All Forum Posts by: Jackson Tate

Hey Christopher, Thanks for your input. I feel good about the two potential partners I would consider, my concern is determining the best way to organize it. LLP sounds like a solid way to do it and, ironically, one of the folks I would consider partnering with is my attorney. Does it seem reasonable to say that I could fund the purchase of the land, which would be about 100k and the partner funds the down payment for the construction, which would be in the same ballpark?

I'm looking at a couple vacant sites in my area that will support the construction of duplexes.

I have a GC who would be interested in partnering and would be in control of the construction aspect.

What is the best way to structure a partnership for this kind of project, especially if we may do up to 4 of these at one time together?

Should I buy the land and then he supplies the down payment on construction? Any thoughts would be appreciated.

Jackson Tate

I'm looking at a couple vacant sites in my area that will support the construction of duplexes.

I have a GC who would be interested in partnering and would be in control of the construction aspect.

What is the best way to structure a partnership for this kind of project, especially if we may do up to 4 of these at one time together?

Should I buy the land and then he supplies the down payment on construction? Any thoughts would be appreciated.

Anyone have any organizations they recommend to go to when looking for a line of credit? Currently looking for line of credit between 50-100k.

Russ, looking for a contractor to work on low end to medium quality flips. As of now I primarily work in Moncks Corner, Summerville, and Park Circle. Values range from 150-350k. They are usually complete remodels.

Anyone have a contractor in the Charleston market they recommend? Need one who checks all the boxes and takes pride in their work.

Hey Bob, I haven't acquired the property yet, but it will be either 25 or 30k. The rehab estimate from my contractor is 45-55k.

I'm looking at paying cash for a house that needs a complete renovation. I have a lender I've worked with on renovation loans before but am wondering if there are any good options out there to finance just the rehab costs?

Thanks for all the feedback. My other property ended up closing the same day, and I went ahead and wrote him a check for the 42k. Going to meet with my CPA this week, so hopefully he can shed some light as well and then I can figure out if I went about this appropriately.