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Hi all,

new to the forum but not new to prop investing. Been developing* new build these past years now looking to get back to flipping some house full time again. I like to have 4-6 on the go at one time with a limit of 4 months. Usually work off 20k net each one.

Any body who would like to talk about anything future PI get intouch

Jim

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Welcome Jim!

4 or 5 renovations and sales going on at one time. You must be a busy guy!

You get your hands dirty yourself or is it better to delegate with multiple projects on the go?

:wub: Get Mortgage Advice from my Team at Bespoke Finance on 08009202001 or email hello@bespokefinance.info 
:ph34r: 
Please don't take my messages on Property Hub as Personal Financial Advice, just a rambling guy passing time on a Coffee Break.
 

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On 11/10/2019 at 9:27 AM, investwithjim said:

I like to have 4-6 on the go at one time with a limit of 4 months. Usually work off 20k net each one.

 

welcome Jim.

so I understand better, for clarity, I have a few questions that I trust you could answer, such as more info of your proposed business model?

'invest with Jim', does this infer that you are the 'money man/banker' or the 'contractor' or 'property finder' maybe a bit of each?

you've mentioned the net shared profit, but how do you work out the actual investment part with your JV?

what-if the investment  is one of or either 50k, 100k, 250k, 500k, do you still stick with a 20k net off each one after including any of the costs associated with buying & selling a B2S , such as SDLT, legals, valuation, survey, mortgage or not, plus of course the full reurb costs, selling & closing fees or other costs?

 is your model based on certain type of property .... flats, terraced or what & what about the price of properties, do you have a range min-max?

do you have a legal team, mortgage broker & construction team in place or are you wanting your JV to be just the hands on/contractor(s)?

Thanks & look forward to seeing more posts from you

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2 hours ago, investwithjim said:

I believe I answered these questions in a pm to you. Or most of them. @REinvestor

don't think you did - you did a high level, no details, that is why I asked on the forum, that with further details or explanation how you JV that you may post, it could possibly draw out interest.

Jim again a request in the following to fill in some blanks... thanks

OK, so maybe its me, the fact that besides being over 70 years of age (72 to be exact), that I am so slow that I cannot get it or read between the lines, so please excuse my senior moment together with so many questions about how you JV!

- are you just the money guy?

- are you a hands on?

- why do you use 20K, especially if its a B2S that is 100k, 200k, 500k or more?

- 20k on a 100k or a 500k property (where is the comparison on money at risk to that 20k return you speak of?) even when you add in all the added in out of pocket start -up & selling costs, legals etc, that's without the refurb costs - which BTW, are you funding the whole project including buying the property, getting the mortgage, paying all associated fees, part funded, does your JV have to fund also ... ?

questions only lead to more questions, when there isnt any detail.

do you have a website?

do you have a list of completed or in process projects like the guys that post on the progress thread?

how do you compare yourself to others offering JV's why is your offer different or better?

there are tens, maybe hundreds of folks looking for JV's offering 10%. Your model speaks only of 20k - which does not equate to any value as far as to a property price or associated costs including the furb ... who in your JV pays for what or who does what in the JV?

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I usually work off 20k , meaning my net after everything has to be a MINIMUM of 20k. I do not aim for that, of course I go higher but when I’m looking at a property that’s what I will work off. The lowest I havever made net on a property is 23k on a 50k purchase. i have just completed a new build project (waiting change with clients) south east of England of 5 detached properties. That if for a build for my personal home in the Yorkshire area.i buy a mixture of cash and mortgaged property, some times even bridging finance.i have not got website no and have no social media. This is the first site in 25 years I’ve wrote on regarding property. Obviously I use emails but it has stopped there. I will get some pictures uploaded of m6 work in th3 coming days.Those who are offering 10% are not for me. Why do I want my money to work for somebody els3 and line there pocket# when I can do it myself. I’m looking at 50% JVs yes but everything split down the middle fairly.  Less anybody has a model they put to me.im looking ASAP to get up to five flips going at once in the next couple of months

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I still cannot get my arithmetic right, you mentioned "23k net on a purchased 50k property"

appreciate how you would work "your "model' based on "my model' of my purchase of a BMV property for 100k that is salable at market (last solds in 2019) approx 160k for the exact same property in good condition in the same street.

The 100k property bought at auction was the price that included auction fees, is really bad, need lots of work, possibly 20k of refurb to get it to the 160k market price.

can you work the numbers on this for me on a shared pre-tax net 50/50, after all fees & costs?

is this a workable deal?

if not, then what price point do you need to see between BMV & market selling price to get you your minimum net net pre-tax 20k each for you & the JV?

what is your investment in my model & what do you want me to do as part of the JV?

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1 hour ago, REinvestor said:

 

appreciate how you would work "your "model' based on "my model' of my purchase of a BMV property for 100k that is salable at market (last solds in 2019) approx 160k for the exact same property in good condition in the same street.

The 100k property bought at auction was the price that included auction fees, is really bad, need lots of work, possibly 20k of refurb to get it to the 160k market price.

can you work the numbers on this for me on a shared pre-tax net 50/50, after all fees & costs?

is this a workable deal?

if not, then what price point do you need to see between BMV & market selling price to get you your minimum net net pre-tax 20k each for you & the JV?

This ^^ seems a suitable reply to....

 

On 11/10/2019 at 2:27 PM, investwithjim said:

 

Any body who would like to talk about anything future PI get intouch

 

This ^^.

Yet...when the question is asked you get...

 

32 minutes ago, investwithjim said:

What is all the grilling for? 

Jim, can you make your mind up...do you want people to discuss deals with you or not, because I'm confused.

Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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Valid point both @snookjas and @conrad_paton I do apologise. But if somebody is interested in a JV with myself i will speak with them Via PM.I am ready to go with any genuine possible partner. so get in touch and rather then prove myself on a public thread i will prove to them the success iv had in recent years and want it to continue.i will make a thread when i get around to in with before during and after pictures of some of my projects for you all to see.

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