All Forum Posts by: Eric M.

This is useful information but much more useful would be a look at the pitfalls. What can go wrong, how to prevent those things from going wrong in a JV and tips for ways to solve those problems when they do go wrong.

As a JV money partner, those are the most important issues.

5%?  

The bank gives me that with 0 risk and full liquidity 

I do JV's with flippers occasionally as the funding partner. If that is something you need and have a deal on the table, feel free to send the numbers.

 If there is ever an investment where you "don't see the downside" you likely are not looking very hard.

Out of state landlording is full of downsides. The fact you can't see them makes me scared for you.  Do you really think all property managers do a good job? Or all qualified tenants pay their rent? Or all handymen do quality work? Or all home inspections find all the issues? Or storms don't hit? Or termites don't enter the house? Or crime doesn't happen? Or property taxes don't double sometimes? Or your family is always happy to run over to your property to check something? Or home values don't go down? ...Or....or...or.

Good Luck

Primary means PRIMARY. You can only have 1 primary residence and you state that is in Texas. You can't have a different primary residence for each state.

Every home you own that is not your primary (ie the one you file Federal taxes under and primarily live in) is a second home.

 You are right, it is not 50/50 based on what you describe. It would be 50/50 if you were doing all the work and partner was providing the funding.

Obviously the "right" split is the one you both feel comfortable with but in this scenario, he is taking only half the financial risk and doing none of the work. I would think it would be more like 75/25 or 80/20 to you after the interest on the LOC.

This is free money to him with no out of pocket. Assuming you aren't going to do something crazy he has little risk

 Yes, masses of people go between these cities up and down the I 65 corridor. This route has been in demand for many years.

Amtrak has dogs...and their own police too. It is not hard to avoid police on the highway. Trains are not a key way to transport drugs in the US. Trucks are.

LOL, a grant going toward research.

"Soon" is a big stretch. A decade....maybe

 PM me if this is short term for a flip.

 Can you describe some of your successes in negotiating RE deals? How many deals have you negotiated to determine that is a strength?

When considering whether to fund an investor with no track record, often the only thing I can look at is the transaction. The best way to get backing as a new investor is to find a deal, post the numbers and the plan and if it is a truly good deal, you will find an investor.

Feel free to send me any SPECIFIC deals and I will consider funding at your split.