ARV or current value? - what LTV do you lend? (Most are 65-70% ARV ) - do you cover rehab? - does the LTV include points and interest? - are there any upfront fees? Of yes, stay away in most cases outside of appraisal, docs fees, etc. Lenders who charge to consider your deal or charge an upfront fee usually make their money from charging you. If they say you have to "buy" their program, be cautious. Some will charge am application fee, don't pay more than $100 one time. - what are your penalty fees if the loan goes past term? - ask for references. Some will provide to protect their client, but some will share. Doesn't hurt to ask. - are there any hidden fees? - how much money do I need to put in the deal as down payment or skin in the game? - how do you disburse the rehab funds? - how fast can you close? - how do you determine the ARV? Appraisal, BPO, comps, etc. This should be a good start