All Forum Posts by: Andrew Michael

@Michelle Coombs  Awesome post lady!  I grew up in Gaithersburg MD but purchased my primary home in Urbana MD last year.  I would recommend checking out Hub City REI We meet the first Thursday of every month.  I joined about 6 months ago and the networking/ knowledge that I have gained from the group has been crucial to my real estate investing development.  Enjoy the remaining months in school and congrats on your accomplishments.  Let us know when your back in the area!  

- Andrew

@Wayne Brooks  @Bill Gulley  Thank you both for your input.  And Bill, I 100% agree.  I am in no way trying to put up a false facade nor am I acting like I am somehow owed monetary compensation. I made this very clear to all parties involved.  I only asked to stay on board as a learning experience like you suggested.  I was very upfront with my real estate skills and knowledge.  The land owner came to me only because I have done business (not real Estate related) with them in the past and they knew that I have recently began doing real estate investments.  I saw this as a golden opportunity to learn and help someone. 

Really this post was just to get some additional ideas and one more avenue to use as research.  So I appreciate all the input.

- Elephant hunter :)

@Joe Fairless I appreciate your input. Due to the situation I think the scenario you suggested is the direction I would like to take this. The developer seems willing to work with the seller so I think a JV agreement will be easy to obtain. Since the Developer plans to build an office building, is it unreasonable to ask for a fair purchase price while also keeping a small % of the monthly office rental income? Thats what I would like to see happen.

Hi BP,

It has been a while since I posted but rest assured I have been working hard structuring deals while keeping a close eye on the BP forums and posts.  Thank you all for the valuable information.  I have a handful of really exciting projects going on that I hope to post about in the near future.  

In the meantime, another opportunity has presented itself to me.  Before I begin please know that I understand most answers, strategies, and solutions are going to be way over my experience level.  So be it, I am determined on focusing why this can work vs all the reasons why it cant.  So lets get to it.

I have been brought on board by a land owner in Rockville, MD to help go over some options for them.  The .3 acre lot is located very close to the heart of Rockville and is commercially zoned.  Currently, there is an old home on the lot that is being used as an office space.  The recent interest shown by land developers has prompted the land owner to evaluate all possible options.  The developers proposals are to knock down the home and build a commercial office building (which the rest of the street/ area consists of).

I am reaching out to see if anyone has contacts, resources, or reading suggestions on the matter. I understand the basic options available like selling the property for sticker price, leasing the land, etc. I was hoping come up with a more creative deal structure where upon the owner could receive some upfront capital while maintaining a future residual income stream as well. What are some common/ reasonable JV structures or terms to suggest when it comes to a land owners working with developers?

Thank you for any and all feedback!   

I am in Urbana/ Gaithersburg everyday.  I would most certainly be interested.  Have a few local projects going as well so would love to connect and trade ideas.    

@Edward A.    Welcome to BP.  Perfect timing, HubCity meets on the first Thursday of every month so you can catch the meeting this week.  HubCityREI

This is a great place to network and get valuable information about the local markets.  Happy investing.  

@Beth L.  I have been to a few and officially joined last week.  I would say the connections and networking there will put you ahead by miles.  Everyone you need to build a team belongs to the club (title comps, lawyers, prop managers, wholesalers, etc).  Great way to find referrals and deals.  At the very least its worth a visit.  

@Beth L.  Thanks sounds good!  Let me know if you plan on attending a HubCity meeting.  Seems like there the Hagerstown/BP group is starting to grow a good bit.  

@Devonte Dinkins          Just saw this.  I will PM you some more info in a little.  Have to jump in a meeting real fast.  Thanks

Welcome @Bart K. 

I am out in Frederick but I love the Annapolis area.  Like @Christina R.  said local meetups have proven to be a huge resource of information and present great networking opportunities.  Good luck with the baby and enjoy your sleep while you have it :)