All Forum Posts by: Philip Bashaw

I have a long term project in Fulton County GA and I am seeking a GC to partner with. This is a community that needs investor dollars as well as a licensed contractor to pull permits and build to code. Please have good subs at reasonable rates (remember, this is a potential partnership) so we can do repairs and not break the bank. Also, please have funds of your own to to do repairs, pull permits and pay the subcontractors. It will be helpful if you can do some of the work yourself and as well as directly managing the work being done. Currently, I have 2 units under contract with title work completed. There are more on the way.

Bad mojo from that mutual fund guy. I recently had a real estate broker tell I need to get out of this business because I was trying to buy his property at a big discount. Like someone else said "Everyone has their own agenda" 

Ignore the chatter and if the numbers work, show the guy after you renovate and sell or refi. He will probably just say you got lucky. Just use this 4 letter word: NEXT

If the deal is good, I don't see a huge risk for the lender putting up the cash. If the property is going to be really leveraged, that's when I would not expect a lender to accept the risk of putting up all the money (or any money). A deal I am looking at is one that needs work, but will have great cash flow after all repairs are done. Those are the kind of deals I look for. Good DSCR, Cap Rate and equity. I'm willing to a JV split too with the option of buying the lender out with a refi

That being said, I would like to know if anyone has successfully done any JV deals and bought out their partner and/or found the right lender to lend long term on rental properties

Phil

Hi Michael

I am interested in 100% financing to build a rental portfolio. Can we talk about this?

Hi Eric,

How did you feel about paying 6% and half of the cash flow? I'm looking at 100% financing on a deal and want to consider all options. Is there a chance you could buy your partner out in the future?

Has anyone used Done Deal Website for their own business? I am ready to get a website to attract motivated sellers and cash buyers

RENTAL OR FIX N FLIP

Looking for a cash buyer to close quickly. Make a reasonable offer

Here's a link to my CL Ad for more info and pictures:

https://augusta.craigslist.org/reo/d/are-you-real-cash-buyer/6576199269.html

Hey Everybody! Guess what? I am launching into a new area of investment with this big money client. He thought about it and doesn't want to waste his time and money on smaller deals so we are actively pursuing multifamily and commercial deals. He wants us to find him good deals 500K and up! 

It has taken a while to get to this point, but we are actively engaged in off market and 'on market' commercial properties. I was looking at a nice off market deal today in a busy Atlanta neighborhood. They want too much for it for it, but I'm a decent negotiator so we'll see how it goes.

One great bonus to this is that we have a guy that is willing to lend us money for smaller deals that don't interest him. So, this is looking to be a win-win all around! Thank you again to everyone that commented and made suggestions...good and bad. The good ones teach and the bad ones motivate me even more!

@Brian Singer

Still working on the super model ;-)

my partner and I are having our 3rd meeting tomorrow morning and I will expect a buying decision from some of the deals we have shown him already. We aren't even for much and do plan on taking it slow!

Thanks!