All Forum Posts by: Jason Etheridge

 Thank you Chris! This has given us a baseline

I am working on putting a build project together with my uncle. He knows some people willing to invest 100% of the money so we don't have to come a dime out of pocket. My uncle does the build work and I will be doing back end numbers/etc. We aim to build 26 units all 1/1's and estimate it should cost us around $1.5M +/- (we still need to survey the land and write up plans). We will fully rent it out and then cash out the invested money to pay them back then collect. What would be a fair percentage for us if theres 3-4 guys investing in the project plus the two of us?

@Michael Plaks

I will get in touch with a professional, I appreciate the advice. I’ve read a bunch of books and am just now getting my feet wet. Definitely want to minimize the amount of mistakes I make in the beginning.

I am under contract on a 4 unit. What is the process of flipping the property into a business name for write offs and tax purposes?

I’m told if you quit claim the property to a business name for write offs and protecting yourself, that the mortgage company could possibly want to collect the sum of the debt owed

Any way around this or advice?

Thanks,

Jason

Can anyone recommend a book on real estate project management?

Building projects, facilities management, working with outside professionals, etc.

I’m in sales currently and trying to get into real estate within the company I work for. I have a meeting set up next week with an executive president that may give me a shot.

Really would like to get a book down before I meet with him. It wouldn’t be a quick direct move for me but this is a dialog as to where I may be able to fit in.

Any help would be great!

Thanks!

@James Ross

10% CoC return is where I'm trying to start out as well and build up from there yearly with rental increases/cutting expenses. Let's get this empire started 🏢

We should all get together one of these says! I’m on my phone so not easy to tag everyone right now lol

@Kevin Sabatino

Thanks man! We should all get together one of these days that makes sense for everyone

@Jon Huber

Awesome Jon! I’ll definitely try to make it out there if I can on Saturday’s. I sell cars and that’s our busiest day of the week but I’m sure I can manage to take off from time to time. I like the goals! Keep grinding, I’m working my way to getting like you!

By the way--- I was on my phone and it was late last night when I replied... I'm also new and have been looking for a property for awhile, have made offers on a few but they haven't panned out to where I'm comfortable.

-Whats your 2020 goals?

Looking to get my my feet wet with one deal pretty quickly here (3-4 unit) and then work towards 1-2 more this year.

-What strategies are you guys using?

I'm looking for value add opportunities as well as rental increase's. Trying to find something I can purchase at about 80% of market value.

-What areas are you looking to invest in?

I was looking for a good deal in broward county for the past 6-7 months or so by scanning the mls and running numbers but the values are just too high right now I think.

Ive set my sights more on northern Florida earlier this week because the property values seem to make more sense. A little nervous about getting a property a few hours north but ill figure it out.

@Chace Fraser

Oh wow thanks Chace! Didn’t even notice that part of bigger pockets yet