All Forum Posts by: Catherine Decker

Hi BiggerPockets Pro Peeps!

I have a SFH under contract in Vallejo, CA. Am in counter right now and, the finance partner I found this property for, decided to use his money to try to buy a different property. So...I now have a finance opportunity available in one of the hottest markets in the country!

• House is a 3/1 - can convert to a 3/2.


• Purchase price is $225,000


• ARV $325K - 350K


• Rehab is $40-50k


• ROI likely is 30 - 35% (on your investment)


• Have a loan ready (but would really like to find less expensive financing)


• Have crew ready to go.


• My sweat equity, your $$, we split profit
Have already managed a couple of flips in Vallejo and Fairfield and have a couple of other projects in the works, so my capital is tied up right now.

Interested? PM me. I would love to hear from you.

This is a nice opportunity and not easy to come by.

I haven't used any of their attorneys, but I have used their forms for JV's and promissory notes.

Cheers,

Catherine

I found a pretty easy form on upcounsel.com that I used for a couple of joint ventures. Slightly different structure from what you are describing, but still straightforward.

https://www.upcounsel.com

Hope that helps.

Cheers,

Catherine

All wonderful and thoughtful contributions. THANK YOU!

I plan to call an attorney and am appreciative of the referrals offered. I will do nothing before calling a lawyer and he/she may tell me do some of what has been suggested. 

I have to say that I am heartened and grateful for the participation in my conundrum here. I don't know where else but on BiggerPockets that I could have received so much expert and/or experienced advice.

Gratefully yours,

Catherine

Thanks again, @Account Closed! I will look him up.

Yeah! Thank you, @Andrew Li ! I suppose I should have just asked for a referral in the first place. The discussion has been super helpful, though, so I'm just as glad.

Thanks, @Account Closed. I have been putting out feelers to the "Tiny House Community" as the property is perfect for a couple of them. Just the right type and I think they would do nicely as "eyes".

I have a rental property in Sac and it cash flows really well, but I bought it for just that purpose. If my property had appreciated as much as you say yours has, and only cash flowed $100/month. I would sell in a heartbeat and reinvest. My 2 cents.

@Account Closed That is super helpful. Thank you. I have the same misgivings about the signage.

I also had mixed feelings about introducing myself, though it seemed neighborly. The guy who was cutting down trees was pretty proprietary and the surrounding neighbors are pretty curious about what is going on at the "haunted house".

Anyway - so appreciate the discussion. It has helped. I would pay for "lawyerly advice". I just don't know any real estate lawyers here in CA! Was hoping to find one. If you know anyone, would love the referral.

Cheers.

Ah @David Dachtera - we don't use attorneys for closing here in California. We use title companies. I'll see about if they have any info - though I doubt it.