All Forum Posts by: Robert Kramer

@Joshua Dorkin - Thanks for the input Josh.

@Walt Payne - OK - That makes perfect sense. Everyone get reimbursed for their out of pocket expenses and then the money is divided up.

Thanks

@Jesse Tsai Thanks for your quick response.

" investor get his $40k back and they split $60k" is more common, and IMO, more fair."

I would agree and wanted to make sure before I approched anyone.

Hey folks,

This might of been asked before but I cant find it:

Can someone explain to me the the 50/50 split if one partner is providing all the funds and the other partner is doing all the work? Does the partner who provided the money get his money back and then whats left is split 50/50 or is all the profit split 50/50 and that includes the originally invested money?

So lets say the money invested by the one partner is $40k

The profit on the rehab sale is $100k

Does each partner get $50k = a $10k profit for the investor

or

Does the investor get his $40k back and they split $60k

Thanks

So when making a Mentor/Partner request wheres the proper place to post it?

I've only been a member here for a little while and don't completely know the in's & outs of the site. I've been exploring it more & more over the last few weeks and have listened to the podcast since #32 or so. I am looking for a mentor/partner and created a post the other day about this on the "Starting Out" board. I wasn't sure if that was the right place or not so I was just taking a chance. So far there has been no response. So was that the wrong board to post on?

Hi All,

I'm looking for someone in the SJ/ Philly area who can help me get out of my stalled state and into a flip project. I would like to partner & learn from someone who has the knowledge and funds to help me get started.

What I bring to the table: Over 10 years in the remodeling industry as a kitchen & bath designer who has manged dozens of projects. A flexible schedule that gives me the time to research, manage crews and get stuff done. Creative problem solver & lots of out of the box thinking.

You: Have the experience and funds. Willingness show me the ropes of finding properties and how the business side works. Be a good, reliable, patient mentor with a vision. A win/win attitude and openness to growing a profitable relationship.

Let me know if this sounds interesting.

Ibrahim S - thank you for the great advise. I'll check it out. Are you ever working on properties in SJ/Cherry Hill area??

There's a property on my neighborhood that looks to be abandoned. Always dark, Unkept lawn, weeds growing out of the gutters, car in the drive way without license plates. Is there a way to find out what's going on with it?

If you have no CAD experience then start with the Home Designer version of Chief. It should give you all the basics that you need with the lowest learning curve & least frustration. SketchUp is free so you should of downloaded it already and started playing with it. You'll know real quickly if you like it or not.

I use Chief Architect every day with my clients (I'm a kitchen & bath designer). Like every product out there it does some things real well and some things not so well. Over all it's a great program for getting you ideas across. If you have any type of CAD experience it will be easy to learn. It will take a little longer if you don't. The YouTube videos out there will help you a lot.

I also use SketchUp for my bathroom designs when I need more detail than what CA can offer. It's fun to use and downloading objects from the library allows you to give every design a custom look.

When I need to do real detail designs, floor plans, & elevations I use Vectorworks. Another great drafting program but very pricey.

If you need design services let me know.