All Forum Posts by: Tim Craycraft

Hey BP, I have been trying to search on here for a leasing agent but I seem to be looking at it incorrectly as I can not seem to find any commercial leasing agents in the Durham or Raleigh areas and I know that has to be at least one no here. Hit me up if you fit this. I am looking to start research for retail space somewhere in this area and need guidance from a pro in the retail front space.

Have you thought about maybe doing a 1 property purchase out of state and then use the remaining fund to invest in something like Open Door Capital (Brandon Turner) or similar other type of "crowd funding investment"? you could do both and see which gives a "better return" and what I mean by this is return taking into account what matters to you (investment type return - time - effort - ease of investment management - funds accessibility = what return comes out). Just another thought, but again its all about what you feel comfortable  with, your long term goals and the risk tolerance. you are still young and you have a lot of time to grown you portfolio. good luck with your final choice but from what I have seen so far, you posting on Big Pockets and reading thru different post is a massive resource of knowledge and information which means you have made the right choice as a start.

Peter this is a lot to unpack and here are just a few things you need to look at, there are many more so just take this as a first step overview

1. how many investors will there be
2. what is the investment % of each person
3. are you going to have each person as a equity partner or some equity, some just strictly investors being paid a determined amount for their investment
4. depending on the above answers you could simply go with an LLC but depending on the answers you may actually need to go into a Partnership

you are for sure on the right thought pattern though as you need to have a lot of these questions answers before you can move forward and you will need to have all parties agreeing to the terms. I would suggest to come up with an outline first and then present it to the group. Start simply with how you think it should be done then once you present your idea make changes as needed per the suggestions of the group (this will likely take a lot of time to get to a full or majority agreement). The main key here is that you "ALL" have to be on the same page for the most part and in the same mindset for the goals. You can not have yourself and another member believing that the best option is to re-invest funds into the business to grow it and 3 other members feel that the profits should be disbursed to all members per the agreed upon terms after each investment and so on. Overall you will likely need to work this thru a lawyer to make sure that all concerns and requested guidelines for the business are met and locked down. In my eyes with this type of set up make sure that all parties understand that this is a "business arrangement" and not "a family adventure" other wise people will get upset and feelings will be hurt, and we all know how the family gathering will go after people start getting their feelings hurt.
Good luck and I hope all goes well.

Hey BP 

I am new to the game and have my first rehab coming up in a month or so and wanted to reach out to the BP community and see if I can inquire to the locals around the durham or raleigh NC area to see if there are any others that are getting ready to start projects or have just started. I am looking to maybe get some experience / practice at reviewing rehab cost / estimating as well as how you kick off your projects. My thought is if I could tag along/shadow someone to learn a little bit and in return I could offer up any knowledge/helping hands I have. Again I am new but I am sure that I could help out in some way in exchange for the knowledge I would gain from the experience.  I am just trying to get real world experience from someone that has done it.

thanks in advance and hope to make some great connections.

Tim

Companies like FedEx and auto companies are moving/looking at Sanford area. The last article I read was some 7000+ jobs will be gained in the area in the next few years. Seems to be a quick boom at some point, just my view.