All Forum Posts by: Jonathon Leib

I'm wondering for those of you with partners, how you have structured the partnership.  I have a few BRRRs under my belt, been investing for about 15 years with 8 units (triplex, 2 unit mixed use and 3 SFRs).  I was approached by a friend who lives outside the US that is interested in building a portfolio and he has proposed the following:

We set up an LLC funded 75% him 25% me ($150K/$50K)

we split all income and profits 50/50

upon sale of any property, his 150 is received 1st, my 50 second and all profits above that are split 50/50

all he is contributing is $.  He can't get a loan as a non US person.  So leveraging my credit, experience, network, etc.

anyone have a set up like this?  what else should i be thinking about?  predetermined dates for one partner to liquidate?  specific liquidity requirement?  any thoughts?

@Franky Aikens I have a house in point breeze and looking for contractor for renovations. Can you recommend the person you used?

@Shawn Ryan also curious how this turned out. Did you add the 3rd floor? Who did you use and how did price compare to others?

I’m curious to chat with someone who had purchased from a wholesaler in Philly, particularly all cash deals. Financing ok too but really need some questions answered about cash offers. Anyone have experience?

I’m often looking at properties in multiple states and I’m wondering if anyone knows an app that allows you to create multiple watch lists. Currently I use the Redfin app but I have to have all of my favorites in one list. It’s becomes maddening searching thru 50 or more favorited properties in different states. Any suggestions?

Thanks for your help!

Awesome!  Do you have a contact you can share or should I just reach out to the main number?

Do you work for them?  

How long ago?  Post Covid?

Anywhere to get a heloc on an investment prop these days? Looking for 75LTV credit over 750, Philadelphia area. Loan amount of 75k