All Forum Posts by: Cameron G.

Are you a real estate professional scaling beyond your capacity, and need to hand off administrative tasks to someone? Well, You're in luck. My wife (who doesn't have a BP account - hence i am posting) can fit that role perfectly. She has been working since she was 13, in multiple capacities. She has worked everything from child care to security office admin, from coffee shops to teaching roles. She currently nanny's here in Nashville, but would love to be a VA for someone who could use a hard working, young professional in their corner. I give my word that she is detail oriented, hard working, disciplined, reliable, trustworthy, and an excellent communicator.

If you or someone you know could use a VA like that in your business, would you send me a message?

Cameron Landerville

Realtor, Property Manager, Investor

Nashville, TN

 I reached out to some and about 20% of them said they were fine with it. You just have to frame it as a win win, which it is.

Hello, my family and I are forming a partnership to start investing together. They already have some investments but no LLC or other entity protection. The latest advice I was given was to have a parent LLC and elect to have it taxed as a partnership, with separate disregarded LLC's for each property. Anyone else do it this way? Anyone advise a different way?

Second question: how have you guys had your operating agreements made? I went to a conference where the attorney was selling his which could be customized with his help, but I held off to do more research. Are the $100 legal zoom versions sufficient? Would a pre-written customizable one for $500-1000 be necessary? Or Should we just hire an attorney to start from scratch and end up paying 3k+?

Any other general advice for asset protection and tax deductions welcome. 

Hey all. I recently got my real estate license but am going to be working a regular W2 job [real estate related]. I really need the extra cash though so am going to be doing something on the weekends. A family member mentioned hosting open houses on the weekends. I don't know anything about that, but it sounded like a good idea. The idea is to find realtors in the area [Nashville] who maybe don't have time to host open houses, and to help them out by doing so for them. Then, perhaps I would have some kind of deal where if I find the buyer, I get a portion of the commission or a flat fee. Not sure if i would have to be affiliated with the same brokerage? 

Any thoughts on this? Any other ideas on ways to use the license on the side? 

Thanks!

I am looking to do a house hack for my first investment. Ideally, I can have my parents cosign and we can go in together on a duplex. Alternatively, I can try to get a DSCR loan on a tri or quad that cash flows sufficiently to qualify for the loan. I want to talk about this second option with a little twist.

Obviously the challenge with a DSCR loan in an owner occupied property is you lose out on the income of one unit, which makes it hard to qualify for the loan. So, what I am thinking is doing something like a reverse house hack, where I fill the whole unit with tenants after buying with a DSCR loan, and then refinancing into a traditional loan later and moving into one of the units [to get the benefit of a house hack, saving money on rent while building equity]. Any thoughts on this?

Thanks!

Hey all. I am just starting out, and have been looking to do a househack. The problem is my loan options are pretty limited since I am a full time student. A lender/friend of mine told me one method I should look into is a rent to own, which I also read about in Brandon's book. If I did this, it would simply be to acquire a rental property, not something I want to live in long term. I have a few questions, if anyone has some insight that would be awesome.

1. What is the best way to go about finding a landlord willing to set up one of these agreements?

2. If I could get a family member on board to put down the $ for a down payment [lend it to me to put down for some equity share], and get some kind of loan that is looser on the income requirements, would a traditional househack be a better option than the rent to own?

3. Has anyone tried a rent to own deal, and how did it go for you?

4. Is it typical for rent to own agreements to allow the rental payment to count towards the purchase price/down payment of the home?

5. For a rent to own, would multifamily 2-4 units be better to look for than single family, so that I can lease out the other unit/s while living there, or should I focus on cashflow after moving out [i.e. the long term].

6. I have also heard of doing one of these agreements but not living in it - I guess it's called arbitrage? Something tells me it would be a bit more difficult to find one of those deals, but has anyone had experience with something like that?

Thank you!

Thank you all for your insight. I think it was a 50/50 spread on continue or don't. One of the things a lot of you mentioned was the cost, or the ROI factor. My parents are supporting me through law school, so I am not incurring huge amounts of debt by doing this. I am more concerned about the time/money i am losing by not starting now. But at the same time, I wonder if having the JD would allow me to make up a lot of that money a lot faster, and in the mean time i can still work for a real estate firm or try to get into wholesaling, get my license, do a househack, etc. while in school. After I graduate, I will need to work for a while before full time investing. That is where I think the JD could expedite things. At the same time, starting now may be just as helpful.

So I guess my question based on that is, does anyone have any knowledge as to how much more significnat the pay would be for the first few years with a JD/MBA at a real estate firm of some kind [commercial, developer, etc.], versus the first few years without it? 

Hi everyone. My name is Cam, I am 24 and live in Nashville with my wife. Long story short, I am currently a law student [also getting MBA], but I have decided that a career as an attorney is not for me. I am going to be a real estate investor, and I want to get started NOW. That being said, I am already done with my first year of law school. So I am struggling to make a decision: do I finish my degree, and try to use it in my real estate career, or do I drop out now and jump in to a real estate career, finding a full time job in the industry, house hacking, and going from there? 

My family and friends mainly tell me to stay and finish law school. But investors I have spoke to have a different opinion. I want to make it clear, I do NOT want to be a lawyer. I did when I entered law school, but now do not. I am sure that I want a career in real estate. The question is, do I wait to get started so I can finish school, or do i save the cost of school and start working now and building a business? 

My entire life ambition is to be a great father, husband, and friend. I want to use real estate to create passive income and retire[ish] asap, so i can pursue other things in life and have my money working for me in the background. Do i really need this JD to do that? Would I be better off starting now, working, and being able to start a family, business, etc. sooner? 

All advice is welcome. Thanks.