All Forum Posts by: Matthew Gagnon

I’m investing in Odessa Texas or west Texas if you prefer. I have a deal and need to find additional limited partners. (Two of the originals dropped out) Am I able to solicit on BiggerPockets to find investors or is that a big issue with the SEC?

@Nader Mezher

If you’re just looking for an RE attorney, Jimmy Peacock is in Odessa. He is extremely experienced.

@Nader Mezher

Find Matthew Moreland, he’s a commercial agent but he works with a lot of investors. He also has ties to midland if you care.

@Isaac Johnson

I’m on your side 100% however...

“If you argue with a fool then there are two”

-Doris Smith

@Wayman Docks

If you're looking for a 20/80 split you won't find it in hard money. Private money or a portfolio lender would be the way to go. However 50/50 split is out there in hard money if seller is willing. Additionally you may be able to structure the deal a bit differently ie a master lease option (see Brandon Turner's article) or y'all could set up the deal where the property gets put into an LLC or similar entity that both parties are members and "refinance" the property 70-80% LTV to buy out the seller and have a promissory note for the remaining percentage of the purchase price if any.

Note: 70-80% LTV will be based on the assets current value and not necessarily the "purchase" price so you could possibly get 100% financing this way.

Doing it this way will require a solid operating agreement (if it's an LLC, bylaws if it's a C Corp etc.) so it's best if you seek out a qualified attorney for legal counsel as well as setting up the entity.

@Emerald McGinnis

Unfortunately I don’t have a CPA in Odessa Midland mines in Monahans. Have you read tax free wealth by Tom wheelwright? It will open your eyes and allow you to have a more intelligent conversation with your eventual CPA. The book includes a chapter on finding and screen CPAs.

Hopefully helpful,

Matthew Gagnon

@Scott Lang

Hello Scott,

I’m currently living in west Texas, unfortunately I cannot tell you where to go from here other than towards the more metro areas of Texas i.e. DFW, San Antonio and Huston areas. Those areas have an estimated 50% population of renters.

Kind regards,

Matthew Gagnon