All Forum Posts by: John McKee

What is the best and cheapest way that I can collect payments automatically from tenants.  I'm looking for a service that allows me to have complete control so that tenant does NOT have to create an account, but just sends me their banking info and I plug it into the system and it creates an ach debit out of their account into mine every month.  Let me know.

The reason I invest in NNN properties is for the Income that it produces. The only exit strategy would be to sell the property at the next lease renewal in say 10 years from now, when the lease is resigned at a market or a higher rate. Along the way if I find a better property to trade up to, I can. How many retirees do you know that are earning 5.5% on their savings, have built inflation protection through rental increases and can pass the property down to their heirs with a step up in basis. (Answer: none) Also, the rate of return is actually greater if you finance it as opposed to putting in all cash. These are great properties to acquire along the way while focusing on your main source of income like a job or flipping houses etc. NNN properties are a nice pension to have, because someday you won't have the energy to work for a paycheck, but because you invested along the way, you will be okay.

I have a partner who owns land that is worth 2 million,  He has 1 million loan on it.

He is asking me to partner with him on the land to develop.  In order to partner with him he wants me to contribute 1 million to pay off the loan to be a true 50/50 partner on the land so we can develop it.

I don't have 1,000,000 in cash lying around so I offered to leverage one of my income producing properties as a lien to the bank which is worth about 1 million.

The goal is to roll over his 1 million dollar loan into a 5 million loan which we would share 50/50. 4 million of that would be used to develop the land.

He needs my income and assets to qualify for a bigger loan, and I feel like my 1 million of income producing assets would suffice in the form of leverage.

The disagreement is that he feels I am not bringing any money to the table in this scenario to make it a true 50/50 partnership.  Is he right or am I right?