All Forum Posts by: Nick Rivers

I have a mixed use commercial /residential investment property I own with a partner. Bought last year and put 80K into it. The note is 280K  and we have approx 200K in equity in it post reno.  We rented it out and make 4K a month.    Come to find out when trying to do a cash out refi my partner has been slipping on some of his own bills and his credit is real bad now.  Partner makes plenty of money he just needs a bookkeeper.  It's investment property so we can't go Fannie or Freddie because of the type of property.   Portfolio lender said he wouldn't touch it because of my partners credit.  My credit is good.  What are my options here?   Would a different portfolio lender take it on with just me as an applicant and we pull my partner off the loan?    The guy we talked to said no but I have a hard time believing somebody wouldn't take this on.  We want to pull 80-100K out if possible.  Just looking for some suggestions

Need some advice on 1031 Exchange into DST companies. We have about 41 days left now to buy into some deals for a total of $3.5MM. Looking to get into properties that are hands off as my family doesn't want management responsibilities so we have been in touch with Kay Properties, 1031 Crowdfunding and Inland about different types of portfolios they have. Looking to see if anyone has had experience with these companies or any other good companies to recommend. I've liked the looks of some of the offerings outside Tampa area, as well as Charlotte area. This is brand new to us so looking for any advice anyone could offer that has done this before. As well has how much would you diversify this amount of money for each property? Thank you!

@Mike Jacobson do you have a good reputable contact for DST? Im trying to help my parents do one and 1031 after selling their rental properties but we are a little overwhelmed

@Matt Nusbaum @Seth Ferguson  Thanks guys, that makes sense.  Would this be an issue if down the line you need to bring in a property manager?  Or does it just then become your job to make sure the manager is operating everything correctly?

I'm an agent and newbie investor with a couple units. I have a friend who has a lot of money and wants to get into investing and open to partnering with me and bringing most of the capital.  I'd love to source a deal for a multi and start developing a portfolio with him but I just don't know where to begin even structuring the partnership.   If he brings the majority of the cash to the deal and we purchase a multi family that cash flows right away how would that break down? Is that money split evenly? Does he just recoup his initial investment when we sell way down the line and then we split it the rest?  If anyone knows a good place to go to read about structuring these different types of partnerships I'd really appreciate it.