All Forum Posts by: Kevin Brown

@Andrew Reyes

Thanks for the ideas. Gives me a bit to think about.

@Eamonn McElroy

Thanks for such a quick answer. I figured this wasn't going to be an easy deal.

With the LLC you mentioned, I guess he would contribute the property and I would contribute 50k to be 50/50 on equity. I was hoping there was some way for him to contribute the equity and I could pay 25k to him to balance the equity.

I'm planning to partner with my son when he turns his current house into a rental.  We'll be 50/50 partners.  If he has 50k in equity, how do I legally get 25k to him to cover half the equity and not trigger a gift tax situation?

We'll probably start as a general partnership but may end up as LLC.

Any ideas would be appreciated.

I'm halfway through Joe Fairless' new book.  It's awesome.

Steve Berges' book is good but a bit older.  After Michael Blank's book you'll see a lot of repeating (plus MB had the accompanying website!)

Congrats @Brent M..   I plan to head in the same direction.  Good info!

Welcome Marcus.

Welcome Chris,

Glad  to see you're in the best city in NE Florida (only city in NE Florida?!)

Happy you're un-lurking.  You inspired me to un-lurk, I've been lurking for about a year!

I'm interested in Buy and Holds, a little Wholesaling and offering Private Money.

Let me know if you have any interest.

Kevin

Hi Garrett,

Welcome to BP.

I like what you did in Highland Beach.

I'm a newbie, so can't give a lot if  insight.   Just wanted to say Hi!

Kevin

Hi Benjamin,

I'm brand new here too.  Welcome.

I'm in Jacksonville, and I'm just curious how you got the home in Jax from such a distance.

You buy it sight unseen?

Kevin