All Forum Posts by: Sean H.

I am having a tough time with embedding videos.  Here is the video link...

109 Merritt

Home is sold AS-IS. Needs some TLC, but has good structure. Newer windows, Newer roof (2009).
3 Bed 1 Bath.  On the Border of Brentwood.

Mainly an Aestetic Job. Great rental market, also a few 100k flips done recently nearby.

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65 N Jackson

Great One Way Street in Bellevue. She needs some work, but the returns are there in a big way.

Estimated Rent:  $900/mo

Estimated ARV: $100,000

Maybe try care.com and look for a cleaning person who charges an hourly rate?  

Check out this post by Al Williamson.  Effectively pay your children for services rendered to your RE business but only as much as they are under the earned income limit for dependents.  This money can then be used for contributions to a 529 plan AND an expense against income.  

http://leadinglandlord.com/tax-deductions-for-landlords/ 

@Brian Camp That's my alma mater.  I thought about rentals there, but the grandfathered local zoning was ridiculous.  Are they cash flowing well for you?  

Hi Brian!

Where are your properties in Western Pa?

This was a very interesting read.  Thanks for sharing and being so open about your experience @Jonathan C..  

@Kai R.  I have been in partnerships that have worked out and have been in ones that have ended poorly, both in the real estate world and outside of it.  You're emotionally invested in the company and your relationship with your uncle.  I get it and it sucks.

The two pieces of advice I have received that helped me out:

Before you list your contributions, list theirs.  You'll be more inclined to recognize what they have brought into the partnership.  If it adds up to something worthwhile, then this exercise should change your mindset, allow you to see the value they bring, and make your mindset more amiable to finding a way to work together.  

If not, hope is not a strategy.  Hoping that the partner will change into the version you want is not a viable way to build a business or frankly live your life.  Figure out the best way to end the partnership from a professional and personal perspective and move on with your life.  It sounds like you will do just fine.