All Forum Posts by: Brandon G.

@Josh James & @Paul Ewing 

Thanks for the heads up. I visited a couple of county sites and see most property taxes are around $3500 or so per year. But I'm not sure if this includes the homestead or not. 

Where can I learn more about this?

That's great news! Thanks!

I just downloaded Brandon Turner's spreadsheet calculator and was going down the list and saw excise tax. For those familiar with the Dallas market, what is the excise tax on the sale or property here? Is it the same 8.25% like regular purchases?

I want to try again and see if anyone can help me here: Can someone please tell me approximately what percentage of a typical house flip is construction related and what percentage is business related?

By construction related I mean estimating, creating SOW, hiring and managing the entire rehab etc. 

By business related I mean marketing, negotiating, closing, accounting, taxes, etc.

Please advise.

Thanks for the thoughts. I intend to flip a few houses to build capital and slowly move to a buy and hold strategy. 

My dad will indeed put in half of the money for everything. We will both be paid when the deal is finished completely. And I am not very handy at all. 

I will find the properties, he will go with me to the property figure up how much the repairs will cost and I will use his numbers to create my offer or avoid an offer. 

He will manage all things construction 100%. All of his crews are employees so they make even less than subcontractors so the savings will be substantial. 

As for going into business together, we are already running one business together. We have a similar arrangement with our construction business. I manage the marketing, investments, accounting, sales, systems and processes of the office and he manages the workers in the field. We have a good working relationship, so I am not concerned about that. Plus, I intend to make it a deal by deal arrangement so there are no long-term obligations.

I'm mostly just curious what percentage of the business is construction related and what percentage is business. He and I can work out the other details, but no doubt he will handle all things construction and I will handle all things business. But since I've never done anything real estate related before myself I cannot determine what percentage would be fair if we did decide to move forward.

I'm in the very beginning processes of how I want to organize my business. I am considering whether or not I want to bring my dad in as a partner for at least my first few deals. My dad is pretty much a general contractor so he will obviously have a lot to offer in this business. My strong suits are marketing, organizational skills, and just business in general  In addition, my wife has her real estate license and so she will be a crucial part too. 

What I would like to know is, in your opinion, what percentage of the business is construction related and what percentage is "business"? If I do approach my dad with this idea I will need to know what percentage split to discuss and why. My wife's skills will be included in my portion. So basically he will offer all the construction side and nothing more and I will offer all the business side and nothing more. 

Your thoughts please.

@Account Closed 

I meant can you PM me?

@Account Closed 

I can't find where to send you a PM. Can you PM?

I feel silly to even ask, but I can't find where to send other members PMs. I click on the profile but don't see it. Where is the PM button located?

@Jon Klaus I appreciate you pointing me in the right direction with the yellow letters.

@Account Closed Can you provide some tips as to how a new investor might can locate these off market REO deals?

Thanks everyone!