All Forum Posts by: Reggie Maggard

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Seller financing options are always interesting for me personally, things can work well for both parties. If I understand the question. Where in the midwest?

Are you planning on using the equity to invest in real estate? If so, shop around and use a HELOC to pull that money out and use as you please. Just straight refy to lower your payment is going to cost more and increase your loan amount. Its up to you, but ask about the 'hidden fees' if your unsure of the math.

 Im looking to create a limited partnership and I wanna know what kinda term to offer. What is 'competitive'? How long until I have to buy them out? What rate? Do I have to offer any extra pieces of the pie above those terms? I would like to offer 8% interest only paid quarterly for 5 years and nothing else. Im starting to get the impression that may not be enough.

I agree with what you say in your post in regards to tenant vs landlord. I put everything on my tenant that occurred because of their negligence...clogged pipes because tampons, garbage disposal because of carrots, etc... Carpet is a tough one a lot of times unless its just burned or something. Holes in the walls always get put on tenant. Its your call, the judge will let you know if you are right or not.

Looks good. If I may ask, what is your comfort level that the law won't change tomorrow and STR's will be banned?

Im trying to find out what competitive terms look like, specifically the KC market but I would like as much input as I can get.

@Justin R. Ok so, in order to be competitive, o gotta offer more? 13% and possibly a piece of the property?

I am in the process of upscaling my business. I have worked as my own property manager for a bit now and I officially have my 'system' in place. So now I want to 10x this business. This is where using other peoples money comes into play. I feel good about hunting down the deals on these bigger multi-families, but have some questions about the cash.

I would rather use outside money sources than friends and family. I want to basically borrow the 20% dp through my llc, purchase the property, manage, value-add, etc..., then refinance 3-5 years down the road and buy out partners. Im thinking the terms are...least control legally possible by limited partners, and 8% return on their investment, 50-200k investments. Interest paid quarterly. At the end of three years, they get paid at least half of original investment and at 5 years they get anything remaining. But how do I find these people? I know their are some legalities involved.

Thanks

 Ok so just to be clear...Im thinking 8% cash on cash return paid out quarterly...at the three year mark they get their full amount invested out...does that still require sec regulations and a 10-20k set up price?