All Forum Posts by: Jason Luongo

Congrats on your first multi-family purchase. What are some of the lessons you learned from this deal?

Any commercial brokers on here that work in the Ocala Fl area? I would like to purchase a small apartment building by the end of the year. Any contacts would be greatly appreciated. Thanks!

I have one property in the Jax market and it does very well. I like the job growth they are experiencing. I am not as familiar with Tampa, however I do like the Port Charlotte area

I posted this in the legal forum but didn't receive any responses so I figured I would try it here.

"Hey guys,

Im an investor in Florida and I am looking to scale faster by partnering with friends/family members who can help provide capital/down payments to acquire multi-family. I just put a down payment on a duplex and I personally am tapped out. I am looking for an attorney they can help structure this kind of partnership and answer any questions I may have. Thanks!"

Hey guys,

Im an investor in Florida and I am looking to scale faster by partnering with friends/family members who can help provide capital/down payments to acquire multi-family. I just put a down payment on a duplex and I personally am tapped out. I am looking for an attorney they can help structure this kind of partnership and answer any questions I may have. Thanks!

Thanks for taking the time to respond. So there is no way to get conventional financing when partnering with someone for the down payment? Am I understanding that correctly? Can you do it without the LLC and still partner with someone?

I have friends and family that have asked me about investing in real estate because they have seen that I have done a few deals. I would like to scale my portfolio however, I need more CAPITAL! So I'm looking to get some 50/50 partnerships going, where they provide the down payment, and I do the rest. So i have some questions:

1. LLC is the best choice? or JV?
2. When attaining conventional financing, do we both have to be on the loan? Can it be just me or just my partner? and place the LLC on the title? Im a bit confused about this part
3. Is it hard to attain financing since the LLC doesn't show any income?
4. Are you splitting the cash flow after accounting for all reserves? cap ex etc?

What are some other things I need to be aware of when structuring this type of deal? Thanks in advance.

And how do you handle the financing? Are you both on the loan? I'm guessing the bank requires all majority members of the LLC

@Luka Milicevic

Are you forming an LLC or LLP for each deal? Are you both on the loan? I just finished reading Matt Faircloth's book on raising private capital but I still have many questions in regards to some of the technical aspects. I would love to pick your brain a bit.

When searching for private capital as down payment on rentals, how are you guys structuring the deal? 50/50 even split. One person brings the capital and one person is the deal provider/manager. 50/50 split on cash flow and equity? Looking to get some suggestions. I have family members who are interested in investing and my capitol is currently tied up right now in a deal.