All Forum Posts by: Shaun Anderson

Sorry, I should have qualified this, I will be doing buy and hold for rental cashflow, not flipping! Thanks for the advice though.

I am a newbie to everything, learning as I go and trying to learn about purchasing using none of my own money! I am looking at offering on my first deal or two and have found a private lender to work with but they want me to have a min. Of 10% in the game. I would need to find someone to work with for this 10% as well as I do not have the capital right now. My question is, if/when I find someone for this 10% how do I structure the payback to them? I know there are a few options and they may have a plan themselves but what is most common? If I offer them say 10% or more on their money and make a five year payback plan, how would the payback work to get them their principal back plus the 10%+??? I am trying to wrap my head around this!!

Thanks guys!!

Welcome Jack. I am currently looking in Columbus. Maybe we can trade notes down the line, when you are ready. I am just starting too but am close to putting in offers.

...that can deal with cross border taxation and setting up an LLC for me. Does anyone know of one? A good one preferrably, need some referrals!!

Thank you!!

haha thanks for the info, very insightful. However, I am looking at properties in Columbus Ohio not Regina where I live, way too expensive here!!

I am just about to offer, none under contract yet but it will most likely be 8 and above, looking at an 8, a 12 and larger. I hadnt heard of outsourcing before but just wanted to get some feedback on if anyone has!

My realtor has suggested possibly outsourcing the property management or properties, maybe larger ones.

Has anyone had experience with this and what are the pros/cons?

How does everyone set up the payments to their PM's?

What are the percentages expected in Columbus and in general, I know every area is different!? At what amount of unit numbers should the percentage go down?

Also, what other fees would PM's ask for, app. fees, late charge fees etc!?

Thanks guys!

I am a newbie, about to make first offers, so bare with me I will have a lot of posts with questions on here, they may seem silly, redundant, etc. but I am one who needs to dot all my I's and cross all my T's!

First off, I would simply like feed back on whether or not it's a good idea to put your own property management in place upon purchasing a new property, whether it be a SF or MF? Or is it a good idea to keep the existing management as they have knowledge of the property, tenants etc? Would love everyones feedback!!