Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 12 years ago,

User Stats

50
Posts
6
Votes
Gerald L.
  • Los Angeles, CA
6
Votes |
50
Posts

Creating an effective team?

Gerald L.
  • Los Angeles, CA
Posted

Background:

I live in San Francisco, California. Things are pretty expensive around here,
Initially i wanted to go solo on a couple projects so i went to the auctions and got over bid many times. So in order to increase my buying power. I decided to create a team, I've found three people so far, including me.
1. 26. I own a small business that makes bacon and sausages. i have about 100k. I am currently paying myself 3k a month and re-investing the rest in my business.
2. 23, my younger brother, civil engineer working for construction department for the city of san francisco. he only has 30k in the bank. and 3k a month.
3. 33, my friend also a restaurant owner. he has a house under his name. paid off. valued at 700k. i don't know how much he makes a month.
(4). 49, mentor, General contractor. he is the uncle of my childhood best friend. who passed away. He wont be able to help financially because he has mortgages out on 5 houses. But he will be doing our constructing, help finding leads and advising.

Our goal: To flip property outside of San Francisco, earn capital and re-invest into more property.

The question(s): How should i utilize my team best? I want to know what is the most expensive house we can buy? with some left over for taxes, insurance and repairs?

Loading replies...