All Forum Posts by: Clayton Hutton

That helps a lot actually, thank you very much.

Hello everyone, I was wondering if anybody else has experience with this. I am currently talking to a lender, I want to go in LLC route. He is saying that even if it is an LLC, anybody who puts money into the LLC has to be on the loan. Is this normal?

@Jeff Schechter,

   Sorry, the numbers were more for a glimpse at how they layout their pitch. I prefer to do buy and hold, but I'm not against a flip. I have an agent I've been talking to for a little while who works with investors out in that area and will work with him at least to start. I stumbled across these guys a while ago in the forums, and their deals looks pretty good, almost too good, but that could just be my inexperience. 

I listen to the podcasts quite regularly, but once I started trying to put everything in motion my enthusiasm might have run away a bit. So I've been trying to get feedback, guidance and maybe find someone who's done this before. 

This first flip I'm going to aim to use hard money, so I am definitely in need of getting an entire plan ready.

Thanks for the feedback, and direction,

   /Clayton

do you have any direction on where I could find information on where the neighborhood is headed in the next 5 to 10 years? This would be my first deal so, definitely don’t want to mess anything up. Or get too over excited and leave out important pieces of due diligence

Hello fellow BP members,

I am looking at a group called circle city homebuyers, they look to offer a few things (wholesaling, and lending to an extent). They have some seemingly good deals, but I was wondering if anyone out there might have worked with them before. They have a nice breakdown of estimated rehab costs, and expected ARV (images below). Can anyone point me in the direction of some great questions to ask, ways to research this on my own as well?

Thanks for your feedback!

/Clayton

Hello BP,

    I have been looking into Duncan, OK for a while now since I have extended family out that way. However I have been trying to locate a property manager out in that area only to be met with a significant amount of 1 star reviews from google. Does anyone happen to know of a property manager in that area that they could recommend?

Thanks, 

   Clayton

awesome. Thanks for the ideas everyone.

Hello fellow BP members!

I am making my way through the baby steps of investing in real estate and was looking for some feedback or ideas where I could find information on private money terms. I have a few friends who are interested in investing in Realestate to some degree with me. They are more on the time poor end, and are interested in just providing the cash for the deal. 

Is there a general rule of thumb on what is considered a fair way to split a deal? Say if they come up with the money needed for the down payment and rehab but I took care of all the leg work, would that be something worthy of a 50/50 split or is like a 70/30 - 60/40 more likely to fit that bill? It would be with friends, so I want to make it a fair deal.

Thanks ahead of time for any info, ideas and thoughts,

Clayton

Bummer, I'm actually headed out to Vegas on the 10th. Definitely interested in the next one. Really interested in talking to people who've done out of state investing.

@Alina Trigub, while I’m thinking about it, what would be considered passively investing? Is that more playing the role of bringing the cash to the deal?