#017: See How A Deal is Assessed From The Beginning

Norm Sokalski and I go through two ways to do deals without banks: joint ventures and borrower-lender relationships. 

We discuss options and land contracts as creative, collaborative ways to structure private money deals.  We also talk about relationship between prices and terms for deals, details on what the city and the neighbors are looking for in the permitting process, and vetting a general contractor. 

Check out this episode!

SHOW NOTES

0:56 – Describing the project that Norm and Tom are talking about today. 

 

3:02 – Details on what a joint venture is and describing two ways to do deals without banks: joint ventures and borrower-lender relationships. 

 

4:06 – More details on the permitting for Norm’s project and the property itself; how the time horizon for permitting is playing into this deal with the seller. 

 

5:47 – Information on options and land contracts as creative, collaborative ways to deal with this kind of situation. 

 

7:30 – Norm’s approach to negotiating on this deal so far. 

 

8:56 – Discussing the possibility of bringing the seller in as an equity partner. 

 

10:08 – Describing some of the relationship between prices and terms for deals; digging more into the price and terms that Norm has worked through on this deal. 

 

13:13 – Another possible route including an option payment with a reimbursement if another buyer comes along. 

 

15:55 – Details on what the city and the neighbors are looking for in the permitting process and where the project stands now. 

 

17:39 – Discretionary versus non-discretionary approval processes and some strategies for working with each. 

 

20:26 – What the process for moving forward in the permitting will be and what the timeline looks like. 

 

21:34 – Addressing how to approach the terms for the deal in order to keep the price favorable for everyone. 

 

23:31 – Vetting a general contractor, some specific details about the structures on the property, and some possible plans for the structures. 

 

25:16 – Tom’s experience with relocating houses and how they may be able to do that in with this deal. 

 

27:55 – Contacting Norm. 

 

 

 

Resources and Links Mentioned: 

 

 

Contact Norm at 510-730-7721 or email him at hanabuyshouses@gmail.com 

 

Contact Tom at tom@tombraegelmann.com or feedback@tombraegelmann.com