All Forum Posts by: Bruno C.

@Marko Scretchen talk to @Brandon Hall he can give you a ton of valuable advice on this.

@Account Closed I've been able to keep PM fees at 9-10% with some creative adjustments. PM me and I can fill you in on the details. 

@Steve Bracero I'd love to join this as well!

@Brandon Ingegneri might be able to help you. 

@Edward Mills I would sell if I were you unless you plan on holding it for a very long time. I actually live in Boston so I'm going to make the blanket assumption this condo is in the Boston area. Boston is scorching hot right now, which is both good and bad. It's probably lower risk if you sell, since rates are going up and we've had a lot of appreciation over the last few years. Having said that, we very well may keep going upwards, as the economy here is strong.

If you are interested in selling feel free to PM me - I have a lot of colleagues who are either real estate agents or potential buyers that would have an interest.  Good luck in your decision! 

To clarify - this is my first private lending deal - not my first deal. I have rehabbed a MF and a condo prior to this. 

Hi BP, Looking for some help here. 

Considering doing my first deal. There's 2 partners not including myself. Here's the basic facts, and I'm more than happy to get more transparent if need be. 

-I found the deal, off-market. MF, looking to BRRRR and potential sell after 1 year (when capital gains drop) or hold long-term for cash flow.

-We are all fronting the money, equally as of right now for the down payment. The commercial lender's relationship is that of the 2 partners. We will share responsibility for qualifying for financing. 

-I will manage the rehab with the GC, and I'm responsible for the successful performance of the property financially. 

-We all have a close relationship - I have known the partners for 15+ years. 

Based on this information, what would be a realistic, and fair, split in terms of ownership for a LLC in this situation? This is my first LLC, and want to cover all of our bases.

@Seth Williams Yes we do already have a property in mind, off market. I live in East Boston, and am active here in the community so I have a good lay of the land, particularly in JP/Eagle Hill. 

@Ricky Beliveau Very helpful and insightful! I'll PM you. 

Hi all,

Considering doing a condo conversion on a MF but have no idea how. Does anyone have any insight into the work required behind It in terms of cost, timeline, and general requirements? 

@Andrew McConnell AirDNA looks like exactly what I need. How do you sign up? There's a lot of links to get a demo, but I want to just start trying it rather than waiting 2 weeks for a demo. 

Thanks in advance, looks like the ideal product for where I am in our business.