All Forum Posts by: Joshua Garcia

@Tyler Gibson yea, I like them. I initially was looking to put 50% of the finances down and do the work but compared to their experience , I would be doing allll of the work. I think that should drop my financial input. I’ll weigh it depending on the deal. A contract is a great suggestion. I wouldn’t make A deal with my money if i didn’t think it would be successful but there are ALWAYS risks. I don’t want to take advantage of their trust in my experience or lack there of.

@James Gleeson thanks ! I’m putting that much down so I can clear the house payment ASAP. She’s an older lady and asked me for 45 down to make it an even 100. Terms are

10 years

5%

Negotiate extension if needed

No payoff penalty

Rents bring in total of 2200.

Good deal.

Hey ! So I became a landlord when I was 19. Bought a triplex in LA house hacked that. Then. Duplex. House hacked that. Then a deal fell through and kind of scared me. Now I’m back in the space of getting rocking again. I have a few friends who’ve seen my entrepreneurial spirit and look to me for advice. They want to invest with me. I don’t have enough money to invest yet. How can I structure fair deal where I do the work and they do the money? Is it fair to get a 50/50 return if I put in no money ? 70/30 ? 60/40? I have 3/4 friends with anywhere between 25k-100k.

@Derek Dombeck Great ! Thanks for the advice!

Looking at a property that generates rental income. 2145. They are asking 145k total and are willing to fund me (I pay them off slowly). I’m putting down 60k. Good idea? Bad idea? What interest rate and years should I look for?