All Forum Posts by: Joseph Pike

Ok B.P. members I am needing your help on partnership ideas.  I have 10 Rental houses a 5plex set of apartments and this past year have started flipping houses.  Recently a friend of mine got her real estate license, and she wants to get into real estate investing.  She has been working for a company that manages rental property and until she got her license she was doing all the managing, so she has experience with tenants.  Although there is one problem, with her going to college and getting her license she has no money.  So I proposed an Idea to her, the next set of apartments that I find that we should go into partners.  I proposed that I would be the purchaser and she would have to do all the work.  But since I am the one with all the money into It I wouldn't want to go 50/50 partnership right away I would still be the one with the biggest risk.  I was thinking of trying to structure it where when they are purchased she doesn't have any ownership into it, but each year that they are paid down and she does the work that we agreed on she would get more ownership eventually becoming 50/50 partnership.  I am thinking that, that way she has a little skin in the game.  Can it be structured this way, or are their any better ways?

Thanks Joseph Pike

If he really wants to get in a small town atmosphere and is not to far from Louisville, he needs to look into Brandenburg Ky which is only 45mins outside of Louisville.  Or corydon IN which is about 30 mins out side of louisville.  Both are smaller cities and with a very low crime rate and good school district.

@Bryan Drury I am an investor in meade county Kentucky.  If you could also let me know the next bp meet up in Kentucky that would be great.

I am located in Brandenburg Ky.  My family and I have multiple properties in this small town, owning anything from apt's, mobile home parks, sfr, mini storage.  

I am interested in branching out of the county towards the Louisville area.  I am looking for apartments and small mobile home parks.  I

You have the right idea on the time frame of paying itself off. If it will pay itself off in 10years and under at 10% interest then it is a good investment. But double check your rent I live in a small town and I think 300 would be to low. You should be able to up the rent and have a better cash flow, and on the loan set you up a list of let's say 30 banks and start calling try to find a portfolio lender you may have better luck just keep calling and have your numbers in line. Good luck to you

Thanks James Wise, I've been involved in the rental market for years.  So now what I'm doing is a little new to me so I'm looking for any good advice.  Thanks again.

Ok B.P. friends I need your opinion on an advertisement sign.  Lately I have been buying low end properties remodeling and selling under a lease to own option.  While the place is being remodeled I'd like to have a sign in the front yard with a catchy slogan and my number.  So I need your help with a catchy slogan, I was thinking. 

Company's name.

Buying and providing quality homes.

number at bottom.

I have recently been listening to the podcast of bigger pockets, to learn new ways in purchasing property.  I have 8 rental properties and would like to purchase more.  The most popular way that i have noticed is by direct mailing, so that is what I'm asking about. I was wondering everyone's opinion on some there favorite direct mailing sights, which I know everyone has there own sight they like.  The one that I do like the sound of so far by listening to the podcast is listsource, and have recently made contact with them to start working with them.  If anyone has any other suggestions i would greatly appreciate it.   

I am recently new to bigger pockets, so I'm hoping I can get some great feedback.  I have always been involved with rental property I have 5 houses and a 5 plex apt  complex, which I have learned all this who owns quite a few rental properties.  Recently I have started offering the lease to own option to the tenant.  In purchasing properties for this I have to be a lot tighter on the purchasing price of the property then just a rental property, in case someone buys it out right in the first year.  I'm constantly scanning the papers, internet, up coming auctions, etc and I feel like I'm running my tail off looking for any property that will work.  Most of which are to far gone to do anything with.  Which leads me to 2 questions, can anyone provide the best methods of where to find different properties to purchase looking for something that is 70cents on the $, and if there is a sight online to find out what something previously sold for without always bothering a realtor.  I am located in Meade county Kentucky.  Thank you for any feedback