Want to start investing, but stuck.
Bay Area, CA · Member since 2019 · 8 posts · 5 votes
Hello everyone, my name is Jesse. I'll keep this as succinct as possible:
About me:
1. Licensed realtor since 2017; experience listing/selling property.
2. 10+ years of rental property management experience, very good at finding tenants that pay the rent on time, take care of the property, & generally stay long-term.
3. Experience working w/contractors/handymen, handling remodels, sourcing material, designing places from start to finish (trashed rentals to high end luxury homes), etc.
4. Currently studying for broker license/not actively prospecting for new clients so don't have a steady stream of income at the moment but have some savings for investing
I have 2 questions:
1. Where can I find a mentor? I've been to some real estate meetups, but been unsuccessful. I know they say you can find one here - do you just put a post out or...? Do I even need a mentor?
2. If I find an investment property & want to partner w/someone to provide capital, how do I "structure the deal"? If the property is in CA, I'd be the selling agent & able to manage it/get it ready to rent out. Is structuring a deal basically drawing up an agreement that states who is responsible for what & how profits/losses are handled, setting up an LLC, or something else? Examples would be helpful!
Thank you in advance...open to any other advice as well.
About me:
1. Licensed realtor since 2017; experience listing/selling property.
2. 10+ years of rental property management experience, very good at finding tenants that pay the rent on time, take care of the property, & generally stay long-term.
3. Experience working w/contractors/handymen, handling remodels, sourcing material, designing places from start to finish (trashed rentals to high end luxury homes), etc.
4. Currently studying for broker license/not actively prospecting for new clients so don't have a steady stream of income at the moment but have some savings for investing
I have 2 questions:
1. Where can I find a mentor? I've been to some real estate meetups, but been unsuccessful. I know they say you can find one here - do you just put a post out or...? Do I even need a mentor?
2. If I find an investment property & want to partner w/someone to provide capital, how do I "structure the deal"? If the property is in CA, I'd be the selling agent & able to manage it/get it ready to rent out. Is structuring a deal basically drawing up an agreement that states who is responsible for what & how profits/losses are handled, setting up an LLC, or something else? Examples would be helpful!
Thank you in advance...open to any other advice as well.