Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago, 05/18/2023
How to go from no houses to 50+ units and 30+ properties.
Hoping someone has some advice:
I have an opportunity to buy a block of real estate (50+ units, 30+ properties) I have a partner that compliments my weaknesses and will provide organization, technology, and a management services. My responsibility will be to assess (flip, rent, or demo), perform the repairs/remodels, and maintenance the units we keep. Problem is I run a construction business and actually have no idea what im doing in real estate but I cannot pass on an opportunity to make a few million bucks over next few years. Anyone here happen to manage property as well and willing to assist a guy get started?
*Im not sure best legal structure of partnership business,
*day-to-day operation of property management (a starting point we will have to adjust),
*how to compensate investors vs bank financing,
*marketing (is it needed),
*tenant screening company or processes
*maintenance tracking software suggestions(partner thinks ai can create a program through prompts to automate this part)
If anyone's done it before successfully and willing to share some advice I would be extremely grateful. I know I can probably find some local financial advisors and real estate guys but I would rather discuss practical processes that already work in existing companies than pretend I'm going to reinvent the wheel with a version I build from scratch...here's to hoping!