All Forum Posts by: Melanie McDaniel

@Ari Bachrach $40 mil is the purchase price, so just net worth for the loan. We would raise the down payment, reserves, rehab budget, etc. by setting up a fund. 

My partners and I have been prepping to take down a large multi-family. We have an off-market opportunity but it is a lot larger than we planned to take down and we are beyond our circle of high net worth individuals. The opportunity is worth chasing, so my question is, how I we find someone worth $40mil?  Ha! Great problem to have I suppose.

Thanks in advance : )

@Carson Arthur sorry you can't make it! Congratulations on your rental in STL : )

@Nicholas Aiola, thanks so much for the response. I have no idea what UBIT is, but I will ask the GOOGLY.

Thanks!

@Christopher Steiner I know I can use my self-directed IRA to wholesale because my SDIRA would be on the original contract which is assigned. Can I send a finder’s fee to my SDIRA? Basically I found a buyer for a wholesaler and my buyer is paying a finder’s fee. I would love for my SDIRA to be the recipient of that. Thanks!

@Nicholas Aiola Wow! You opened a can of worms! I have a quick question. I know I can use my self-directed IRA to wholesale because my SDIRA would be on the original contract which is assigned. Can I send a finder’s fee to my SDIRA? Basically I found a buyer for a wholesaler and my buyer is paying a finder’s fee. I would love for my SDIRA to be the recipient of that. Thanks!

Hey Matthew! Aloha iā Norfolk! Thanks, @Jonathan New for the mention! Just to add to the usual Virginia Beach/Chesapeake, Ghent list, check out Larchmont (9/10 elementary in Norfolk) and Chick's Beach (@Rhett Z Begley lives there). Be careful with flood zones in Larchmont, but it is a great neighborhood sandwiching ODU between it and Ghent. There are some great pocket neighborhoods in all of the cities, but it is the "feel" I always try to get from people. Do you want to feel you live at the beach or a hip city? Do you want breweries or art museums? Do you like green nature or water? Word on the street is that the VA reno loan increased from $35k to $50k...

@Rhett Z Begley and @Joshua S. thanks for the mention! As Joshua said, first Monday of the month except when I'm in Spain : ) November is the 2nd Monday and Veteran's Day as well, so we will take a moment to celebrate our Vets (thanks for your Service, Shipmate) and eat some cake made by one of my core investor's wife who owned a bake shop in North Carolina before they moved here. We have a great group that shows us to the meetups and many of the attendees are doing deals together and definitely supporting each other. Christian Phillips is our next speaker. I had lunch with him just to make sure I liked his business model enough and he is going to be stellar! I know if it is far and on a Monday, but since it is a holiday, maybe it will be possible for you to make it?! I hope so! Good luck! People are asleep at the wheel right now and there are some excellent opportunities right there on the MLS.

Hello, Melanie!

1st Class Real Estate Resource Center

831 Seahawk Cir Virginia Beach, Virginia 23452

6:00-8:00 pm

See you there!

Melanie

Come and learn about property management--How do you find a good PM? What does a PM do for you? What are the landlord/tenant laws in Virginia? Property manager and real estate agent, Christian Phillips will be here to answer all of your property management questions! 

It is Veteran's Day so we will take some time to thank our Veterans and probably eat some darn cake!