All Forum Posts by: Angela DeBorja

Thank you @Account Closed. I feel ilike there is a balance between how aggressive to be with finding a deal before I have networked enough to feel I have potential partners. In the mean time, I will continue driving neighborhoods and networking, as well as getting my other ducks in a row.  Thank you for all the input. 

Thank yog @Levi!

Hi, I am eager to start finding a deal in Baltimore to fix and flip for the first time. What is the best way to present and find partners for joint venture? Do I get the deal under contract, then present it to potential partners, or is it not necessary to have the property under contract yet? My goal is to find a deal  on my own, ie. without a realtor. 

Welcome @Mathew!

Welcome @JJ Conway! I am approaching 40 quickly and I feel like I'm in that midlife stage of starting in real estate! So much to learn on these forums. Best of luck and keep in touch! 

Great job @Nick L.. That is so exciting. I am interested to hear what others suggest. As an aside, from what I have read and been told by other investors locally, it is best to have each investment property under its own LLC for asset protection. My hunch would be that you would write up an agreement between your single member LLC and the investor for that single deal. If the deal goes smoothly, you can repeat the same for future deals to keep things simple and separate.

@JJ Conway I will message you privately. Funny, my mom has had an office on Edmonson since 1970. I wonder if they are close to each other. 

@Rich Baer thank you for your input. I am in the process of finding someone to help me sort out our LLC to make sure we are structured for protection and taxes with partnerships moving forward. The LLC is out of NV and we own a vacant lot in SC with it. We would like to purchase the property ourselves for experience, but we would be open at least for the first deal to have the partner purchase. My thinking would be 50/50 to 70/30 because it will be a learning experience for sure. I definitely will plan on meeting with a real estate attorney to make sure we cover our bases. Any recommendations would be great.

@Account Closed Thank you for the offer. 

• Locations we are considering: We have been driving neighborhoods, small single family homes, cash to close preferably, and we like/are familiar with Cylburn/Cheswolde/Mt. Washington, Towson, Lutherville-Timonium, Lauraville/Parkville, Loch Raven so far. We are still in the process of familiarizing ourselves with more neighborhoods, as many as possible/going to open houses when we can. 
• Finding a deal: I have read some books and this blog and podcasts here about marketing for deals- driving for dollars, direct mail marketing, SEO, newspaper announcements, FSBO ads, etc. I also have/had an online business for a few years and I have a decent amount of experience with wordpress blogs and online marketing/advertising on Facebook and I would like to use all of that as part of my strategy for finding deals too. My goal would be to find off market deals. With practice and repetition, I feel I could do well with the kitchen table negotiations. Being a healthcare professional for 15 years and having experience with difficult conversations with folks with challenging personalities may make it a familiar transition. Many have told me I have a way with being diplomatic and calm in tense situations.
• Control of the deal- open to negotiation. I know that having the most control as possible throughout the entire deal is key to your success. 
• Expectation for payment- thinking 70/30 to 50/50 of the profit after sale of the rehabbed house.