All Forum Posts by: Britt Bass

Thanks! I can see where you both are coming from. We were leaning more toward saying "no" but I wanted to get others thoughts on the subject. I am hoping to workout a way to use their money to structure a deal.

Hey Guys. I am brand new to BP so this is my first question to post. My husband and I are on our second property to rehab and we are investing/rehabbing with a partner (family). Both us and our partners have a basic knowledge/experience in the real estate market and things are going great! The only problem is that we now have other family members that stop by our rehab property and want us to teach them how to rehab. Their only expereince is watching HGTV. They are asking us to partner with them on the next rehab. We all have full-time jobs so not a lot of extra time to teach plus we are still learning ourselves and really like the partners we have. If we add another partner to the mix that minimizes the profit. We could use their money to invest in the next property but I just have concerns...

Any thoughts ??

Thank Paul for the great info. I plan to follow-up with some of your recommendations.

Thanks for the friendly advice. We are current members of Central Arkansas REIA. I hope to get to meet you both. Brandon, I am still getting familiar with the site but plan to set up the key words. Thanks again.

Hey! My name is Britt and my husband is Patrick. We are from North Little Rock, Arkansas and just found out about BP. We have enjoyed listening to podcast. We are actively involved in local real estate investing and have been for about 2 years. We are both very motivated and have quiet an entrepreneurial spirit! We are full time employees, me RN and him swim coach, greatly involved with our church, and love being with family.

Experience

We invested a good deal in our education, created Truvest, LLC and purchased our first property in 2012 with plans for minor updates and to keep as a rental. We got a good deal on purchase price but, we made a few mistakes along the way (one biggie which was not getting an inspection). We found out later that the ac was not up to code and would cost >20k to repair (not in the budget). Thankfully we got creative and came up with several exit strategies. We were able to sell the property for a very nice profit. We currently have 1 rental property and are in the process of rehabbing another property to flip.

Real Estate Goals

To do away with our JOB and invest Full-Time in real estate! Our Process: 1) flip a property 2) use the profits to invest in a property that we can Hold. We love the idea of Passive Income.

We are always looking to network so please give us your words of wisdom.