All Forum Posts by: Yia Her

Move on to the next contractor. And yes he pulled a fast one on you when he charge you $150 for the same verbal bid when the written bid is no different.

@Christopher Morin thanks.  I was just going to ask my title/escrow officer.  Thanks again!!

@Jed Gwynn  Numbers look good.  Let me chat with my partner investor.  Thanks 

I am looking to see what forms and documents to use when borrowing money from a private investor.  I have a few private investor willing to lend their money on a deal that I am working on.  I will need to secure their interest onto the deed of trust but need help with a document that can get this done.  We have already worked out the terms and agreement on the money lent.  Thanks for your help.  

Scenario:

Purchase price: $185K 

Rehab: $30K (my contractor and I est. $25K) 

ARV: $295K

My capital invested: $125K (I have additional rehab capital of $50K)

Capital Funds needed: $60K on 12% 

Turn around time is: 90 days max.  Properties are moving off the market in 5-7 days.  

Thanks 

I would still say great start. Even though you bought at little above 80% ARV, your in it all cash and so you can at least pull some money a lot of your money out. Your cash flow maybe less than what you projected however, the brrrr you want to apply will allow you to move onto other opportunities. Good luck on that one. Shop around - maybe be creative and find some private investor who may just want to finance and collect monthly checks from you.

@Amir B.  Good to know.  Good luck on that offer.  

Thanks @Chris Kirk.  Mind if I keep your contact for future property managements.  I am looking to acquire 3-4 homes this year as rentals.  

Hi Amir, you seem to be actively seeking properties in or around this neighborhood. First off what is your goal for this purchase? As far as this neighborhood goes, it's oak park. Oak park is up and coming therefore it'll take time. I would rate this location C as for rentals. Couple street over on other side of broadway and over the freeway into Curtis park are upper end areas. As a realtor/investor, this location with this price is at a retail. Good luck. Yia

Al Williamson thanks for the heads up. Your podcast with BP was one of the first few that I have listened to. I've been waiting to join one of your meets and really lock down some key land lording and investment strategies from you. Definitely will mark this on my calendar and hope chat soon.

Welcome @Andy Thao.  Nice to see a fellow hmong.  Meet ups are great way to network, get yourself surrounded by like minded folks.