All Forum Posts by: Lucas Cole

@Everett Fujii makes sense.  Thanks!

Which would you suggest doing and why?

Forming an LLC with your partners for a specific property

or

Drafting a partnership agreement between the partners' individual LLC's on a specific property

Pro's and cons of each?  

@Thomas S. very helpful.  Thanks!  @Andrew Johnson agreed.  In this case, the partners have complimentary skill sets that would help us scale much faster than if I went solo.  Helpful insight! @Mateusz Prawdzik thanks! @Derrick E. thanks!

Hey Thomas - could you elaborate on what you mean by "spreading equity as thin as possible?"

Thanks Bob!  Good advice.  If we partner on the deal, we can still pay cash for the property (it's $30k), then hypothetically we could still rehab, rent and refinance it, use that capital to purchase another property, etc, etc.  

Newbie here. I am in process of pulling a HELOC on my primary residence to create capital for real estate deals. At this point I'm thinking between my HELOC and cash reserves I should have between $30-40K to work with. I know that each deal would need to be analyzed individually, but my question is, should I focus this capital on one property (pay cash for something and go solo), or should I spread this out, partner up and get a number of properties going? I have two guys I have a friendship with, one is a General Contractor, the other is a Property Manager, and both are interested in partnering. Just curious to hear people's thoughts on the difference between focusing capital on a single, good deal and flying solo vs spreading it out and partnering.