All Forum Posts by: Samuel Fletcher Hardy

@Christopher Winkler

Thank you for taking the time to reply!

With multiple parties on the sale side of the deal do they need to be combined in an entity of some kind or is it several small loans? Then position of the notes come into play.

Hey guys, I am working on a deal where the owner has passed away and her 7 children are looking to sell both her home and her commercial building.
I want to bring up owner financing but am not sure what that looks like with multiple parties on the lender side of the table.
They are all motivated to sell and move on but none want to pay capital gains tax. They have also mentioned it would have been nice to have the rental income.

Thank you for your time guys!

@Jon Hill being from alabama originally I have bit of an advantage just by knowing the area and the people there so it's a little bit of a no brainer. And I am new to wholesaling, the reason to get into it is in order to find and get the best deals where I live I have to be just due to being such a highly competitive market. And alot of guys where I live wholesale but they call out the county Kitsap vs calling out the individual towns. I am building separately lists websites and letters go try to customize to the seller as much as I can. It's alot of upfront work but that combined with a few other things I am hoping will make me stand out as a more personable person trying to add value.

@Patti Robertson the ones I am thinking about are vacant. There also probably not financed at least not traditionally due to the shape of them. And the individuals who own thems mailing address is a $750k+ house in seattle.

1. Buy first out of state property(Florence Alabama)

2. Close on 2nd Triplex and BRRRR

3. Finish setting up wholesaling funnel

4. Continue to cultivate private money

Hey guys!
I am in Kitsap WA and have been digging deep into the tax records and I noticed a large amount of investors from Seattle(an hour ferry ride way) have purchased distressed properties in 2012-2017 but didn't necessarily buy at a number that makes sense when you factor everything in for a flip or even to get it to rental quality.. And so they sit..

Am I jumping the guy buy assuming these are other investors? and now that I have identified the pain point how would you guys approach solving it? 

Thanks again for your time!

Welcome to BP! I am in Kitsap, Feel free to reach out anytime and we would love to have you come to a networking event we have several every month! Biggest advice anyone has given me is take small actions daily to move forward.

Hey guys so I'm working on my second deal and it's my first exposure to private and hard money. I am looking for all the advice or book suggestions I can get!

The deal

It's a 1200sqft(total) triplex

2 of the units are 1bed 1baths

1 studio.

The rents are at $350 a monthish and the market is at $900 a month minimum each.

I think I can purchase it around the $120,000 mark it needs a full rehab I estimate it will take $65,000. I am a licensed contractor so I plan to get some sweat equity. ARV is a minimum of $300,000. I own a triplex a block away that just appraised for $375,000

I have started looking at hard money loans but dont quite understand how interest only works.

I am also talking with a private investor that is interested at a 10% interest rate on a 6 month note.

What questions am I needing to ask and missing?

Thanks in advance guys you guys rock!

Hey guys I have a triplex in the middle of port orchard wa that I am house hacking!

Our goal is to create $60k in equity the property definitely needs the work it's been neglected for the past 8 years.

I am a contractor with tons of remodeling experience and the finances to do most any work but how do I know when enough is enough?

Obviously we dont want to do granite counters but should I do tile backsplashes. I refinished the oak floors that were under the carpet.

(was cheaper then doing anything else)

Hey guys I'm in washington state and wanting to start mailing to find off market small multifamily owners who may want to sell.

Is there a service out there that offers a mailing list like this?