All Forum Posts by: Harry Williams

@Mike Zipf as someone who works for a search company, I approve this message. 

Thanks @Jason Hendrickson @Bob Okenwa. If you were to suggest a handful of channels, what would they be? I agree that the set up above might be too much for 2 people. Thanks. 

Hi, I am beginning the process of investing in MF with a partner and hoping to set up a Slack channel to ease communication. I am wondering what "channels" to set up within Slack. If you are not familiar with Slack, a "channel" is simply a dedicated place for a team to share messages, tools, and files as it relates to topic. So far, I have the below channels:

• Purchase: conversations about buying options
• Legal: conversations about legal (LLC, LOI, PSA etc.)
• Finance: conversations about finance
• Management: conversations about property management

Any other ideas for dedicated channels for conversation types? If there is too much overlap in the above channels I would also love to hear your feedback. 

Thanks

@Scott Mac I live in the neighborhood. This property is right down the street. Very stable, popular neighborhood. I would say this is a B class neighborhood definitely. 

Thanks for the responses. @Bjorn Ahlblad, what do you see a fair price being? Willing to negotiate. 

From the posting's details, I'm interested in knowing your thoughts on this opportunity. This would be my first multi-family investment. 

https://www.loopnet.com/Listing/880-N-Highland-Ave-Atlanta-GA/14340662/

6 month deal.

@Brian Garrett thanks for your response. That was my understanding—good to confirm. So, would that be:

$16k up front and then 12% monthly interest for the duration of the deal?

If I private lend at a 12% interest rate and 4pts up front, what do the 4pts equate to?

Acquisition and refurb would be around $380-$400k total.

Note: this is hypothetical.

I wanted to provide an update. The house finally sold on May 16th for $525,000 to an all-cash buyer, no appraisal contingency. It came down to the wire and almost fell through thanks to the lackluster work of the project manager. All in all, negative experience; although, I did learn a lot and gained a few hundred thousand skymiles :)

Overall, as someone who desired a very hands-off approach, I did not find the flip process and its juice to be worth the squeeze. I also did not enjoy the investor / project manager / general contractor relationship.

I do not plan to do another flip soon but interested in getting into hard money lending.