All Forum Posts by: Han Oo

Hi all, how are you all doing? I submitted the offer on one duplex but seller rejected because they are selling 3 duplexes together. They are all tenanted and one next to each other and in Class C neighborhood. Currently, I cannot get loan for all three due to debt to income ratio. So, now I am asking some of my friends to partner with me to fund the deal. Below is my thinking and structure to buy and refinance plan. CMA was about $120,000.

Purchase Price for 3 duplexes : $240,000 

Current Rent: $2,850

Rehab: No plan to rehab

Option 1:

Buying with 100% cash from my investor and refinance later to cash out later to pay back to my investors. 

Equity and cash flow split: 40% to 50% split 

Entity: LLC ( Already found the lender who can do cash out refinance under LLC for 1 to 4 properties).

This is only if the appraisal comes back with at least $300,000 then we can do 75% to 80% LTV cash out.

Option 2: If the appraisal comes back short, then I wan to like this as my exit strategy. 

I would like my investor to act like my bank and I will do 30 year amortization with agreeable interest rate with the option to refinance in 3 year to 5 years. 

They will still get the equity and cash flow split according to the operating agreement. So, my investor will be getting the loan cash flow, 50% of rent cash flow and 50% equity split. 

So, what do you think about my plan? So, I am also thinking of getting appraisal first since I am not rehabbing or doing anything after I got under contract to make sure that I can do refinance. Of course, I will have to spend on appraisal first. Thank you all in advance. 

Very Respectfully,

Han

@Willem Botha thank you for sharing your experience. May I ask is that your name of the turnkey provider is Midsouth home buyer? If you don’t mind, how did you go about financing? Did you get any bank or financial institutions financing as non-US? Thank you in advance.

Hi all, I am a buy and hold investor from VA and now start looking to invest in Triad area, NC. I would like to connect and get some recommendation for wholesalers, investor friendly realtor, gc, property manager and closing attorney. If there are some deals or listing, I would like to come and take a look. Please PM me. Thank you.

@Tyler Wittwer Sorry to jump in this thread. I am do research on Turn Key companies and I found 3. Memphis Invest, Norada and Bridge Turnkey. I would like to hear more about experience.

Thank you @Amy Wan and @Dean Letfus. I will do more research in Regulation S. For offshore thing is a bit too much for me now but I will look out for more ways. Thank you for giving me some thoughts. 

@Marc Winter, @Dean Letfus, @Alina Trigub, @Amy Wan

Thank you all. So, my idea is that business will be set up in US and marketing US property in Burma and Singapore to bring investors to the state. It is going to be something like Turnkey real estate investment for overseas investors. So, I will check with securities attorney but I heard the fees with securities attorney are expensive. Do you have any one in mind if you don't mind.  Thanks again. 

Hi all, how are you all doing? My question is can I pay someone finder fee if that person bring the investor for the deal? For example, I found the deal for $200k and that person brings 4 investors with $50k each. So can I pay finder fees to that person? Currently, I have ex-manager who is a realtor in Singapore. She also has brokerage firm in Burma as well. Now she’s marketing Singapore, Thailand, Malaysia, Australia, England and New Zealand properties in Burma and there are some Burmese and Singaporean people investing in those market. That’s why I got this idea. Thank you in advance.

Hi all, I am a investor from Virginia and looking to invest in Winston-Salem, High Point and Greensboro area. May I ask how is East Winston area? Is that safe or high crime area? I am not very familiar with the area. Thank you all in advance.