All Forum Posts by: Kameeka Shirle

Quote from @Nate Sanow:

If only you can provide money in the event of a loss than in my opinion you having majority ownership is fair. 85% might be high IF her value is really strong. If however she’s simply a manager than I’d ask myself what value she is bringing that justifies giving up equity / ownership. 

Thank you. I guess my question is in the years until we can refinance, aside from majority ownership, how could I be compensated for the additional risk? Or is it enough to have majority ownership? Would it make sense for her to have a higher percentage of ownership and I be compensated for the additional risk is another way?

Quote from @Joe Villeneuve:

Quote from @Kameeka Shirle:

Hello, my business partner and I are looking to acquire a daycare business and the real estate. She had the knowledge on how to run the business, but her credit would not qualify for the loan and the bank is saying that if we go through with the loan, I would be the sole guarantor on the loan. I would have 85% ownership. How would we structure our partnership or this deal such that I could be compensated for the additional risk I'm taking on?

Wait a minute.  If she's the one that is going to run it because she knows that side of it, then how do you compensate her for that?

 We would both be paid a salary through the operating company.

Quote from @Dwayne Poster:

At 85% there’s not much left for the partners return to justify the labour input, unless it’s managerial. I think you are cutting it too thin for a working partnership. A basic wage will likely exceed that level, and to protect your interest, I would calculate that in for eventuality.

Thanks, how would you recommend I calculate that into our agreement? We would both be paid a salary through the operating company. 

Hello, my business partner and I are looking to acquire a daycare business and the real estate. She had the knowledge on how to run the business, but her credit would not qualify for the loan and the bank is saying that if we go through with the loan, I would be the sole guarantor on the loan. I would have 85% ownership. How would we structure our partnership or this deal such that I could be compensated for the additional risk I'm taking on?

@David Avery - thank you! What type of contractor would I need to look for? A general? Or someone specific?

I am analyzing a property that has extensive termite damage under the crawlspace and in the attic. Everything else was updated and renovated. The house is 100 years old and it is 781 Sq ft.  How do you repair termite damage to the foundation? About how much would it cost? What other considerations would I need to take into account (e.g. redoing the floor, new roof,  etc.)? Thanks!

I am analyzing a property that has extensive termite damage under the crawlspace and in the attic. Everything else was updated and renovated. The house is 100 years old and it is 781 Sq ft.  How do you repair termite damage to the foundation? About how much would it cost? What other considerations would I need to take into account (e.g. redoing the floor, new roof,  etc.)? Thanks!

@Logan Jones - That is helpful, thank you! The house I am currently evaluating is a 4 bedroom, zoned OR-1 (office residential). Do you happen to know which government entity I would need to contact to find out if the property is eligible and how to register for use as a rooming house?

Hello! Are room by room rentals permitted in Tallahassee? If so, what is the maximum number of unrelated persons permitted in a single family residence? Does anyone here have experience with this strategy in this market?

Thank you! Are there any city/county restrictions in St. Pete/Tampa area on unrelated persons living together in a home?