All Forum Posts by: Ted Swagerty

Hey folks,

I have two friends and mentors that are open to investing with me on a property.

Their investments will probably take the form of a loan at prime rates.

The market in Portland has been so crazy that I’d like to propose they invest in a percentage of the price of the home purchase. Is this common?

What is a typical agreement between an OPM investor and a real estate entrepreneur look like?

Thanks!

Hey y’all,

My best friend and (I've known him all my life/basically my brother) are starting an LLC to invest in real estate together.

We have pretty complimentary personalities and skills. I’m an electrician by trade, quite handy, etc. He is an excellent project manager. At one point, he oversaw 18 retail shops across the country for a leather goods company.

Do you have any advice for long term partnerships?

We definitely plan on getting our agreement in contract and doing everything we can to ensure a successful and harmonious business and friendship.

Thanks!

@Zach Lemaster

Thanks Zach et al for your contributions.

I wrote this post while waiting for a meeting so pardon the missing details...

Biggest detail I forgot to mention: I would love to acquire all of his properties. But as I am just starting out, I don't have much capital. I was thinking an LLC would be good for us to go in on a property together which would help fund another property and then finally I could take aim at his other properties every 2 years.

In summary, what to do when a friend/acquaintance has properties in a highly competitive and you are just starting out? What are some other strategies? Seller financing? Rent to own?

Hey folks!

An older friend of mine would like to liquidate his four properties but he would like to avoid paying capital gains tax.

I suggested that he and I form a LLC and slowly transfer his properties to our LLC.

Are there any other strategies that I am not aware of?

Hey folks,

My friend and former landlord is looking to sell his three rental properties. I would personally like to acquire them but I just bought a house this spring. Is there a way he could sell a house to me and get 1031 benefits if we were to do seller financing?

Hey guys!

I just bought a multi family here in Portland. I like my neighborhood, my tenants and the rental income. Just one problem… My next-door neighbor is most likely addicted to meth. He works on cars late at night, has a tendency to hoard junk in his front yard and attracts a group of people  that make my tenants and I uncomfortable.

My personal interactions with them have been fairly pleasant. I’ve had to ask him to move a car near my driveway. He’s a nice enough but the company and trash he keeps has me worried that it will affect my bottom line. 

I put security cameras up around the property to protect against theft but I still get the random car stops in my driveway for 20 min here or there.

What would you do if you were me?

I would love to buy the property they are sitting on but another neighbor said they have been offered cash but have refused in the past.

How do I neutralize the petty crime/ gritty scene next door so it doesn’t affect my property value or tenants’ lifestyles?

Thanks in advance!

@Tim Herman

Sound advice! Thanks!

So, I'm buying a duplex as a first time homebuyer. Apparently, the FHA loan stipulates that the buyer must live in one of the units. How do they verify that you do this? Couldn't one collect his mail at the duplex but rent out both units?

I’ve been living on my sailboat for the past year saving for the down payment and it’s pretty nice. The rent is very cheap.

It’s tempting to rent out both units, paying cheap rent and save for another house... does the bank send a person to your residence to see if you actually live there? 🤔