I would also be clear with her that regardless of the her vacating the apartment, if she owes you a balance you are going to pursue collections actions so she won't get away free and clear.

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

I'm looking to get started in syndicating apartments (30 units+).

Any one knows are they going to build single family or apartment?

I only have Long Term Rentals - for me it would be way too much work to do STR with a W2 job, unless I pay a property manager but I'm considering doing an MTR if add an ADU to my LTR (downstairs could be a studio apartment if add a kitchenette), haven't gotten any estimates yet. 

I think it would be great for a multi family building with 10 units or more and they don't believe it would be a good investment because you don't see vending machines in apartments, even with 50 units.

If you are looking to crush it in the leasing game, I'd suggest checking out The Apartment Source, which is one of the leading leasing companies here in Chicago. 

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Hello all, I am looking to purchase a multifamily property in the Houston area (single family, duplex in the back) with a partner.

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