All Forum Posts by: Account Closed

Hello, I am looking for a bank that pays some interest, no account fees or minimum balances, and allows the creation of multiple checking and savings accounts with different LLCs under one, single login. I am considering RelayFi, however they still have a limit on the number of accounts. I was wondering what you guys like to use. Thanks in advance!

Hello, I am working to scale my rental property investing and am looking to get in contact with those who would be interested in partnering on a future a deal. I have tried a few places online, but of course it's hard to build trust with a stranger, especially when they are proposing an idea that involves "giving" money.

I believe the actual terms for the partnership are very favorable to the partner. How it would work is I would find the property, run the numbers to make sure it's solid, vet the property management/contractors, and handle issues when they arise. The partner would be responsible for the down payment and closing costs. But we would structure it so that the partner would receive 70 percent of the net cash flow until they recoup their initial investment, at which point the split would revert to 50 - 50. I have a pretty decent pitch deck made and I suppose I could send it to people in my family, I don't want people to partner with me because they feel like they have to.

My "target" partner is someone who is comfortable with the idea of real estate investing, preferably already wanted to invest in real estate, has at least 20k they are willing to invest, doesn't have the time or desire to sift through all of the properties to find a deal, and wants to take a more passive approach to real estate investing. Do you have any suggestions? Thank you!

Hello, I am working to scale my rental property investing and am looking to get in contact with those who would be interested in partnering on a future a deal. I have tried a few places online, but of course it's hard to build trust with a stranger, especially when they are proposing an idea that involves "giving" money.

I believe the actual terms for the partnership are very favorable to the partner. How it would work is I would find the property, run the numbers to make sure it's solid, vet the property management/contractors, and handle issues when they arise. The partner would be responsible for the down payment and closing costs. But we would structure it so that the partner would receive 70 percent of the net cash flow until they recoup their initial investment, at which point the split would revert to 50 - 50. I have a pretty decent pitch deck made and I suppose I could send it to people in my family, I don't want people to partner with me because they feel like they have to.

My "target" partner is someone who is comfortable with the idea of real estate investing, preferably already wanted to invest in real estate, has at least 20k they are willing to invest, doesn't have the time or desire to sift through all of the properties to find a deal, and wants to take a more passive approach to real estate investing. Do you have any suggestions? Thank you!

I should have clarified that this isn't a loan. They would own the property with me as a partner.

I should have clarified that this isn't a loan. They would own the property with me as a partner.

Hello, I am working to scale my rental property investing and am looking to get in contact with those who would be interested in partnering on a future a deal. I have tried a few places online, but of course it's hard to build trust with a stranger, especially when they are proposing an idea that involves "giving" money. 

I believe the actual terms for the partnership are very favorable to the partner. How it would work is I would find the property, run the numbers to make sure it's solid, vet the property management/contractors, and handle issues when they arise. The partner would be responsible for the down payment and closing costs. But we would structure it so that the partner would receive 70 percent of the net cash flow until they recoup their initial investment, at which point the split would revert to 50 - 50. I have a pretty decent pitch deck made and I suppose I could send it to people in my family, I don't want people to partner with me because they feel like they have to.

My "target" partner is someone who is comfortable with the idea of real estate investing, preferably already wanted to invest in real estate, has at least 20k they are willing to invest, doesn't have the time or desire to sift through all of the properties to find a deal, and wants to take a more passive approach to real estate investing. Do you have any suggestions? Thank you!

I would recommend doing your due diligence making sure it's the right first deal. House hack if that's possible in your area, but if it's too expensive, then it might be alright to invest out of state assuming you assemble a great team. I try to look for a cash on cash return of 10% or greater. As for calculating expenses, the amount of taxes paid is publicly available if you go to the county website. For insurance, you could call a few insurance brokers and try to get estimates. You can also ask the person you are going to buy the property from, but rental property insurance is a little higher than standard insurance usually. Buying out of state has many disadvantages of course, but it can still work out very well if you are able to find the right property management and are willing to wait for a good deal.

Hi James, I sent you a PM.

I am not a lawyer or an accountant, so take what I say lightly. However it seems like your CPA is wrong. It's right that you should be able to deduct 100% of your real estate business expenses from your own income, assuming your wife checks all of the legal boxes of being a REP. I can't understand why you would elect to have your entity that holds real estate to be taxed as an s-corp. S-corps are for operational businesses, which require paying of FICA tax. However, holding real estate on the other hand is considered passive income. You should be able to have the benefits of passthrough depreciation while holding it as an LLC. I would get a new accountant.

Thank you for the response! If I may ask one more question, what do you mean by specialize? Should you focus on specific types of properties (luxury, investment, condos, "normal" SFR, etc.), or buying, selling, leasing, or certain neighborhood classes, or something else, or all of the above?