All Forum Posts by: Account Closed

That's great! I'm definitely looking forward to making the transition. Let's grab coffee or Top Golf on me this visit or next? 

First off thanks for taking the time to read my post.

I have recently made the decision to relocate to Dallas from Kentucky within the next few months, with several visits scheduled between now and then. My next trip to Dallas will be March 19– 24th. I am experienced in several aspects of real estate, having been involved in flipping homes, new construction commercial/residential, remodels, SFH/multi/commercial rentals, unique commercial developments that others avoided, and tenant rep for national users. Looking forward to hearing from you - even if it's just a recommendation of agents, developers, local investors, information, or meet-ups. After researching the market over the past few months, my initial plan is to construct new townhomes while familiarizing myself with the new commercial market.

Hope to meet several of you next week!

Have you nailed down a plan? Im also looking to build a duplex. I cannot decide on a plan! 

Keep all of these steps in mind. I just copied and pasted from a previous discussion. So, filter whats needed

1.Determine your goals and expectations from the partnership. What each of you offer the partnership.

2.Determine the type of partnership… LLC, Corporation, Partnership (think about the length of the partnership, type of assets, type of operations, the way you will divide earnings and tax implications

3.What the specific roles are between you and Zack (ie, GM, contractor, acquisition manager, etc)

4.What the specific responsibilities and expectation are for each role (If you have an Acquisition Manger, don’t just put “Find deals”, be specific.)

5.How each person will get paid, and when. Are you all participating in profit share? Or are they tied to the re-sale? (for instance if you fix and flip). How far after closing can they expect to get paid? Or does it automatically role to the next project.

6.Is there a review period? A step up in profit percentage for exceeding performance benchmarks? Whatever else sort of understanding you and Zack agree upon, write them out.

7.Have a clearly stated exit strategy (for example is there a Buy/Sale option in the agreement)

8.Get the Agreement signed so you are both aware that is the game plan.

Jake, I am in the exact same position you have mentioned. Ive been investing a little over a year now & in this time the housing market has increased by some impressive numbers. While this is a good thing in general, its only hard to find an investment now. I have decided, like you mentioned, to expand into other areas. I have talked to two real estate brokers in two different towns. These brokers are going to do comps on the houses alongside with me, search for bargains, help manage rehab ect. In return they have agreed to sell/manage the house I obtain for they're normal commissions.