Question: I’ve found an investor who wants to sell their entire portfolio. I did the math on that and it’s about 700k down payment for a 20% down payment on a 3.4 million dollar loan on 45 houses. How would i propose and joint venture on this deal to get this deal done?

Question: I’ve found an investor who wants to sell their entire portfolio. I did the math on that and it’s about 700k down payment for a 20% down payment on a 3.4 million dollar loan on 45 houses. How would i propose and joint venture on this deal to get this deal done?


Jim Ingersoll: It may be easier to break it into chunks rather then taking 45 houses at the same time. Would they go for 10% down? You can find partners for debt financing or equity financing OR create a fund if you have the time.
Kairaba Dreamsonpaper Burson: I could only get bb&t to do 10%down on investment properties. But they go on income. Im sure she would let me break it out in chunks. I may call eagle mortgage to see how they can help. Or b2r, dwell. But my main focus was trying to talk to someone interested in making more return on their money outside of regular retirement plans. I NEEDED THAT IRA FUN CRUISE lol
Jason Bhattacharya: I agree with Jim Ingersoll — Finding a partner for that much money and that many houses may prove difficult. But if you were able to break it down– and pitch the different “packages” to multiple people — then I think you would get the deal done faster. Also, I BELIEVE that you have to have some of your own money in each transaction.
Kairaba Dreamsonpaper Burson: Thanks jason, i will certainly try that. I can bring some but its not enough to put a huge dent in the loan. But at least they would see that i have skin in the game
Lori Eubanks: Would you like to wholesale any?? Maybe structure those to sell first so you can put that money towards down payment?
Kairaba Dreamsonpaper Burson: Good idea Lori Michelle. Then i could cherry pick the ones i want. They all are rented except 2
Lori Eubanks: Are they in Richmond area? I’d be interested. PM me👍
Jason Bhattacharya: What market place
Jim Ingersoll: Richmond
Kairaba Dreamsonpaper Burson: What jim said lol
Jim Ingersoll: I know becuase Kairaba Dreamsonpaper Burson was at our last boot camp Jason Bhattacharya.
Jason Bhattacharya: You mean the one that I skipped? =) Won’t make that mistake last year … =)
Kairaba Dreamsonpaper Burson: Lol
Jason Bhattacharya: If there is a good equity position I may be interested… Not in a position to cough up $700k though.. There is an average price of $70k per house …
Kairaba Dreamsonpaper Burson: 77k on average. Im meeting with her. This week to run some rough numbers, see about pricing, conditions of homes (husband is a contractor) and seeing how much equity is in each property.
Jason Bhattacharya: Please let me know. Depending on the equity position, and rental values may be interested in buying a few..
Kairaba Dreamsonpaper Burson: Ok. She is estate planning for next year. She is “most likely ” getting out of real estate to retire and travel next year. That’s why im trying to work things out now. Are you interested in buying a few personally or jv on some? My original plan was to…See more
Jason Bhattacharya: Honestly, I’m not looking to JV at this time. I’m able to handle a lot of those items myself since I’m a Realtor and Contractor. I’d be a bad partner in my market LOL…
Kairaba Dreamsonpaper Burson: Lol!. Ok i will let you know what i find out
Rae Williams: Creative financing Jim Ingersoll has training on it
Kairaba Dreamsonpaper Burson: Thanks rae!

Leave a Reply

Your email address will not be published. Required fields are marked *