PonyFans.com

your secret is safe.

too bad I am a vagiterian

tempting, but i'll keep the thread alive instead.

Going through another list of bank owned assets. Lots of crap on the list. Did close on a project Tuesday.

was that a good derail, of the derail, of the initial derail?

yeah, anything good. btw, you be interested in a res. land deal in McKinney? i have no involvement or interest in it, just something a friend showed me that is out of my realm. i can send you some info if you want to take a look.

it's just a money play though. developer is in place. builders in place. etc.

I am buying residential dirt that has finished or partial finished lots with excess dirt. Too difficult to get a development loan right now, so I sell the finished lots to pay down note and have no basis in excess dirt.

Dutch wrote:it's just a money play though. developer is in place. builders in place. etc.

Not an investor, I work with all builders and act as the developer

deal already has financing at 50/50 from fidelity.
they are just raising equity (1.35MM) in $100k minimums.
10% pref, 60/40 to the good after equity+pref paid. projected IRR of 22.35 and cash multiple of 1.77xinvestment.

Dutch wrote:deal already has financing at 50/50 from fidelity.
they are just raising equity (1.35MM) in $100k minimums.
10% pref, 60/40 to the good after equity+pref paid. projected IRR of 22.35 and cash multiple of 1.77xinvestment.

Just say no to limited partnerships

hey, i'm not investing in the deal. i put my money in dumber things then that. like restaurants/bars.

and i agree with your sentiment about LPs.

LPs are what are enabling me to buy discounted notes

smupony94 wrote:LPs are what are enabling me to buy discounted notes

there are a few other factors that led to this point though.

True, but the one I just picked up the GB used funds to pay his alimony leaving the LPs screwed with no cuddling or courtesy reach around