All Forum Posts by: Rocky V.

@Dane Peterson

I'm a GC and have a cash partner that I've been working with on a couple deals. Typical split is 50/50 if they provide all funds or 65/35 (65 to me) if costs are split. Keep in mind I bill at cost with no markup for my time as a GC. You must build a solid relationship and be able to trust your contractor in order for this to work. We have a separate JV agreement stating terms and that they are only cash investors and do not make any decisions in regards to rehabbing or sales price. Both are companies are on deed. I'd strongly recommend hiring them first as strictly a contractor and seeing how things go before being tied to them.

Love the deduction.  I'll be deducting this $70k+ truck this year and I even deducted the "work camper".

Purchased both these home with owner carry at 0%.  They were stuck on price so I gave it to them with my terms.  Always present multiple offers when dealing with a distressed seller.

Welcome aboard @Zane M.!!  Stick with it and you can easily have your money outearn you.  DFW market is on FIRE!!!

@Mark Douglas Yup!!  I receive maintenance request and send to appropriate tech who schedules with tenant.  They must be home unless given permission by tenant to enter premises.

If it's tenant occupied, NO.  That's a problem waiting to happen.  He should be scheduling maintenance calls with tenant.  We handle several maintenance calls a year and someone must be home.  You don't want tenant blaming you for something that is missing.  If it's during rehab/renovation, Yes.

@Dennis Li This is what I practice.  I use land trusts to hide owner information from public view.  Not sure on another posters comment but it cost about $20 to file deed.   The majority of tenants know me as "maintenance guy"  because all issues go to me then I direct to appropriate sub.  I just don't want people easily knowing my business or assets.

Yes.  You have a 2nd camera for personal use..... don't you.  I write off anything possible within reason.

I'd recommend getting at least $12K down and they have to pay all closing cost.  Also recommend increasing interest rate to at least 10% for a 20 year term.  I currently have a couple MHs in which I owner carried at 12% with 20% down.  I always remind prospects that I am not a bank and suggest that they refi as soon as possible.

Your other deals are all solid.  Great Job!!!

@Steve Logan Decided to go with Marey on this one.  I won't post link due to BP thinking it's advertising and deleting post but just google it.  I did install myself.  The main factor for going with this unit was obviously price.  I'd caution any BPers to stay away from tankless units that require stainless steel venting.  The cost on SS is outrageous.  Here's a pic of my Marey unit.