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All Forum Posts by: Mike Ojo

Mike Ojo has started 23 posts and replied 44 times.

Post: Need Advice on How to structure a deal with Partners

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Appreciate the thorough sample @Michael Volek very helpful. 

Post: Need Advice on How to structure a deal with Partners

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

@Bill F. I will be doing most of the leg work including finding the deal and managing the property (Multifamily 2-4 units). My investors are mostly tech guys and all have day jobs so they will be passive for the most part.

Post: Need Advice on How to structure a deal with Partners

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

It's been a challenge getting financing from banks mainly because I'm self-employed and I haven't had a W2 in years. Now I'm being creative and looking to raise money outside of the banks with private funding. For those who have gone this route, can you please advise on the best deal structures? please give examples if you can. I'll like to structure a deal where I bring cash to the table and where I don't. Ultimately I want my partner(s) to have majority of equity since this is my first go and I'll like to build some trust. These are also friends that I already know personally. Thanks.

Post: Getting House/Loan Put In My name

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Thank you all for the suggestions.

Post: Getting House/Loan Put In My name

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

@Brent Coombs Thanks for the response. From what I understand, actually the house was left to her under a "Gift deed" by her grandfather (her mom's father), not her dad sorry. When her grandfather died, everything went to her mom except the house was suppose to be gifted to her under the deed. But because there was still payment left on the house, the gift deed was voided and the property remained in her moms name. This is how it has been explained to me.

Post: Getting House/Loan Put In My name

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Hi,

This is a bit of a complex issue and I'm asking for a family member. Here is the issue:

My mom inherited a house from her father. She has been living in the house and paying the mortgage for almost 20 years and the entire loan is close to being paid off. The only problem is that the house or loan is currently not in her name. Everything is in her mother's name and unfortunately she has fallen out with her mom for a long time. 

Without having to deal with her mother directly, Is there a legal way to have the title of the property put in her name since she has resided there and paid all of the bills for almost two decades? 

Post: CPA Accountant In Atlanta GA

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Hi,

I'm currently looking for a CPA accountant in Atlanta that deals specifically with investors and self-employed individuals. Thank you.

Post: Rents and Vacancy Rates in Summerhill GA

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Awesome Chase! thank you.

Post: Rents and Vacancy Rates in Summerhill GA

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Hi,

I've been looking hard in the Summerhill neighborhood in Atlanta GA. Lots of new construction and money coming in since the announcement of the Turner field stadium. The neighborhood is very close to major highways, grant park, zoo atlanta etc. Of course demographics continues to change with all the new developments and home prices are skyrocketing. All that said, I still see some great investment opportunities there. My only concern is the rent and vacancy rates. Does anyone have any experience being a landlord in the Summerhill area? if so can you please tell how long? what type of tenants are you getting in terms of age-group, professionals, family size etc.

Thanks for the great advice!

Post: Buyers interested in my off market properties

Mike OjoPosted
  • Real Estate Professional
  • Atlanta, GA
  • Posts 47
  • Votes 9

Hi Jesse,

Please add mike@mojocreatives.com to your list. Thanks!