All Forum Posts by: Manolo D.

@Jon Huber 

That would be a perfect opportunity for me too, given that I am self employed, its hard for me to get a bank loan. I would love that opportunity to JV with somebody. Looking forward to it, thank you very much Jon.

Welcome @Hank Fields ! This is a great site, loads of info! I have learned more reading things here in a short period of time.

@Jon Huber There is an LA meetup? I need myself invited. haha.

Buy and hold rental properties, depending on credit and cash flow, you could go sfh or multi familys. from what i have read, multi family apartments with more than 6 doors are more bank friendly. good luck.

@Robert Fuhs Wow, he is not your friend, the fact that he is money hungry. I charge for an estimate in small jobs, then credit if I get the job. This is to weed off those people that needs 3 bids before they decide as requirement only, in commercial side, thats normal. in residential, its 50/50.

Straight up opinion, NO WAY! RE is free to use, you pay at closing, and contractor is too, specially if he is your friend, i waive the fee for a repair job if they give me enough job to offset my travels.

Here is his future benefit: When you buy, when you use him as contractor, when you sell, when you profit share. Are you sure you want to give up that much money? If i were you, offer 50/50 on all profit from pre purchase up to post sale, no markups on construction, no agent fee, THEN, thats fair.

@Curt Davis Yes, exactly my issue, as I am only exposed to commercial and government ground-up construction and tenant improvement (aka remodel in the rei world), I am having trouble finding hml, or perhaps i am not asking the right question/giving the right answers.  The fact that i use the term tenant improvement instead of the word remodel, rings up a bell on my mind that i dont speak the same language with them.

@Jay Hinrichs I will do that. On JV, is 50/50 going to be worth for the principal partner or do i need to offer more?

@Stephen Lofthus I would charge the client for me to bid on a repair, I would not on a major rehab. I would issue a refund if given an award though for sure, perhaps surprise the client with another trip charge refund or two at the end of the project.

I have the same case with Greg, I am having trouble with locating HML, maybe it is because I don't have the right knowledge or couldn't understand 80% of what they are saying, or couldn't answer what they are asking. So I am thinking to partner up with somebody with a 50/50 (is it fair for lenders? if not, what is?) possibly here or somewhere.

What I need from the partner is cash purchase and funding rehabs. I would locate the property and bring the figures at the table (locating, research up to ARV), the principal partner would be pure funding only. After purchase, I would do the rehab with drawing system and all the hard work. Sorry, I came from commercial and government contract that these aren't an option. What I am trying to build is since I am new to REI, find a system where I could have multiple projects with multiple funding partners, so I could concentrate on what I do best, construction.

Is this option even possible? It is more of like a industrial partner type of system.

@Jay Hinrichs @Terry Lewis @Ned Carey @Curt Davis @Andrew Sterling 

Would love your inputs. Thanks.

www.trello.com - Sticky notes type for my ToDo, project bids, etc... you know, the daily tasks.

Google Drive - to store my files and have my employees have their own folder, and add them to either share the whole folder or just view access (I don't need the paid, what for? I enjoy the same features with free). I keep things segregated in folders, employees only see what I want them to see.

www.vertex42.com for business forms/templates, project management .xls, they even have grocery checklists. I love this site.

@Roman Pak That might keep you up a few nights, but it is always the nature of business. Keep in mind that all partnerships doesn't work out well, in a year or two, there is a big chance that it could fall out. That is why if I have a partnership, its always 2 years max. I would like to separate in good terms always, sometimes you just cant avoid them.

Are you in need of drafting or designing services? Any engineering/architectural stamps? It doesn't sound like a big project, I am actually trying out something like that on my team also.