All Forum Posts by: Andrew Rodriguez

@Brandon Elliott-Pandey So far after running all the numbers as is and with a property manager at 10% I would profit $270/month

It went well. Now I have to come up with the down payment. I’m asking friends and family before I ask a bank.

I will be speaking to a local one tomorrow morning and then go from there. 

I’m considering purchasing this 4 plex. 
2105 Colorado Ave. If y’all could help with finding out if this is worth purchasing is a good investment. This would be for long term holding.

Another thing. Just say I decide to go through with all this and I get my name on the deed. My aunt wants to do 50/50 on everything including rent. I have a LLC set up, and property management software ready to use. I am pretty sure it would be dumb to pay or give her the 50% from the rent. Is that correct? If so, what are some options to go about doing it the right way?

Thanks for everyone's input. I will be sure to talk it out with everyone involved to be sure I don't make any rash decisions.  

@Theresa Harris: You make sense. I will have to go over everything of what I want to do, and then have a talk with her to see if her goals align with mine. Thank you. 

@Matthew Paul: My dad wasn't meant to do real estate. The house was given to them when my grandpa died. I thought I could take this opportunity and learn from it without having to buy property. I have spoken to her about buying her out. She said no right away. Not sure why she wants to hold onto it. I think it's a sentimental thing. Thank you. 

@Kevin Sobilo:

1. It's not that I want to partner with my aunt. It's that she doesn't want to let the house go, and I thought it could learn from this property without having to buy property. Although, I will more than likely learn all the time. 

2. I thought so. I just wanted to be sure. 

3. How could I force her to sell. I will definitely talk to her if she would give or sell me her portion. 

4.  Thank you for your advice. It's good experience for sure. 

There is a house with my dad and his sister (my aunt) on the deed. My dad want's nothing more to do with the house due to disagreements with my aunt. Since I want to get into real estate I thought this would be a good idea, but I would be on the deed with my aunt. She wants to do everything 50/50. This house also needs a lot of work. My dad is procrastinating with getting the deed transferred to me. Is it worth doing any work to it as an "owner", possibly me going the property management way, or just stepping away from it entirely until the deed transfer?

How's it going everyone?! As it says in the title, I am new to real estate. My partner and I are currently trying to work a deal with an investor to purchase an apartment complex. We are super excited to hopefully get the property and move forwards with purchasing more.