All Forum Posts by: Daniel L.

Thank you for the input and suggestions, much appreciated! I will take a look and do all of those things. I have been leveraging FB a lot already but there is a ton of San Antonio groups. I definitely have not maxed that out. Thank you

Hello, my partner and I are looking to scale up our fix and flip business in San Antonio Texas. We are newer to fix and flipping so if anyone has any good companies/people to recommend, that would be appreciated! Specifically looking for the following at least though

1. 1. Insurance broker
2. 2. GC
3. 3. Project Manager (Currently not at that volume yet, will be there soon hopefully)

Thank you!

Thank you both @David M. and @Joe Garretson for your responses. We really appreciate you taking the time to read through it and your perspectives. You both make a lot of sense to definitely go more towards a consultant fee or flat fee rather than part ownership.

To better explain the BRRRR expert would provide us mostly connections and a fast track experience for us but below we list it out briefly

1. Wholesalers connections

2. General Contractor and contractor connections

3. Property Management company connection

4. Full BRRRR experience (as we have not done it all the way through so figured this experience might be worth giving part ownership)

Overall the expert has everything set up and working well in their area (that we have no connections in) so we could potentially just jump in and start being successful and to see how a whole BRRRR operation is run. We don't feel we have done a perfect job rehabbing and buying homes for our 3 homes that we have, so our concern I suppose would be not BRRRRing well and we figured a mentor or someone more experienced would be quite helpful. Although, it seems offering a deal where the expert gets part ownership and does not put up funds/money doesn't make a lot of sense or is not fair as you both mention. Especially since we do have some experience and are mosing right along, as David put it. Learning and making some mistakes might be best in the long run anyway as we will get better. We appreciate the input and will talk about some sort of consultant fee or option with this expert.

Do either of you have a suggestion for a consultant fee or percentage fee of the final profit?

Again, I just want to thank you both for your input and help. 

I along with my partner/sibling (semi-newbies) are looking to propose a partnership with a BRRRR expert we know. We are semi-newbies to BRRRRing, I say this as we do own 3 properties and have done all sorts of construction and rehab to them but never really gone through the whole process of BRRRRing but we do understand it and have the knowledge to do it, just have not done it. The BRRRR expert we know has done 20-30+ BRRRRs and has all types of connections in a different physical location/area than we do. The BRRRR expert is looking to go the next level of large apartment buildings/complexes and has voiced he/she does not have enough time to continuing BRRRRing as well it does lock up his/her money to go after these larger deals. We, the semi-newbies, are looking to take this over for the BRRRR expert as we would love to hone our skills more and get more experience BRRRRing as well as of course own more homes but obviously at a fair partnership for both sides.

We are looking to propose a few business partnership deals/plans to this BRRRR expert and are curious if anyone had any experience or thoughts on what to propose? So far these are some thoughts and questions we had:

1. We have the funds, so using the BRRRR expert and his/her connections we would buy a house and BRRRR. We would split the house ownership 1/3 each (BRRRR expert, myself, and my partner/sibling) as well as the rental profits 1/3 each and then continue to keep BRRRRing. No money out for the BRRRR expert, just time mostly upfront and use of his/her connections. Later on, it will be a lot less work or almost none for the BRRRR expert. Should it be less than 1/3 for the BRRRR expert or more?

2. Similar as number 1 but instead of owning 1/3 each, we would pay the BRRRR expert out their 1/3 of the house's ARV and the house and rental profits would be owned 1/2 each by us (myself and partner/sibling). This of course would cut into our nest egg and would limit the capability to BRRRR. As we would be paying someone out but we would own the house and it would keep things the cleanest as we already have our bank/business setup for us 2 already and not the BRRRR expert. Same questions as above, should it be less than 1/3 for the BRRRR expert or more?

3. Another thought is just a flat fee or percentage of the house price. What would potentially be a fair price to pay?

Any thoughts and any other suggestions or ideas would be appreciated! Thank you