All Forum Posts by: Gabriel Medina

Hello all,

I have a question for the folks in partnerships. My partner and I are looking to put an offer in on a 5 unit. This will be both of our first deals in equity partnerships. A quick overview of the numbers are PP 450k, Rehab 250K, ARV 1MM, Cashflow 1K. The plan is to hold the property for at least 5 years. My partner will be providing all of the upfront capital for the first year with refinance to follow. I will be overseeing the renovations, Managing the GC, Hiring the PM company and creating a passive investment. We are trying to figure out what percentages of ownership each role is worth. I'd be very grateful for any insight.

Thank You

Investment Info:

Single-family residence buy & hold investment in Greenville.

Purchase price: $86,500
Cash invested: $25,000

This is the first property purchased the the intent to BRRRR from the jump.

What made you interested in investing in this type of deal?

Cashflow

Hello all, I am contemplating applying for a HELOC through Wells Fargo. I'm wondering if HELOC's exist through private lenders. Does anyone have any insight on the subject?

Does anyone have a quality spreadsheet for analyzing buy and hold properties? I’m not quite analyzing enough to pay for a subscription here on BP. 

Does anyone have a quality spreadsheet for analyzing buy and hold properties? I’m not quite analyzing enough to pay for a subscription here on BP. 

Hello BP folks. Ive been doing a little research on checking accounts for my newly formed LLC. The purpose of the LLC/checking account is to have all transactions for future flip in one name and going through one financial entity. Fee's such as minimum balance, number of transactions, cash handling, wire transfer, and so forth. Ive found a few that seem to not charge such fees but Ive never heard of these banks, such as Azlo, Novo, Axos just to name a few. Do any of you have any experience with online based banks for their investing purposes? Any words of wisdom out there?

Thank You

@Wayne Brooks your absolutely right. But lets say I go ahead with the title searh and the property get sold during the process. I think that is what’s hold me back from getting the title search. Is there a way to prevent that?

I would say this deal is an infield double, which is not a home run. But with the me being so new to the game I’m really trying to gain knowledge. Like what are the hoops? What are the risks? How long does a title search take? Do people write contracts with contingencies about the results of a title search? I’m willing to accept the risk of wasting my time but I’m not in the position to waste capital at this point. 

@Ed Tamayo

@Ed Tamayo @Wayne Brooks. Thank you for that clarification and advice, that makes sense to me. I called an attorney this morning and they said that a title search would be $350. I don’t want to pay for a title search that tells me not to move forward with this property. What is the best course of action in the pursuit while not wasting money and protecting myself from future unwanted surprises? Again thank you guys so much.

So I found a property that peaks my interest online and while reading the description I see “Property is being sold as is and will be sold with a QUIT CLAIM DEED ..title needs to be quieted”. I sent and email asking for the reason to the quit claim and his response was “The house was originally purchased at the tax sale which is why it needs to be quieted”. Can anyone give me a little clarification and advice on how to peruse this deal?

Help me BP1 Kenobi your my only hope

Thanks a bunch