All Forum Posts by: Ivan K.

are the numbers standardized? Of course a state like California will have more foreclosures than other states due to higher population

I'm not specifically in Riverside, I also to San Bernardino County

I'm a huge fan of my ipad. I spent a whoping 99 cents and downloaded an app for goals. There are tons out there. It really helped me organize my goals, understand why I want those goals, and keeps track of them. I use the app daily and it's helped me a lot.

First, are you trying to make money off the site, i.e. create a product? If you are, do some research first. Make sure no one out there has done that. I think all the big Zillows out there are overall pretty good. If you are just trying to make your RT site more informative, anyone on elance.com can help you set up the site for cheap and its usually a wordpress based site wtih widgets made by 3rd parties. Just my experience.

Thank you guys for the great insight.

The first part sounds good. The LLC would be the sole managing member. I havent decided if I would do a % of assets + 10% of gains and I would invest in the project myself (typical hedge fund setup) or something similar to that where i would invest alongside investors and take a 2% of net assets as the manager.

I plan on not giving a vote to limited partners and have an llc be the managing partner.

Most of the people I know "pretty well" and the partnership will dissolve once the property is sold. Investors would be passive. It would be set up similar to a hedge fund but slightly different in that its just to buy land, develop, and sell. once sold the partnership will cease to exist.

Does anyone know if one has to be licensed to sell interest in a partnership to invest in real estate in the state of California? for example, if I want to gather 4 investors,each with $100k, would this be like a private placement, in which case I would have to be licensed for selling a "security?"

I honestly didnt know Michael was 50.