All Forum Posts by: Ronald Garry

Thanks a lot guys for the comments. It was a big help. I'm definitely not into spinning my wheels, so this beginners information will go along way in my early stages. Enjoy your week.

Thanks a lot guys for the comments. I appreciate it. I will take them all into consideration. Big help.

Hello BP,

After reading the beginners guide, I realize it is important to assemble a great team as an investor. For new wholesaling investors, who would be the most important team members to create relationships with if your niche is only wholesaling? Common since tells me I will need a mentor, title rep, attorney, ect. I don't see the need to have contractor or property manager on hand if I am selling to someone who would be rehabbing and flipping a property. Although I know building those relationships would only help me in the future. My main focus now is only on the key team members for the niche i've chosen. Please correct me if i'm wrong. Thanks in advance.

Thanks for your responses. Yes, my friend is will be using their credit to get the financing. Im working on improving my credit and would like the lowest interest rate possible. I am 40 points short of the financing requirements and would like to make this deal because I have some capital. This would be my first deal and I don't want to pass it up because of the financing hurdle.

Sorry Jon for the wording of my question, but thanks for the correction. If a second party helps finance a property, but does not put any money down for the property, what would be a fair percentage to give them once the deal is complete? Example, there's a property in my area that's selling for $30k with an ARV of approximately $42k. A friend is willing to help with the financing without putting any money into the deal. I have the 10%-20% to put down on the investment and I will be taking care of the repairs. What would be a fair percentage to pay my friend after the property sales, assuming everything goes according to plan.

GM BP,

Quick question, If you can't get financing for a property but you put down 100% for the investment, what percentage would be a reasonable split between yourself and the second party that helps with the financing of the property?