All Forum Posts by: Cris Mullen

Cesar, tell me more about Staunton. Gregg, that's certainly a solid idea. I really like the idea of partnering with someone else.

I'm anxious to get my first deal done. What would you do with access to only that limited amount of cash? I've been reading the forums and listening to the podcasts for at least a year. So I'm armed with a decent amount of knowledge. I live in the pricey Northern Virginia market. But I have family in Louisville, where I have also considered investing. 

I've thought about trying to do a flip first, so I have some 'clean' cash to work with. I am friends with a realtor in town who has a bunch of flips under her belt. But $35K probably isn't enough to make a flip happen in NOVA.

Thanks for the input!

I'm interested!

I'll take one more attempt at getting some info here...

bump for a little insight from the experts!

Daniel, sounds like you much to offer. 

Looking for some input on how to break down the profits. Let me propose a few scenarios: First three buy and hold rentals.

1. Person A finds the property and negotiates the deal, manages the property. Puts in 50% of down payment.

Person B does nothing except contribute 50% of down payment.

2. Person A finds the property and negotiates the deal, manages the property. Puts in no money.

Person B does nothing except contribute 100% of down payment.

3. Person A finds the property and negotiates the deal, manages the property. Puts in no money.

Persons A, B and C do nothing except contribute 100% of down payment.

How would you split up the monthly profits and how would the stake in the equity of the house be divided?

4. How about this flip. Aspiring investor partners with realtor on a flip. Investor puts up all the money. Realtor, who is an experienced flipper, walks aspiring  investor through the process using her network of contractors.

Thanks!

I'm in Northern Virginia and I'm also priced out of the market. As I've mentioned in another thread or two, I've been considering Louisville. My inlaws are there so it's a natural spot for me. Tough to make that out of state plunge.

Thanks Vivek. I'm looking into other parts of Virginia as we speak! 

@Joe Funari, Thanks for the advice. I like Louisville because my inlaws are there and I have a built in reason to be there every so often. Texas seems like a world away for. But I may be looking at this in the wrong way.