All Forum Posts by: James Evertson

Bumping... Anybody have information on this???

My wife and I are looking to flip 1-2 projects in the next year. The goal is to raise capital (and build resume) for larger projects in the future. I have real estate experience, which includes spec home building, but will be forming a new entity here.

I'm looking for a line of credit for my business for short term needs, preferably unsecured. I have solid credit and strong income, and willing to provide a personal guarantee. I've researched online, and found an SBA Builders Line of Credit, which looks like it may be similar to a 7(a) in terms of qualifications.

Does anyone have knowledge or experience with this product? Or does anyone have other suggestions for a small line of credit ($50-200k) for a business that technically is new. Don't need recommendations pertaining to personal credit-I'm specifically looking at business credit. Thanks all

@Mike Vann Well done. Could you keep us updated on the progression of your deal as you rehab?

@Pierre Decoste You might consider the debt side getting started. Some analysts to do a few years, get their feet wet, and then transition to a role in acquisitions.

@Sanjoy V. I do Fannie/Freddie lending and my suggestion would be to sit down with your partners and discuss bringing in a gp with meaningful mf experience in the asset class and business plan. This could accomplish several things. 1) if they don’t like the deal, that should speak volumes to the quality of the deal. 2) a seasoned gp should help lower risk of mismanagement (both at property and asset level) 3) you’ll learn a lot being actively involved 4) you’ll build out your resume for future sponsorship 5) you don’t want to give back the keys on an agency deal. Although non-recourse, they have long memories. If you do this, just make sure you have a strong operating agreement and structure your waterfall right. Maybe your returns aren’t as great on your first deal, but wealth of knowledge and build for future.

Yes on wear and tear, and the CS market is pretty soft right now. Lot of new multi family supply. I moved my son into a 2/2 class A $490/bedroom all bills paid that offered a $700 concession To him and same to roommate...

Thanks. Does anyone else have recommendations they will share?

Howdy,

The wife is finishing her classes for her real estate license for purposes of our investing. We're looking for a brokerage that has no sales goals/quotas (or 1 sale/yr to maintain active status), no or minimal monthly fees, flat fee, no expectations of meetings or working from an office, but enough of a presence to answer basic questions as needed.

If you have any folks you'd like to recommend that meet all (or most) of the criteria above, please share. Thanks

Any luck w/ this. My wife is also looking for an investor friendly brokerage.

Did you have any luck getting a response here? My wife is finishing up her real estate license for the exact same reasons and we're looking for a broker. Thanks