All Forum Posts by: Brandon Gentile

I would check out a few books too like: Starting your own corporation Running your own corporation Writing winning business plans How to use limited liability companies and limited partnerships All by Garrett Sutton

Thanks for that post @Evan Manship. My wife and I think the same thing. We have a handful of units and house hack and looking to acquire a MF here soon and a couple more duplexes. We are constantly  bombarded by requests to go here and there and get news cars and we are always fighting through that to stay on track of our goals. Its a tough road but well worth it in the end. I advise anyone looking to be successful to DELAY THAT GRATIFICATION! Well worth it and good to see their ARE other millennials out there that have the same goals and not just snap chatting pictures of their food and the bar all day N nite! :)

Hey @Scott Meyers do you have that SS template?

Thanks, Scott for that information. Very useful!

You are correct. Most people have no idea. I deal with it everyday. They don't know what condition things are in, what year they are, etc.. One of the most common things I see is 6 out of 10 maybe even 7 out of 10 homes have downspouts unattached to the house and the gutters are just pouring rainwater right in to the foundation/basement of the home. Then people wonder why they have water in their basement. Something as simple as walking around your home once per week can solve this and most people don't even do it. Just goes to show you due diligence is extremely important but not all things are serious. Many things can be fixed quite easily with a trained eye where a lot of people with less experience may be turned away. Our advantage!

HVAC, plumbing, electrical, roof, sewer scope/septic inspection, well inspection, foundation, attic/basement/crawl for mold/water. Those are your big systems and I would inspect. Always ask the sellers, a lot won't know a ton about their house but that's why you have inspectors!!

Sorry @Ned Carey

I have a large multi family complex that me and one of my investors are looking at going in on together. Could my partner potentially get funding from a bank/lender and I put down the down payment? Is it possible to structure deals like that? (commercial or residential loans?)

Interesting, I have something similar going on as well. So, it would basically be the investors going around and speaking with lenders to see who would be cool with it? Someone getting the financing and the other member of the LLC providing the closing funds/down payment etc?

There are plenty of those guys on here and other private and hard money lenders! Good to see another fave from MI! Good luck with the endeavors and hope to see you around!

Yes this is standard operating procedure. Any agent worth their salt will have a buyer enter into a contract. Most big firms are traditional agencies now. Which means they must have a designated agency or exclusive agency agreement with their client. It used to be that firms were traditional agency and these rules were more lax and a little more broad. That being said there are some changes you can make to the contract so that it says the agent is just your agent for the deals that they work with you on and that is it. That is something that you might do for an investor. But someone already mentioned that a traditional residential buyer usually is very unaware what is going on needs a lot of time and attention so they have a contract to protect their time. Long story short is the firms that made you use a designated agency contract are actually following the letter of the law. A lot of firms don't have you do this and if were audited could be in trouble. You don't want any of those firms possibly coming back to you in any way looking for something. I was at a previous broker who did not do this and they were a very big chain that you all would know. Just because some or most agents do not do this does not make it correct. But there are different forms and variations you can make to that contract to benefit both the investor and the agent. I do not know the law like the back of my hand but I did just go through this process with a residential buyer who had an attorney as a father and we went through a weeklong escapade dealing with the contract so I got a pretty good dose of this from our legal department just recently. I would just make some small tweaks to it so it benefits both of you! An agent who is friendly with investors should understand. If the agent does a good job for people then the contract usually should not be a huge sticking issue with some small tweaks because the client or investor would always want to work with them and refer them anyway, right? ;)