All Forum Posts by: Jesse Anderson

 We are looking all over the place really, but I think our main focus will be Duval county. Always open to options!!!

Good morning! I was reading through several posts and thought it best to find expert advice in regards to LLC structure and taking on investors for flipping projects. I am just starting out in Jacksonville, FL and hoping to pick the brain of someone with far more expertise than I. If you have a moment I'd greatly appreciate your advice and insight.

My wife and I set up an LLC to purchase foreclosure properties around the Jacksonville area. We are trying to do flips on our own, but also potentially take on projects with a friend down here. Structurally they have come up with the idea that we use our LLC, she creates an LLC and then we contribute funds from those LLCs to a joint LLC to purchase properties and fund the renovations.

To me, it seems like a better scenario to have her friend as an investor a write a note with her commitment (50% of renovation costs) and her payoff (50% of profits, while we take 50% plus the commissions since I'm a Realtor). What is your advice on a legal and ethical arrangement that's best for all parties? Thank you for time and help!

Ryan, did you ever get a final answer to this? I can run it by my wife who is a Loan Originator and see what ideas she has. 

Thank you everyone! I'm originally from Denver, CO so seaside living will be a bit different. It's exciting to see how many helpful people are involved in the industry and suggests to me a lot of potential for networking and symbiotic relationships. I look forward to picking everyone's brain when I dive headlong into this and helping out when I can as well.

 Thank you Kimberly! I'll be going for my Real Estate Sales Associate exam just as soon as my background check is complete (working to get the occupation changed to reflect that). I'm very much looking forward to leaving the snow shovel next to our trash cans as we pull away.

As of now we are looking to do a short term rental or rent to own on Fleming Island. From all of my research so far, that looks like the perfect spot for all of us. Thank you for your input on the continuing ed classes, I'll store that little nugget away!

I just finished 11 years in the US Army and am now moving on to a career in real estate. Moving to the Jacksonville, FL area within the next month after taking my exam and will also be starting a business renovating and flipping homes. I look forward to reading through the forums and networking as much as possible. Thank you all for the great website and feedback.