All Forum Posts by: Mark Shaffar

@Nathan ChampionWelcome to Bigger Pockets! It will change your life

@Matt M.

 you might want to try @Brie Schmidt

 She's based in Chicago

@Alex M.It kind of depends on what his expectations are. You can find a place that you think might go up in value but has decent cash flow even if it doesn't. That keeps you happy, but if he's expecting large cap gains you could be in for a strained relationship. It's super important on a JV to have both parties having the same expectations.

@Bruce FaulkYou could just look at a cheaper buy and hold. Some banks go as low as 15% for a non owner occupied. There are plenty of rehabbed turnkey rentals for under 80k in the Midwest

Funny, Thanks for sharing!

@mike cury Welcome to BP! It can change your life.

@daniel

Way to go facing your fears! I've enjoyed getting to know you. Not easy investing across oceans and building a business. Good job.

Mark

@Charles Worththanks for the helpful input. I had heard that too about LLCs not being compatible for conventional financing. My banker hadn't mentioned the due on sale clause if quit claiming to an LLC later. Super helpful for pointing that out. Thanks!

@Leonid SapronovSome banks want a 6 month seasoning, you can avoid it if the property title is in a 3rd party name during rehab and then purchased by you after tenant placement.

@Ahmed Porterthanks for the call. Let's keep in touch!

@Leo B.Thanks for your help! Looks like you have it right @Leonid Sapronov

 factor in another 2k for closing costs though and 1k for carrying costs (lawn care and utility bills). These are conservative estimates and don't go to us. The remainder is refunded back to the investor.

As far as appraisals, we are usually plenty under on cash deals. Most post rehab deal appraisals are coming in right at ARV. Sorry, not much built in equity. We focus on cash flow.