All Forum Posts by: Kenneth Mooney

@Bryce Wolfe you can cash flow with both. Pricing and returns is obviously very location dependent. In my local market, single family homes cash flow a bit better than large (25+ units) multifamily. Small multifamily (2-8) usually cashflows a bit better than single family homes where I am located. 

Easiest way to get started is to just go do it. You will make mistakes along the way but as long as your numbers are tight and fairly accurate you should not have any crippling mistakes. Biggest challenge that I personally faced was the construction side of the business. The market I am in has been booming for the past 15 years and there is/was in the past a very big shortage of quality labor due to the labors ability to go to the new construction market, make better money, and easier money. 

Hope that helps!

@Bobby Henderson I am not familiar with any out of Aiken but I am right across the border in Augusta. Would love to connect and chat real estate. 

Thanks for the tag @William Manning

@Vinnie Da silva just added you. Will DM you for more information. 

@Samuel Hailai it sounds like one of two things is happening - (1) You are not analyzing the properties correctly or (2) your market you are looking at is not a cash flowing market. 

I know my market, if you are direct to seller, you can still get 20% Gross Yield / 10% - 12% net cashflow. Those deals are hard to come by but 10-12% gross yield is there all day long. 

@Joshua Melendez Definitely something odd going on here it seems... Seems like he either owned them this whole time and/or is wholesaling them to you. I'm not as concerned with someone making $40k as I am the method in which you are acquiring the properties. Your name needs to be on the purchase contract and/or assignment contract, not his. If you are signing an assignment contract get a copy of the purchase and sale agreement prior to signing the assignment contract. 

There is the off chance he is just doing it this way so that you do not lose the deal - but I doubt it. 

Hi Luciana, it sounds like already have the partnership and are asking the best way to execute it. This is my favorite thing about real estate - there is no one way to do things! 

A couple of questions.... 

1. Who is funding the deal? If one party is funding the deal - they would likely want the property titled in their name and to pay the other partner once all funds have been settled on the deal. If both parties are funding equally - title in both names equally. 

2. SOP? - On a one by one flip basis - I do not think this is necessary. I would just purchase the property and work together to get the deal across the finish line. If you are looking to do multiple properties together and build a business together it likely would be a good idea to create an entity , articles of organization, operating agreement, and standard operating procedures. 

Hope that helps!

@Vinnie Da silva Address? Has title been cleared or are you looking to quit claim deed it? Any idea of the condition?

@David Torres sending you a DM now

Hey David, Augusta, GA here. I own Firethorn Realty and I primarily focus in working with investors. Would love to connect.