All Forum Posts by: Joshua Brito

I have just started Note Investing with a local house flipper/Investor and i plan to continue doing so. My question is should i create my own LLC for this, and how complicated does it make it to pay my self from the LLC especially if i want to take out all the cash i originally invested out of the LLC?

Or would it be easier to continue doing it without one.

Thanks in Advance

1 Vote

Santa Fe, New Mexico

He asked me to come up with some numbers or percentages. I was thinking 40% goes to me and 60% goes to him on the overall profits. Does this sound fair?

0 Votes

Santa Fe, New Mexico

Quote from @Justin Moy:

Sounds like you're more of a source of capital for your partner? There's a bit more to it then just the rehab, but who found the property (and put in the hours and effort to finally find one that works), who will manage the disposition, who is putting up cash/balance sheet/collateral for a loan if there's a loan involved.

If you're doing lots of the task except managing the rehab then you'd of course expect a bit more, but it's hard to answer without knowing exactly who is getting what.

Also, is he profiting on the construction or is he running it at cost and his profit is coming from the sale? That's another thing to consider.

Yes basically a source of capital. This will be done with all cash no loans. He is running it at cost and profiting from the sale.

0 Votes

Santa Fe, New Mexico

Hello,

I have a question pertaining to partnering up with another Investor to do a house flip. My question is I'm new to this and the partner i am going in on this with is well experienced. We plan to go in on half of the costs including purchase of property, materials etc.. He is a General contractor and, will have his crew go in and do all the work i wont have to lift a finger. My main question is what percentage should we split the profits? Thanks in Advance!

0 Votes

Santa Fe, New Mexico

All Forum Posts by: Joshua Brito

Joshua Brito has started 2 posts and replied 4 times.

Post: Should i Start an LLC for note investing in real estate flips?

Post: Advice on partnership for house flipping.

Post: Advice on partnership for house flipping.

Post: Advice on partnership for house flipping.