All Forum Posts by: Shawn Ward

@M Falcon we traditionally only do a set interest rate, but if you did do a %, basically, whatever their investment is as a % of the entire cost of the project (purchase, holding, rehab, misc, tax, etc) should be their ownership of the deal. 

Then when you sell, they should receive that equivalent % amount of the profits. 

All the best!

sjw

@Barry Hinds a HML will finance usually 80-90% of the acquisition and 80-100% of rehab.

1. For acquisition, you'll need to bring 10-20% (plus closing costs) to the table. The ONLY way you will not use your own money, is to have a PRIVATE INVESTOR finance the 10-20% for you as an investment partner. But, the money will have to come form somewhere.

2. The rehab, even though 80-100% paid by HML, is a REIMBURSEMENT. Thus, you'll have to spend money first, say $40k, then ask the lender to reimburse you. They'll send an inspector out to make sure you've done the work, then reimburse you for the amount you guys agreed upon.

All the best!

sjw

@Nick K. 2019:

1. Lower cost of financing for flips

2. Get better acquisition prices since market has softened for flips

3. Buy vacation rentals

4. Making entire business model more conservative for projections, timelines, etc

@Titus Alexis yes..your best bet now is to go into a Seller Financed deal. Get her some money down as much as you can. Then pay her monthly payment. Maybe she can give you 2 years of terms, and then you can get your credit together and do an outright purchase in 2 years. 

@John Hilton post your need on Craigslist. They are always looking there. Make sure to get referrals and images of their work. 

All the best!

@Shawn DiMartile your best bet is to post on Craigslist. That's where I find all of my sub contractors. Get referrals and images of their work. 

@Christina Curl 

1. I've bought 7 homes in 18 months and 6 were from wholesalers. Best way to buy. They do all the lead generation for you. Just let them know what your max purchase price is.

2. Find them on here and also via LinkedIn. Search 'real estate wholesaler'

All the best!

@Jose Amezaga DM me with specific questions and I'll help any way I can. 

@Stacy William your best bet will be to present your plan to friends & family. If this is your first deal of course. If so, they are the ones who believe in YOU more than the numbers. 

All the best!

sjw

@Loni Anderson considering Brentwood is a nice area, I'd estimate it would cost around $110/sqft, so I'd use that as an estimate to get started. 

After that, get a few contractors to walk it with you and that will allow you to hone in on the final number. 

All the best!