All Forum Posts by: Paul Fagot

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ADVICE! So for financing please anyone tell me or give advice on this thought. We have a private money lender and our thought is to get a loan for this property 100% (purchase and rehab loan) but instead of paying interest and a downpayment since we don't have the capital right now to be comfortable with that. The idea is to get the loan for the property but instead of paying interest and the down they would receive (example) 25% equity in the property and the money back from the loan they provided us. has anyone ever done something like this or have heard anything like this for a income property?

@Omar Khan i believe we will just be wholesaling this one..

@Dash Siva partnering up like as in with a lender? or an Investor with the capital for the property?

Will do @Dash Siva

The property needs work and the owners don't want to deal with it anymore. There hasn't been anything with the homeless at all.

The Apartment complex is vacant right now.. its eligible for section 8 here in red bluff.. Rent for 1 bedrooms $500 and 2 bedrooms $700-750 if you were to make some units 3 bedroom around $900-1000. We're planning on getting a second contractor out to check it out and get another estimate. Returns $20-24k a month. @Brent Coombs thats what we were able to find out

@Jordan Moorhead trying to figure out exactly how we'd get the funds but we do have a management company we'd go with!

Hello BP, Something has came to mine and my partners attention a day or two ago and were just looking for either help or advice! We have gotten in contact with the owners of a 36 unit apartment complex. (18, 2 beds 1 bath) (18, 1 beds 1 bath) it needs lots of work and comes with an extra acre i believe. ARV we believe is from $900-1.1M.

They want $460k and we also have a contractor we've been in contact with who the owners got ahold of and he says he can get the place up and running for $250k (with out hidden things like more permits or hidden issues) so we say with that, close to $300k. its right next to the freeway next to a Days Inn and a chevron. the location/ City its in is alright but low income area. The contractor explained to us that since the city is a low income area that the government would put or pay for peoples rooms/ Rent and could generate $22-30K a month. Also says he doesnt know why the owners just dont just fix it up and do that lol 

We are just wondering since this is the first big project that we've come across what should we do really? wholesale it? buy it fix it up and rent it out? or what? Any advise would be greatly appreciated! thanks BP!!!

bump