All Forum Posts by: Michael Lopez

Has anyone been a part of a local meet up in Tampa, FL.? If so, how did it go?

@Beth S. sometimes an internet search will produce results. That is the first place I turn to when things sound too good to be true.

@Account Closed I am meeting with the investor tonight to go over details of this project. I now understand that a Master Agreement would be the best way to proceed and I will be creating one moving forward, but will I be able to create the JV if I don't have a MA?

If I can create a JV, would the process then be:

Hash out all responsibilities tonight during our meeting.

Meet with attorney to create the JV.

Create an LLC specific to the JV agreement.

Open bank account to place all the funds in.

The property is purchased and placed in the LLC?

The project begins and when completed and sold, the profits are distributed and the JV ends.

***Please add any steps if I am missing something.

***I know this may sound like a quick version of what may actually happen, so please forgive the ignorance on my part.

If you would rather PM me please do so.

@Account Closed of course i was hoping there was sort of a generic version. my intentions were not to plagiarize, but more of what one looked like. I absolutely understand you though. thanks

@Account Closed would you be willing to show me via PM what your master agreement looks like minus all the private info? I am meeting with the investor and my brother who will be in charge of the rehab work on Sunday to discuss the specific responsibilities. As I am understanding now, it would have been better to have this master agreement before we meet, but now I have to improvise. In any case, I will be meeting with my brokers attorney who put his JVs together and his accountant as well. I will say this, I have been reading and listening to podcasts for a while now, but nothing comes close to being in the middle of the action. 

@Rohan J. that is excellent advice. I will take heed! Thank you!

@Brady Durr thank you for the suggestions! 

@Account Closed wow! That is great information! I will get answers for all of those questions. I appreciate that so much!

I have recently found myself in what I believe to be a great position and would like some advice. I am having a meeting in a week with an investor who made it know that he would like to invest his money with me. I have done one deal many years ago and understand that it doesnt make me an expert at all. I am a Realtor and have done some deals and have been reading and researching for a good year to prepare myself for this moment. I have contractor connections because I have also been in the construction industry in one way or the other, building relationships with these professionals over the years.

Would a joint venture be the best way to do the first deal to build trust with my private investor? I am preparing myself and would like to put a plan and system in place before meeting with him on Sunday.

Would someone here please provide me with some insight as to how you approach a joint venture or if you believe a joint venture would be the way to go?

I did create an s-corp almost a year ago for my real estate investing, and am wondering if making shares of the company available to this investor for an investment into the company?

Please forgive my ignorance in these matters. Although a lot of reading and watching videos can be quite helpful, when the real deal comes up, I want to be sure that I dont make any mistakes that could have been avoided. 

This "private investor" has never invested in real estate before, but has the cash to do deals immediatley. 

Thanks