All Forum Posts by: Brock Hoffman

Caleb Heimsoth very true! I’m looking at it more in a way of getting into my first deal to gain experience and hopefully build some equity in the property and then move into a larger apartment complex down the road. I just want experience under my belt so it’s a bit easier to get private money and other sorts of funding. Not sure if I’m taking the right approach on this, but that’s what I was thinking. Thanks!

Thanks @Sam Shueh. That is great advice. We will be sure to do that before establishing any sort of official partnership.

Hey Caleb. Not to sound cocky, but I have more drive, hustle, and knowledge than him. I have studied, researched and walked property in my area for the previous year and a half. I just know he wants to get into real estate, but he isn't as motivated to work hard to find a deal. He's kind of waiting for one to pop up in his face. So, essentially I will be doing most of the work with finding, analyzing, and managing a property, but he will also be there to help at times and with funding.

@Caleb Heimsoth

Hey, that's great. Both of those answers will be very helpful. Thanks a ton. @Scott Jelinek @Corina Eufinger

Hey everyone,

I am looking to partner up with a friend I graduated with who is also interested in RE. We want to start with a smaller multi-family property and gradually move into large apartment complexes. He is working full-time in Wisconsin and I am working full-time in Michigan. Currently I am looking for a property in the Grand Rapids, MI area, and when I find one that we both like, I want to be able to pull the trigger. He has more of the money for a down payment and closing costs, but I will be more of "the boots on the ground", analyzing the property and dealing with any issues that arise. 

I was curious what a good partnership split would be in terms of profit for something like this. We are both investing together, but he is bringing more money to the table, while I am doing more of the work per say.

Should it be a 50/50 split? What do you all think? What has worked for your partnership?

Thanks!

Hi everyone, I am looking to purchase a property in Raleigh, NC after graduation in May 2018. I would like to use the FHA loan, but I would also like to buy more than 4 units. What is the maximum number of units you can purchase using this type of loan? Thanks for the comments in advance!

Wow! Thank you guys. @Matt Souza @Account Closed That is very helpful! 

Do you need your RE license to buy and sell RE and make a profit off it in Michigan? If I would rather use a realtor for veiwing, buying and selling properties anyways, is it at all beneficial for me to get it? I would rather not get it, but I want to make sure I can still invest in any property! 

Thanks for the help!

Brock

I am currently in my last year of college, and my buddy (who is also interested in real estate) graduated college last year. Would it be a good idea for us to partner on a property? He could fund the deal, and I could be the feet on the ground.. 

Does anyone have a good partnership idea for splitting up tasks and profit? Any previous experience with this?

- He could fund the deal, and come visit every once in a while to see how things are going. 

- I could analyze the deals (more experience), show the tenants around, and be the feet on the ground.

I looked into separately metering this unit, and the electrician said they would have to re-wire the whole house. They said it would be thousands of dollars.. What do you think? I said he was nuts, lol

@Jeff G.