All Forum Posts by: Kevin Douglas

Welcome to SC Jeffrey Stasz ! I'm just getting into real estate as I closed in property 1 last week and close on property 2 in 2 weeks with 2 offers pending. My plan is to have 20 in 3 years. I'd love to get to know you and work together. I don't know much about the contractor business but want to learn. I could have got what I thought was a good deal on a auction flip last week but didn't bc I'm so green and wussed out. If we can't work together on a deal, I'd still be willing to offer my time (labor or managment) to learn from you.

Michael Lopez I didn't know about REIA but I will for sure look at it. Thanks

Sarah Pursell what area are you looking at and I can keep an eye out for you. I'm going to look at a 3 unit property for 160k today but it's not a great neighborhood (C- to D)

Any advice?

Sarah Pursell when are you guys moving down with CHS?

Thanks Sarah, I'll get a quote

Need to do some work on my first rental and looking for a reliable GC. Any suggestions?

I'm a transportation manager for a scientific equipment company. I rarely ever think about transportation outside of work however real estate is in my mind basically whenever I'm awake. This tells me what path I need to follow. 1 unit down, only about 19 more to go before I can exit the rat race!

I'm looking to bring in a partner to help me secure a deal. The plan is that he give a me cash for 20% down plus rehab costs (17k) and I return 15% to him as until I can repay his loan. In this deal I'm looking at monthly cash flow is about $400 a month (after ins, tax, repair, capex, mang costs) so I can give him $212 a month and I keep $188. 1. Does this look fair for both us us? This is my first partnership. 2. How do I structure this? Do we form an llc for just this property? Or does he just give me cash and I give him $212 per month? 3. Doesn't seem fair to give him $212 tax free per month. How do I structure it so he has gets taxed on his portion and I don't take on that burden at the end of the year. Such a noob question I know... sorry

Sorry I missed it. I may could pull off a video conference most any afternoon. let me know when the next one is. I have a GoToMeeting account I can use if we need to share screens, spreadsheets, numbers etc...