All Forum Posts by: Brett Bowers

Hello! A friend/former coworker of mine is partnering on buying a duplex with me. We are under contract right now. He is acting as the buyer's agent in the deal since he has his license. I have about 3 years of experience flipping and building houses, as well as an associates degree in a trade, about 2 years of drywall/paint experience, around 1 year of commercial/residential electric experience, and about 3 years of landscaping experience. I will be leading the charge on building a scope of work, (if needed) reaching out to my extensive database of subcontractors for quotes/work, making selections/choosing materials, and the main one performing most of the hands-on labor, while teaching him (who has no experience) how to do these tasks. So, basically being the project manager/GC on this deal. We will both live in one side of the duplex and rent out the other when renovated. We are having the conversation right now around what to do with his commission he will receive when we close. It is my understanding that it would be mutually beneficial for him to put all or much of his earnings towards closing costs to lower our cash out of pocket for closing. He does not understand my POV. What would you do in this situation? How would you present this to him in an understanding/resolving way? I feel like it is helpful to add that I am not looking or asking for any compensation for performing the tasks I mentioned above, as well as bringing in my knowledge/experience to benefit both of us to maximize the returns we will get in the future. This deal would not be happening if either one of us were not apart of it in the first place, so in theory, half of that commission is mine anyway, right? We are buying this as 50/50 partners. I would understand that if he was just representing me as the buyer's agent and not owning it 50/50 with me, he would be able to take 100% of that commission for himself, for providing that service. But that is not the case here. Looking for practical steps to take to maximize our partnership for the better. We both want to do this deal. Thank you! 

@Luke Trovinger much thanks man!! I will do just that, I appreciate your advice.

Great deal just came on the market in my area that I've been eyeballing for quite some time. Although, I recently spoke to a lender about getting qualified and approved for a loan. Since I just graduated college, work has been spotty so my record of income doesn't fit their requirements. I have good credit, some savings, and a steady source of income. I am 100% house-hacking my first property whenever I acquire it and hope it to be this specific one. I already have the tenants in place for when the time does come. However, if I cannot get the property through FSBO or private lending, it will be very difficult to acquire through a traditional loan. I would love to talk with anyone about lending options/connections in regards to this property! Help needed!

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I'm actually in Wake Forest, NC right above Raleigh. But, not too far from the Demon Deacs! 

I am in an interesting situation. I am graduating from college this May and my lease ends around the end of this November. I have been analyzing a few deals around my area and driving for dollars regularly for repetition and knowledge of my market. I have been living with 5 other guys who I consider family, and a few of them are willing to help me with my real estate investing career by renting from me when I purchase my first property to house-hack (I understand some will not agree with renting to your friends, but I am not asking for advice in this area). Most importantly, I am looking for mentorship, referrals for deals, private lending options, and possibly property management options for the future. Thank you for any help!

I will be graduating from school in May and am interested in some type of real estate related career. I would love to be an assistant of some sort to begin and learn everything I need to, to be successful not only in that business but also my personal real estate investing career in the future. I am highly coachable and would not mind working in some type of property management field, SFH or MF development, real estate agency (currently pursuing my license), etc. I want to learn from the best and provide any value I can to you, your team, and your business!

@Eudith Vacio sure thing! Thank you Eudith.