All Forum Posts by: Richard Mai

Hey Doug, 

Any luck on finding operators? If so, what platform did you use to find your rockstar? 

thanks

Hello Biggerpockets Community,

 I'm currently considering a unique opportunity to go 50/50 on a property with a friend, and I'd love to hear your thoughts and experiences on this matter.

Background: My friend and I are contemplating joint ownership of a property where they will live and cover the mortgage, while her and I contribute 10% down payment. It's an exciting but complex decision, and I'm reaching out to this community to gain insights, advice, and maybe learn from personal experiences.

Pros and Cons: I've identified several potential pros and cons but would love to hear your perspectives. I understand that there won't be any cashflow but the loan paydown and appreciation over time hopefully offsets not having cashflow.

Legal and Financial Advice: Do you have any recommendations for legal or financial considerations we should take into account when formalizing this co-ownership agreement? Any red flags or important clauses to include in our contract?

Decision-Making and Communication: How have others navigated decision-making in co-owned properties? Any tips for fostering open communication and avoiding conflicts over time?

Exit Strategies: One concern on my mind is planning for the future – what are some effective exit strategies you've seen or experienced in co-owned properties? My main focus is to add to my portfolio in time and hers does not involve in real estate investing. 

I truly appreciate any insights, advice, or personal stories you can share. Your experiences can undoubtedly help us make more informed decisions as we embark on this venture.

Looking forward to your valuable input!

Hello Ian

Here in Clark County, WA. Currently house hacking and is looking to join a BP or real estate investor groups near by. 

Any upcoming events?

Hey all, 

I'm from Los Angeles. My partner was accepted into Portland State University for a master's program. Myself and the girlfriends father will both be putting down $70,000 (20%) as a down deposit on a budget for a 350k home.

We preferably would like to live in portland or up to 30 min commute time. Can you give us recommendations around the area or a zip code? We plan to house hack and get a 4 bedroom home to rent out the two bedroom to help out on mortgage.

Any recommendations to buying in portland or Vancouver, wa?

Thank you so much!

Hi BP,

My name is Richard and this is my first post here on BP! I have been on this real estate investment for a year now and have never been able to pull a move, I guess you can say i'm on my analysis paralysis phase. I am currently attending college and working at the same time and have managed to save 30k thus far. I'm from the west coast from California to Oregon and possible to Washington next year. I have been looking at the market here in the west coast and the numbers for cash flow is minimal. I have been looking on the East coast but don't believe I have enough skin in the game to make that jump. The question is, should I find a partner for deals or earn my first property with a turn key? What would you do?

Thank you BP,

Richard Mai