All Forum Posts by: Bill Fleming

gwf - Thanks for the quick reply. Right now it looks like w/ the current market, we would probably be looking at more of a buy and hold since 'flipping' doesn't seem to make sense right now.

We discussed possibly buying a home in need a minor repairs, updates, etc., and having me 'rent' it until the marekt changes, then selling it. My 'investment' would be the rent paid and 'sweat equity' in repairs.

The issue I have is I have NO money to put into this. Lucky for me, he has stated he has more than enough.

Also, I completly agree w/ writing up a business plan. The last thing I want to do it lose a close friend over money!

I will give everyone a quick overview of my situation and then ask my questions. I live in NY, Staten Island to be exact, and am presently a renter myself, with little to no expendable income for investing. I do however have a close friend that has recently come into a windfall of $$ and is looking to do some investing. I have for years been interested in real estate and have read multiple books, websites, etc. All that being said, I have a few questions:

•Normally how is a deal like this structured? What percentages should be offered?

•Any recommendations on what I should look at for our first deal?

I know I’m probably all over the place w/ this post and I apologize if this came off rambling! There are so many things I want to write, and questions I have, but I’ll save them for a later time. :D

Thank you in advance for everyone’s help, I really appreciate it.