All Forum Posts by: Jonathan G.

@Ned Carey  @Cal C. @Michael Jones @Jean Bolger @Ed L. 

Thank you everyone for the input.  If I wanted to go into a partnership with an investor who I know has enough capital to fund the down payment and closing of this or any particular deal, how would I go structuring a fair partnership.  

If all they wanted to do was bring the money to the table and not have any other responsibility.  I would in turn find the deals and then manage the whole process from beginning to end, from building the right team, to running numbers to making sure every other aspect involved would be taken care of.  

With that setup how and what would you do to make the deal work as a partnership since in the end I would most likely not be bringing any cash to the table.  Eventually what it would look like is I am finding investors that are sitting on their money either in cd's or low interest rate investments like, micro loans.  Or other's that do not have trust in the stock market and are not 100% sure what to do with their money.  

If I was to bring the knowledge that I learn over time and a somewhat safe investment which would allow them to not have to give much of their time to, other then understanding the deal but only bring their money to the table.

Nothing as big as syndication but maybe smaller amounts of capital between $50,000 - $300,000.

Thank you all for your help and advice.

Also can anyone tell me how to get the @ sign to work... thanks

Joe, how would I go about qualifying a good agent to do the due diligence for me.  What should I be looking for?  Any advice?

Andy,  all great questions.  None I seem to have the answer to yet.  I just saw the post tonight as I was property searching online.  I wanted to bounce it off everyone on BP before I started to get too deep into it.  I have put a request for the listing agent to get back to me.  Any particular questions you think I should have answer please fire away.  Again all feedback is welcomed.  Thanks!

Jean, thank you so much for your comments.  I really appreciate you chiming in.  This would be my first Real Estate deal, so I am not sure if I am biting off more then I can chew?  I am very motivated and am great at handling high stress.  I would definitely use a property management company without a doubt.  I just don't know if this is the best way to get my feet in the door with Investing.  However I am willing to take a huge learning curve if the right investment came a long.  

If I had a property management and I did my due diligence, what type of an adventure would I be signing up for?  I see that you recently purchased a 29 unit complex in Columbus, OH.  You obviously have some great experience and exposure to this type of deal.  Who knows maybe we can partner ;-).  I am open to any more feedback.

Thank you Ned.  Are you familiar with the book ABC's of Real Estate Investing by Ken McElroy?  The reason I ask is because he talks all about proper ways to investigate commercial deals.  Was wondering if that would be a good source.  

I will definitely check out the other forums in regards to this subject.  

Another question for you.. would this be crazy for me to get involved in something this big for my first Real Estate investment.  Just wondering your thoughts.  Thanks again!

Awesome feedback Owen.  Thank you so much!

Correct me if I am wrong but I feel like a fair asking price would be between $410,000 - $450,000.  Am I figuring that right?  I mean I am happy to not pay that much if it is a legit deal.  

I just wanted to post a deal on here that I just recently came across.  I am new to Bigger Pockets and would like any advice at all when it comes to looking at this deal.  It seems to be way to good to be true.  I have run several different formula's as a first step (50%, 2%, 1%).  The next would be to pop all numbers in in the Rental Properties Calculator on BP.  Then I would probably go take a look at it.  It just shows so much cash-flow I am not sure why they are selling it for so low, and why it is not gone yet.

Before I do anything else I wanted to post the info on here for everyone and anyone to chime in.  Any help that you would offer in regards to looking closer at this deal I would much appreciate it.  If I forget to leave anything out in the initial post please feel free to ask me for any important information that I may be leaving out.

DEAL

12 Units with 1bedroom/1bath rent is listed at $450 per unit.  They say it is 100% occupied.  Asking price is $254,000.  It was originally listed over a year and half ago for $350,000.   Also they are offering owner financing.

It sounds too good to be true.  Any advice.  Should I go check it out.  Am I missing something huge?  Any advice would be very much welcomed.  Again I apologize if I have forgotten something.

Interior Features

• Wall/window air cond.
• Carpet
• Tile flrs
• Range and oven
• Refrigerator

Exterior Features

• Elect. srvc avail.
• Public water supply
• Public sewer srvc

Heating Features

• Gas
• Electric

Unit Features

• 12 total unit(s)

Misc

• Topography: Public sewer srv

Thanks Suzie!