All Forum Posts by: Philip Bashaw

Mahsa,

Try craigslist and list it as a T/K property (turn key) investment. If you use a realtor you'll have to pay a 5-6% commission. However, a realtor may run a CMA for you to help you determine a good asking price and you you might be able to build their commission into your price.

Full time investor seeks JV partner for a mutually beneficial agreement. You get the 60% and I get the 40% of the profits when the house is sold. I don't need any other compensation until the project is sold. I'm looking to do 3 fix and flip deals in the Atlanta market. I find the deal. manage the project , manage the contractors, provide basic labor and daily onsite supervision and labor as needed. I'm very handy and can do a lot things construction related. If necessary, I can design and install a beautiful landscape to help sell the property faster. Simple landscape adjustments generate incredible curb appeal.

Your provide the funding and your money management expertise and we share a nice profit when it sells. My target profit margin is 20% or higher on these flips. Therefore, you'd get a nice return on your money and we develop a good working relationship moving forward to the next flip. 

Example: A 140K ARV on a 90K total investment would yield an approximate 22K return (60% of profits) in 3-4 months after realtor commission and closing costs.

The main reason I'm seeking a private money JV partner is because the 15% rates that hard money lenders charge and the 5% points quickly erode the profit margins, especially if the house takes a bit longer to sell.

Please call to discuss further Thanks. 

Phil Bashaw; 404-557-0867

Thanks @Rick Baggenstoss!

My background is in landscape contracting and I may be able to help @Tim Lindstrom. Bamboo can be a problem, but it can also be a beautiful addition to the landscape and a very effective screen. Eradication is a lengthy process and expensive project requiring a bobcat, labor and several hours of hard work, if you want it done right away. However, it will come back if you're not thorough, like @Todd Whiddon said.

Cutting it back and keeping it in check is less expensive, but you'll have to keep an eye on it to make sure it stays where you want it to stay. Tim, I'd be happy to look at it for you if you're in the Atlanta area. It sounds like you have a timber type bamboo if it's up to 4" in  diameter. You can cut the poles and build some scaffolding for your next project! :-)

I can write more on this topic later if everyone wants to know some ideas and tips for control and how to get rid of it. It's Saturday and I have to get the kids somewhere...

Hello BP People!

I'm looking for investment property in 30032 and prefer brick ranches or split levels with at least 1300SF of living space

Hello,

I'm helping a friend out that wants to sell his house. He would like to get $70K for it and it's a decent 3BR/1.5BA and very close to rent ready. Drive by and check it out. Call me if interested.

Phil Bashaw; Atlanta GA

404-557-0867

Ha!

Rick, I think we are on the same path. I just subscribed to this forum recently and its been interesting and informative so far. I like the residential/commercial mix because you can cash out quicker on a SFH if you want to flip a rental. I'm pursuing that model over just strictly one or the other, at least for the next 5 years.

Hey Guys!

Personally, I'm looking to get my feet wet with a 12-20 unit apartment building in a desirable area of Atlanta where I live. I don't have 2 million dollars to invest, but if I did I'd buy one of these deals, fix it up, manage it, learn and then use it as leverage to buy 2 more buildings or 24-40 units. My first apartment deal is likely to be an owner financed venture with low money down; a distressed property that doesn't seemed distressed on the surface.

(I haven't been in real estate very long, but I do know that everyone has a different reason for selling. Sometimes people just want out. That's what I'm looking for.)

My plan is to own 400+ units in the next 5 years or sooner. I won't get there w/o experience or leverage. Most lenders, private or otherwise want you to have property management experience, especially if you are going for a super low interest commercial FHA loan. This is the route I plan to take, eventually moving into bigger and bigger deals.

@JohnWarren, I'd say you are on the right track. Stay close to your comfort zone, but keep exploring outside of it. Its more fun out there!

Derek,

See if they'd be willing to finance it and let you manage it and say you need time to evaluate the property and their asking price. 

Hi Jay,

I network with lots of investors and also know some commercial real estate agents. Is it 10-15 buildings or 10-15 units? I'm very interested in this deal, especially if he's willing to owner finance it. 

I'm busy all day tomorrow, but would love to discuss it with you in more detail. Part of my strategy is multifamily investing and if the deal is good enough, we can get funding. Do you know how to analyze commercial property?

Let's talk soon. I'm also in Atlanta.

Phil

Abhi,

I don't think you're the one I'm looking for for this venture.

Phil