All Forum Posts by: Daniel Okorie

Whatever each party is willing to accept is a fair deal. I don't know if you have the saying that the best deal is where every party thinks they are getting screwed. For a more direct answer, if I were in your shoes I definitely would not do a 50/50 split. You are under valuing you skills and expertise which takes time. Time is money and you can never get time back. Money is easy to find and if your friend has any sense he will know that is true. I would start at 80/20 of net profits if you are not paying yourself anything as the "GC". But at the end of the day a relationship is more valuable than money so depending on the type of person your friend is, you most likely will need hack it out with him and see what works for both you.

Definitely Up....we build single family homes in the area. Typically we have contracts on it before it's completed or we have literally 30-50 showings within a 1-3 week time frame right after its completed. If you are around the loop, you are close to everything. If need a referral to good realtor in the area send me a PM.

Good deals are hard to come by so exercise some patience but at the same time do not over analyze a deal. My Realtor sent me a deal in the Houston medical center a few weeks ago(probably sold by now) for a 2/2 condo with $50k ask price. Comps for typical units like that are around $1200-1300 a month. Condo maintain fees were $280/mth, taxes (no exemptions) are 2.58%/yr. a deal like that for someone starting out that wants something that will cash flow but not necessarily looking for equity...this would work. Not my cup of tea because I want both equity and cash flow in my deals. Would you do a deal like that? If so you shouldn't have problems getting started.

Welcome

Send me a pm if you still need this

One of my partners is also an agent that focuses more on rehab flip deals. Let me know if you still need one.

Google Houston femt. Looks accurate to me.

@Jason Clifford yes I do. Send me your email address if you are seriously interested.

@Gatewood Brown minimum of $1200 per unit

@Gatewood Brown yes this is correct. Depending on the tenant section 8 will pay between $1250 and $1300