All Forum Posts by: Daniel Chu

 Thank you all for the input. Good questions Mike. My role is to take the lead in analyzing the deal since I have more experience in that area. Initially when I was thinking of purchasing turnkey we would both come up with half of the money. This is not a one off deal and it is something we plan to scale up. I guess one question would be should my partner be compensated with more equity in the property or should I put in more money to make up for doing less work? Also if it was a turnkey would it be fair to just split it 50/50 since it would be much less work than a rehab? I appreciate all the help! 

@Jaysen Medhurst

I appreciate the response. If the money was 50/50 would you take less equity on the property if your partner was doing more work? I felt like I didn't want to do that.

I have a partnership question for you all. My partner and I are just starting out. We have decided to invest in the Kansas City area because he lives there and it meets our investment criteria. I live in LA. I was initially thinking of looking into turnkey properties because I didn't want him to have to take on an unfair amount of work. However after looking around we felt like buying distressed and rehabbing would be optimal. Since he lives there it seems like he will need to take on much more of the responsibility. Do you all have any suggestions on how make it fair?

@Rochelle Duong

I'm in the same boat. Los Angeles resident and looking for cash flow properties oos. I would love to join a meet up to learn. I'm just trying to learn as much as I can. Good luck to all of us starting out!

Thanks guys. Looks like I will run like hell from this. I appreciate it fellas!

Hi guys and gals. I have been looking into a condtel in Vegas but I have had a very difficult time finding a loan. Nobody wants to give a loan for these. Do you guys have any advice? The property I am looking at would make great returns and I am even considering going all in with cash (all the money I have). Can anyone help me out? 

HI Randy. I was looking into a condotel as an investment as well. I was wondering how you are getting financing? I have been looking around and conventional loans for condotels do not exist as far as I can see. 

Hey all. I really appreciate this thread! I had a question. I was looking into buying a "condotel" in Las Vegas as a STR but I ran into the problem of financing. One broker gave me a quote of 3,5,7 ARM for 30 year amortization while putting down %25 and starting at a rate of 5.5. That was much more than I anticipated. Do you guys have any input on finding a loan for "condotels".

Hey all. I really appreciate this thread! I had a question. I was looking into buying a "condotel" in Las Vegas as a STR but I ran into the problem of financing. One broker gave me a quote of 3,5,7 ARM for 30 year amortization while putting down %25 and starting at a rate of 5.5. That was much more than I anticipated. Do you guys have any input on finding a loan for "condotels".

Stanley I completely agree with your approach but unfortunately (as will pointed out) I live in Los Angeles where you would not be able to find a house for 15K. What would you suggest I do? Look out of state?