New to the investing industry-

[Courtney August]

Hi All, 

My name is Courtney, I have been on the BP FB for a little while and just made it over here, I am very impressed with all the support you provide.  I'm not able to get the pro account yet, but I would like to get there soon.  

I have worked in property management, and mortgage reconciliation, so I do have a grasp of the industry. I would like to invest in a multi-family unit with someone, ideally using an FHA loan. I would live on sight for the first year and manage the property from there, I know a lot of you would rather avoid CA, but I just can't give up the weather.

What my ideal property would be:

Minimum 2 units 

Close to event/ attractions- Beach, shopping, entertainment, etc.

Economically middle-class area 

I have one close to where I already live, which hits most of the markers- but there are a few things that are causing me to pause. 

1- the price is too dang high for the area, it has been listed though for 158 days with multiple decreases, so I think there is wiggle room  (400->350K) I'd like to get it to 285K

2- I am unsure of the rent currently being charged, local rent is going for between 1K to 2K depending on the quality. All 3 units have tenants, 2 are long-term. 

3- I am guessing as to repairs but there might need to be some work done beyond basic paint.  1 of the units was semi-recently remodeled.

My question to you:

1- What would make you feel comfortable teaming up?

2- What is your ideal percentage? 

3-What can I do to add benefit to your time and experience?

Thank you for reading and have an amazing day,

Courtney

[Robin Simon]

Quote from @Courtney August:

Hi All, 

My name is Courtney, I have been on the BP FB for a little while and just made it over here, I am very impressed with all the support you provide.  I'm not able to get the pro account yet, but I would like to get there soon.  

I have worked in property management, and mortgage reconciliation, so I do have a grasp of the industry. I would like to invest in a multi-family unit with someone, ideally using an FHA loan. I would live on sight for the first year and manage the property from there, I know a lot of you would rather avoid CA, but I just can't give up the weather.

What my ideal property would be:

Minimum 2 units 

Close to event/ attractions- Beach, shopping, entertainment, etc.

Economically middle-class area 

I have one close to where I already live, which hits most of the markers- but there are a few things that are causing me to pause. 

1- the price is too dang high for the area, it has been listed though for 158 days with multiple decreases, so I think there is wiggle room  (400->350K) I'd like to get it to 285K

2- I am unsure of the rent currently being charged, local rent is going for between 1K to 2K depending on the quality. All 3 units have tenants, 2 are long-term. 

3- I am guessing as to repairs but there might need to be some work done beyond basic paint.  1 of the units was semi-recently remodeled.

My question to you:

1- What would make you feel comfortable teaming up?

2- What is your ideal percentage? 

3-What can I do to add benefit to your time and experience?

Thank you for reading and have an amazing day,

Courtney

 Welcome Courtney!

Not exactly in response to your questions, but one thing I would suggest as advice is to go get the answers to those items that you mentioned that are giving you pause.  They are great things to be thinking about and show that you are approaching investing in a very smart way, but it begs the question, if this property has been on the market for six months - what has stopped you from taking the initiative and getting those answers (on rents/tenants, repairs needed, etc.) already?  I'd think any serious investor that may partner with you would be much more comfortable/impressed if you came with that info already