All Forum Posts by: Tyler Kavan

Hi Everyone,

I am currently looking to start a partnership with a close friend of mine to finance a deal. I am looking to get him as a partner to help fund the down payment of my next deal. He doesn't have any real knowledge in real estate but has a decent amount of liquidity and is also a loan officer so we would be going through him for our conventional loan. I am a somewhat new real estate investor as I just purchased my first triplex. I am the one with the real estate knowledge as well as a fully setup LLC. I would be doing most of the hands on work like leasing, maintenance, etc.

With all of this being said what is my best route for getting this partnership setup. Would it be to put his name on the LLC as well? When it comes down to splits what would be a good percentage when he is more just providing 50% of the capital and I am doing everything else? Any and all opinions are welcomed. Looking to gain a lot of knowledge from this! Thank you.

Okay, that makes much more sense. Thank you for clarifying all of that. This is for sure something I need to familiarize myself more. Also, thank you for the recommendations and link. I will be looking into these! I will likely be back with more questions!

@Joe Splitrock Wow! Thank you so much for that response. That was very thorough and educational. I will check into the IRS form as well. I don't want to miss anything regarding tax breaks. I guess I have one follow up question regarding this topic. Let's take clean for example, would it be more beneficial to me to clean one of my units myself or to hire someone and use that as a tax write off? I am in limbo on whether I want more tax write offs or do thing myself more. 

Hello All,

I am closing on my first rental property this week and am extremely excited to get started. I am trying to prepare as best as I can before closing to get everything setup as needed. Once the property is mine I am wondering what is classified as a tax write off for my rental property and what are my best ways of tracking my expenses? When it comes tax time am I going to need a list of receipts or how does that work? Any input would be awesome. Thanks guys!

@Merrett Lane I am just starting my REI journey as well. Would love to connect and see what you are doing from your side of things. Feel free to reach out and see if we can help each other out!

@Satyam Mistry What is that Facebook group called? I would love to be apart of it.

@Danielle Berke That would be great. I would very much enjoy speaking to you guys. 

@Blake Berke Yes I did! That is awesome. I just connected with you, what a small world!

Hello Cody,

Great to see another Kiewit employee on here! You understand my situation fully. I am on a TDY package where my home residence is in Omaha and get the per diem to pay rent in Arizona. I am looking to place long term tenants in the other have of the duplex but want to self manage the property myself solely based on the fact that my turnaround for my job is every other week. I guess I am just a little nervous to start the process being away from home but I feel confident. How did you feel about it all?

Do you think because of my living situation and Omaha being my "permanent residence" the 3.5% FHA would work?

Hi. I am starting to look for my first house hack and am a little nervous on pulling the trigger while living in a different state. I work for Kiewit out of Omaha but am currently supporting a project in Arizona. I live there for the most part but am allotted time as part of the job package to come home and see family and friends. I want to buy my first multi family while I am down there so when I fully come back to Omaha, which should be in roughly 7 months, I have a place to live. I am wondering if anyone has any advice on if I should start the buying process or wait until I am back in Omaha.