All Forum Posts by: Jeff Galbraith

Hello:

 So, I have a chance to make a deal for a few rentals, but I am not sure the best way to structure it to satisfy both sides.  Here is the situation, I have a colleague who owns a handful of rentals and is looking to get out of handling them and retiring.  He has talked to me about managing them for him, but he really wants to completely disengage from them completely.  He has offered to sign the properties over to me and then collect a percentage of rent from each until he is paid a certain amount for each one.  He is looking at a term of approximately 15 years or so to pay him for each one. 

I believe he is looking to handle things this way to prevent paying a bunch of tax on his gains and he actually wants to help me to be set-up to be successful.  

I currently have one property that I rent in the same market, my wife is a licensed real estate agent and we have good reason to trust this individual. 

I am looking for feedback regarding issues that may arise from a deal like this and any suggestions to help it work as intended.

Thanks!

I appreciate everyone's responses.  I have already listened to a few podcasts and am looking forward to the webinars.  I definitely have much to learn.  I bought my current project on advice from someone who has some experience in real estate, but I had no real idea what I was getting into.  I think I got a good deal...of not I gained a lot of experience.

Hello,

I'm from the Cumberland, MD area and I am interested in continuing in real estate investing.  Currently I have one property that I am remodeling on my own and I want to figure out how I can do this without spending all my time working on homes.  Looking for some help!