All Forum Posts by: Nicholas Nguyen

I had a 4-plex property and just got done evicting one of the tenants. There was a fire and the place is unlivable. My insurance pays for "rent loss" for 3 of the 4 units but won't pay for the evicted unit even though I have a new tenant ready to move in (although they haven't sign the lease). It will take 9-10 months to repair and not having that 1-unit income is a huge loss.

Is this normal for insurance companies not to pay for that and what are my options? Any input is appreciated.

Thank you in advance!

Thanks for the guidance @Nathan Gesner My question is if we sell the property early then do I pay back my investor partner the initial investment back first before we split 60/40? 

With your example above; we sell the property after 10 years and the profit is $100,000, then should my investor partner takes $30,000 for the initial investment then we split the rest 60/40?

When is it fair to not pay him the initial investment back but split the whole thing? How about selling in 5 years, 10, or 30 years? 

I just wanted to see what's the standard for a partnership with one paying the initial cost and the other managing the property.

Thanks again

Hello,

I'm working on an operating agreement for my partnership LLC. So I have a passive partner who paid for the initial investment (downpayment and closing costs) of the property. I didn't pay for anything since I found the deal and will manage the property. The mortgage is under both of our names

We agreed that I'm getting 40% and my investor partner gets 60% on everything (cash on cash return and equity).

We are not sure about how to handle the initial investment that my partner paid if we have to sell the property say in 5, 10, 15, or 30 years?

Any suggestions on how to structure this partnership?

Thank you

Thank you for sharing Andre!

Is this still happening monthly David?

Hello,

I'm brand new to real estate and just bought my first 4-unit in Fenton area. I'm interested in the property below and the numbers look really good to me but not sure about the area. If anyone could share some insight or anything on this property at all. Feel free to buy =) but I do want to understand the process.

4803 Fountain Ave, Saint Louis, MO 6311

https://www.loopnet.com/Listin...

Thank you