All Forum Posts by: David Flanders

Sweet! Curious how this goes.  Trying something similar next month, minus the receptionist service.  Keep me updated!

@Billy Linn I started using Trello but haven't spent much time on it; hopefully it will do the job.  We'll see.  Thank you.

@Mike D'Arrigo Can you elaborate on reluctance of banks to offer a takeout loan if buying property in name of LLC? Doesn't seem to be an issue if providing personal guarantee and/or secured by property. Many of us obviously have LLC's and buy in the name of the LLC. What am I missing in this conversation? Thanks!

Good afternoon.  I'm seeking advice on how to best to split profits on joint ventures, given the following roles/abilities:

Me: finance deals

Partner: rehab the properties

We both have the ability to find deals and sell properties after rehab.  I assume whoever finds the deal, that will influence the profit split.  

For flips, profit would be split in one way or another (seeking your advice), but on buy and hold it seems more complicated, as only one of us would retain ownership.  Granted, we can alternate each deal in terms of who ultimately holds the property. 

Thank you! 

@Jason Bott do you have alternative suggestions on carriers that you can share?  Any geared towards our industry of investors?

@Account Closed thanks! i've heard of cloze.  checking it out

@Account Closed thanks very much for your responses.  Billy, do you have an app I can download to my phone?  If so, I might be interested.  Shoot me a private message and we can talk more.  Thanks!

@Daniel Hyman and @Noel Challenger thank you both very much!

@Jon Lee My apologies for the very delayed response. Thanks very much for responding to my question. I took your advice and offered 70% w/profit split upon flip. She declined and used her agent to sell the house. It ultimately sold (for much less than ARV). She would have made more money if she had let me flip it, but I understood her situation - she just needed to get out quick.

@Marc Heflin, @Sam Shah, @Bill Carovano thank you all very much for your recommendations