All Forum Posts by: James Vermillion

Where does a private money loan (from a friend/associate) play into this? A loan differs from a sell of securities, right? With a loan you are paying back the funds based on a pre-determined interest rate...does that make it different from a security?

I ask because I just had a family member and a friend agree to loan my LLC money to purchase our next property.

Come on Mike! Just kidding, I don't mind the discussion at all. Thanks for all the replies.

Bryan, that is pretty much the plan for now. I was just seeing what some other options might be.

Ron, we invest in KY.

Will,

I guess I should have included some information about funding the first property. It is a loan from a community bank that we put 20% down on. It includes $30K for renovation draws, of which we will use approximately $22K.

All,

I am going to provide some additional information. Both of us have credit scores above 700, a combined income of 120K+, a business plan, etc.

The current project is scheduled to go on the market the first week of February. I can provide information about this property (renovations, ARV appraisal, etc.)

Our limiting factor right now is cash to put down on our next property (we are on a time frame so we can become full time investors in mid-2012). Are there any interested passive investors out there?

How have you dealt with having cash tied up?

Thanks again,

James

Thanks for the link! I will be reading through this. I am reading the Intelligent Investor by Benjamin Graham right now and I am betting these letters will supplement the book nicely.

Greetings,

My business partner and I are currently rehabbing our first home. We are about one month out from completion of the project (under budget and ahead of schedule) and are currently looking for our next house (potentially a rehab flip or rental). We are looking for a short term (3-6 month) loan to allow us to close on another loan while we complete the current property.

I am working some other angles right now but I am curious as to how others have dealt with this issue. The numbers are looking even better on our current project than we anticipated.

Thanks.

James

Happy New Year everyone! Time to go smoke a cigar!

I think J brought up an important point when he added risk to the equation.

Bryan, how much did the author discuss risk when talking about time vs profit? I ask because I am willing to put a lot more time into an investment to significantly lower the risk. If that weren’t the case I would just put a bunch of pink stocks on a dart board and start throwing to pick them...that would require very little time and could potentially return huge amounts of money, but I will never do that because of the risk involved.
I also attempt to estimate the hours I spend investing in real estate (although I am sure I underestimate) to make adjustments to my strategy.

Wayne,

Please PM me with any information you can provide with any properties in Central Kentucky (I am specifically looking in Lexington).

Thanks,

James