All Forum Posts by: Kris Haskins

I personally love partnerships as I can share the work and not be responsible for 100% of the work. Just make sure you have the proper Joint venture doc in place. I have one for you if you need one, let us know??? You can record the JV against the house as well. I have done that so it's on record.

Hey Zach, there are several exit strategies we all use at different times.  Which numbers are you looking for and which exit strategy- WHolesaling, subject to, rehabbing, lease options, rentals,  can u be more specific so we can help you best????

hey noah, we all hv different training.  as for me, my bs is in audio recording...   but its very rare to find re development in a school.  id bet u could intern or get a job w a local developer and tell him ur goals.  he may help u.  i hv a friend that paid a builder $3k to assist him in getting started so i know some r willing to help others.  but remember their time is valuable..  ur gonna b great!!!  

hey jason i hv a friend that rents her house using air bandb and she has a cleaning company get her units ready 4 the next person so she doesnt hv to b bothered w too much of the turnaround.  maybe that could work here.. 

Good info @marc maxey. I had a mentor explain to me how Sdria's work. I set it up back in 2006 and simply did wholesales and co invested with myself and my IRA wholesaling as well. Putting in a percentage of every deal that I did. I only did one contribution at the beginning and have never done another contribution in 10 years. Also set up one for my wife as well as one for my kids and have been wholesaling and co-invest with them as well.... I guess if I had a secret it would be doing the co-investing. In the past I used to call it partnering with my IRA but I have learned that term is incorrect.

Hey dmitry, Why do you say in most cases $6,000 is not enough? I was instructed to open a self-directed Roth IRA about 10 years ago and I only had $2,000. Praise God I am able to lend as well as buy houses outright with my IRA today because of all of the wholesaling I did over the years inside of it. Oh I use equity trust but I'm not sending g out a recommendation.

sorry what type of loc do u hv?

tryn 2 help u but don't quite understand the Q.  What type of local do u hv?

I believe in order for us to help you the best we will need to know who is on title? I'm thinking you may be able to place a lien against the house for your money but needed to know who owns the house first

I believe we all will applaud  you for taking the step of even considering buying a house. I'd like to share with you a deal that I'm looking at now that may help u. Another new investor borrowed hard money and now the time frame is up on his loan, a six month loan. The investor called me to pay off his loan so the hard money lender will not foreclose on the house.  He also went over on repairs about $7,000 which he did not budget for. I pray that you learn how to use private money and do not have to depend on hard money. Hard money is a serious business and the lenders do not play or give too much leeway when it comes to new borrowers such as yourself.  Before you borrow money from a hard money lender I would highly recommend you have large amount of reserves just in case anything happens and you cannot sell the house when the loan terms are up and the lender wants extension fees, usually 1% of the loan.  I'm sure you're going to do great things but might want to wholesale this one....