All Forum Posts by: Doron Rice

Could you elaborate on this structure @Ken Jernigan. The investor (my friend) will get 7-10% return and 70% of the proceeds?

Hi all,

A friend of mine, who is a successful business owner, wants to partner with me to flip houses. Since I have flipping experience and am very active in RE investing, he will be a passive investor. I am not sure how to structure this partnership and wanted to get your opinion. Should he bring all of the capital? should I have a skin in the game? what percentage of the proceeds should each of us receive etc...

Thanks!

Doron

I saw a few nice properties in Teaneck NJ that could be a great flip. What is stopping me are the rumors that Teaneck's building department is very slow and difficult to work with. I was wondering if any fellow NJ investors has their own experience and thoughts.

Thanks!

 Thanks Patrick. My wife has her license and she is working with a brokerage agency but our property management is private and not part of the brokerage company she is working for. since she has her license, can she operate as an independent property manager?

Hi all,

I am a landlord in NJ with several properties. I am self managing and have a great team working with me (handyman, contractor, etc...). I am looking into starting a management company and wanted to know what type of license is required. My wife is a RE agent and I read that as such she can manage properties. is that correct?

Thanks!

 1st Appraisal was about a month ago.

Thank you all for your feedback! I wasn't aware of that but I guess the LO should have order a 2nd appraisal immediately and not after closing date.

Hi all,

I am in contract to sell a property I rehabed. The closing was suppose to be today, December 22nd and at the last minute the buyer's loan officer told us that because it is a flip and because the buyer is using an FHA loan, FHA requires a second appraisal. Me and my agent never heard of such a thing. Did anyone had experiance with such a case?

Thanks!