All Forum Posts by: Phillip Marshall

@Zackary C Dunn I see you sneaking on my posts. Hope you're doing well man. I haven't asked that but I will. 

@Erik Estrada, The terms for the 250k are 30 year, 7% interest, 5 year balloon. They are giving the large amount of cash to use for a deal, I wouldn't be able to get the financing for example on a 800k deal without their cash. However, they do not want a second position for their money. They have no problem using it to outright purchase something for 250k or under to be first position. 

@Andrew Bang, Thank you for the info. Any certain terms that should be in the deal deciding when to refinance them out?

Ok, so I have my first private investor who wants to lend up $250k for me to do a deal with. I'm thinking I can do a BRRRR with this cash/flip. However I have some larger opportunities such as a triplex for around 500Kish. The investor does not want to be on a second position for lien. Is there a way to structure the deal where they are on the deed and I can refinance them out at some point. How can I make this make sense for a larger than $250k deal while also putting them at ease or should I just stick to a smaller BRRRR? Can anyone share creative ways to get a deal done with this money?

Ok, so I have my first private investor who wants to lend up $250k for me to do a deal with. I'm thinking I can do a BRRRR with this cash/flip. However I have some larger opportunities such as a triplex for around 500Kish. The investor does not want to be on a second position for lien. Is there a way to structure the deal where they are on the deed and I can refinance them out at some point. How can I make this make sense for a larger than $250k deal while also putting them at ease? Can anyone share creative ways to get a deal done with this money?

Congrats on your first deal Caleb! The first one is always the hardest to make happen. Welcome to the STR family!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $630,000
Cash invested: $63,000

This is a Househack/STR multifamily. We moved into this to live at the beach and house hack. 2 of the units we are turning into STR's and once they are up and running our cashflow should be around 3k a month while living here and somewhere around 5k when we move out.

Hey Esther! Congrats on your recent purchase! Let's connect!

I'm from Jacksonville and currently live in the Wilmington-Carolina Beach area. If I could make a suggestion on areas it would definitely be Wilmington and the surrounding areas. Many people are moving here and Wilmington is growing rapidly. If you want to dive in deeper lets connect on here and we can discuss. Best of luck on your real estate journey!

I agree with @Carolyn Yates on this one. From my experience in the Wilmington market that is exactly what I am seeing. I'm a local Realtor and Investor in Wilmington / surrounding areas. Would love to see how I can be of service and talk through your situation more @Sanjai Dayal!