All Forum Posts by: Cassidy Burns

Hey @Josh Gorokhovsky thanks for the reply.  To answer a few of your questions:

I essentially will be the work horse:  Find the the deal, I have all of the contractor connects for any rehabs that need to be done, negotiating the deal, and managing the deal.

I do not have any of the money in the deal so how do you structure this?  There will be 2 investors bringing the money.  1 bringing $250,000 the other bringing $100,000.  Both want to have percentage of the profit.  So where do I fit in? 

33% structure? Including equity, cash flow, appreciation down the road?

Any other suggestions?

Hi BP,

I am in a good situation where I have 2 investors that are interested in purchasing buy and hold properties and have a large sum of money that they want to put to work.  I am having trouble structuring this deal, and pitching to them how I am/should be involved.  I am also going to be representing them on the buy side as I am an agent too.

Opinions on how I should structure this deal?  

Hi BP,

If you do not know the exact appraisal, and not many comps in the area for a specific type of home, can you use the tax assessment as the estimated value of the house?  What is the exact difference between the 2?  

Thank you!

Hi BP,

I closed on a Duplex today and tomorrow I am beginning my first rehab.  1 unit is rent ready and hopefully will become occupied in the next week or two.  The second side needs a little rehab.  I have the list of everything that I am planning on attacking and would love advice on what exactly is the best way of tenant proofing that specific material?

-Kitchen floor redone

-Bathroom floor redone

-Tearing up carpet in living room/stairs/hallways putt downing a solid flooring:

-Painting entire unit:  Color recommendations?

-Replacing fixtures in kitchen and family room?  Ceiling fans? (no central air)

-Mini blinds?  Supply them or have tenants bring own?

-light fixtures in bathroom

-removing fence in front/side yard

-removing screen doors on porch

Any and all material recommendations please!

Thanks

@Russell Brazil $3750. 3 bed/3 bath new construction condo in NW Washington DC. HOA Fee of $321/month.

Question: I have recently come along a few individuals that like what I am doing in the real estate world and want to invest some money with me  and get involved. I have a few different types of "private lenders":

Scenario 1.) Individual that will lend me $$ at 7% to purchase properties and just pay him interest only. What is the best way to utilize this money? Purchase something with Cash below appraised value using his money, pay the interest, and then get a loan pull all the $$ out, pay him back and then have a loan with essentially no money down?

Scenario 2.) 3 individuals who have $10,000 and want to receive 5-8% continuous rate of return and continue to invest their return into the business and then pull it out in 5 years.

3.) 2 Guys that want to partner in the purchase of a larger apartment building? Form a LLC so we are 33% owners? They would supply the money and I am doing the sweat equity.

Any help/advice is greatly appreciated.

Thank you!

Great.  I'm sold.  Thanks @Michael Wagner

@Jeff B. @Michael Wagner How often do you have to update/upgrade the subscription if you do decide to purchase the Quickbooks Pro?  Does it ever get outdated?

Hi BP,

Opinions on Quickbooks online vs. Quickbooks Pro?  Seems like online offers better access.  If you do suggest online which level do you suggest?

Thanks in advance!

@Brent Neuenschwander Great information.  Thank you.