All Forum Posts by: James Morrissey

@Nathan Gesner, thanks for your response! Currently, I have two SFH. Very doable independently but want to start putting good systems in place. The property management route I am eyeing and wanted to see if others had different ideas.

I am interested in gaining different perspectives on how to hire an office manager and handyman so I can focus more of my time on finding properties.

@Andrew Postell thanks for the insight!

Can you transition a personal loan into an LLC loan? If so, how does that work and what is the time frame in which one came do so?

I am in a partnership LLC. We are exploring the option of utilizing a partners bank account to hold our LLC down deposit to purchase our property. We are under the impression if we open an LLC account with our funds transferred to it, the account would need roughly 2-3 months to mature prior to use in business. If this is the case, we'd like to utilize a personal account to purchase the property, but then transition the mortgage loan to the LLC to relieve the individual of "personal" debt.

@Jared Brinn I invest in the Norwood area. I have found GE to be the best on the market. Slightly more expensive, but the durability/warranty/life of the product is worth its weight in gold. Nonetheless, it’s attractive to higher tier tenants.

@Ashish Acharya thanks for the insight. Have you seen partnerships established where the contributions are made up in the equity of the property with cash flow split equally?

Three others and I are looking to start a partnership with an Operating Agreement. Each of us are contributing different amounts financially:

1. $50k

2. $20k

3. $10k

4. Sweat equity

How have others set up the percentage payouts based on a similar partnership?

@Zachary Elliott thanks for putting this together!

@Zachary Elliott what’s up, man? Thanks for reaching out. Looking to purchase come early April, but wanted to reach out to some handymen before hand.

Does anyone have any references for handymen in the Cincinnati area?