All Forum Posts by: Charlie Greenwood

This is my first question on the forum so I hope I'm adding it to the right category…

I am partnering with my brother in law in purchasing and building a vacation rental house. This is in a specific development zoned for vacation rentals and will be completed soon.

My question, due to limited cash we are only able to put 10% down on this property to close. The lender is financing this as a "second home". We cannot put an LLC or both of us on title and wanted to know some ideas on how to structure the partnership effectively. My brother in law will be on the mortgage and only person on title.

In the future I'd like to look at a quit claim deed to an LLC. Can we setup the LLC now if it isn't on title and have everything flow through the LLC?

Any thoughts would be appreciated.

Thanks!

Charlie 

Haha, I figured out how to hyperlink! I'm reposting and appreciate everyone's response!

@Ayodeji Kuponiyi Thanks!

@Sophie P. I like the Utah market. Seems to be strong. I like the rent ratios out of state but haven't vetted my own backyard. I'd need to make some contacts here to investigate that further. Hoping I can start making some contacts.

@William Hochstedler Thanks for the info. I'm keeping my options open without having too many options! There are pockets that interest me but seeing the cash flow returns in other markets is very appealing. Still, I haven't ruled out my O town.

@Account Closed Thanks for the info!

@Jeremy Robinson Congrats on the duplex! Hopefully they can pull something together!

@Thomas Holman I'll be in the area towards the end of the month. I'd like to find some time to drive the city and 'burbs to get a feel for areas I like. I'm mostly looking for B-B+ neighborhoods to get a feel for the area and price point. Any tips would be appreciated!

@Mike Gallagher I'll look up the SLREIA info. I'd like to meet. Thanks for the info.

@Brett Snodgrass Thanks Brett! I'll make contact!

@Ivan Barratt 400, wow! I'd love to chat. I'm sure there is a lot of lessons learned behind that experience!

@Eric Trostle Thanks!

@Ayodeji Kuponiyi Thanks!

@Sophie Parthesuis I like the Utah market. Seems to be strong. I like the rent ratios out of state but haven't vetted my own backyard. I'd need to make some contacts here to investigate that further. Hoping I can start making some contacts.

@William Hochstedler Thanks for the info. I'm keeping my options open without having too many options! There are pockets that interest me but seeing the cash flow returns in other markets is very appealing. Still, I haven't ruled out my home town. 

@Glenn Antoine Thanks for the info!

@Jeremy Robinson Congrats on the duplex! Hopefully they can pull something together!

@Jason Hawk I'll get in touch. 

@Thomas Holman I'll be in the area towards the end of the month. I'd like to find some time to drive the city and 'burbs to get a feel for areas I like. I'm mostly looking for B-B+ neighborhoods to get a feel for the area and price point. Any tips would be appreciated!

@Mike Gallagher I'll look up the SLREIA info. I'd like to meet. Thanks for the info.

This is a great community, I should have jumped in long ago!

Charlie

Hello BP! I am not new to this site but this is my first post. I'm a rookie investor from the Ogden, UT area. I'm starting my real estate investing career now and am committed to seeing my goals through. I've been a long time listener of the BP podcast and information seeker in the forums. I've read numerous real estate and self-improvement books to get me motivated and provide valuable education. That education won't do me any good until I start! My profession is as an "analyst" and I'm breaking free of the "analysis paralysis" that can hold so many back from their financial future, including myself. My goal is to purchase at least 3 buy and hold deals by the end of this year and build up to at least 30 SFH over the next few years.

I'm hoping to make connections on this site. It's a great tool for networking with like-minded investors and Real Estate professionals. I'm looking for SFH buy and hold deals in various markets such as Ogden, UT (Weber, Davis, and northern counties), Kansas City, MO, Indianapolis, IN, and others. My goal is to make connections through BP, visit these markets to seek out neighborhoods of interest, lender options, RE agents, property management, contractors, project managers, inspectors, and others. I'd also like to connect with other investors to share experiences, tips, referrals, and progress (failures are learning experiences too)! I'm hoping this can be a mutually beneficial relationship!

To our success!!!