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17 December 2024 | 7 replies
If I ever brought any of them a deal by.a rookie investor in a market they do not know, with work performed by a GC that has 0 relationship with the investor, they would laugh at me.PML is not just Potsy from Happy Days.
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17 December 2024 | 16 replies
Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.
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17 December 2024 | 19 replies
Thanks I honestly hate public speaking Which is weird considering I was in front of classroom for almost 20 years If your ever in po m-f shoot a call or text I’ll try and make time to meet for a coffee
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13 December 2024 | 3 replies
Also, starting my journey in real state investment made change my mindset and since last year I have been more disciplined on my finances and I have been taking better decision on how I spend my money.
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16 December 2024 | 11 replies
You shouldn’t ever need to answer a voice call for your rental.
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16 December 2024 | 5 replies
I think they used to be more helpful in the past and they made some changes and now they're not so valuable.I see weird and different values for my Airbnb stats depending on if I'm using my laptop or phone to view them.
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16 December 2024 | 6 replies
These can change as fast as a new legislature wants a new highway.
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7 December 2024 | 2 replies
In the years that I've represented primarily BUYERS, I find that there has been challenges navigating transactions where the seller is a For-Sale-By-Owner (FSBO) AND inexperienced in handling a real estate transaction...
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5 December 2024 | 18 replies
Many property management companies likely have not caught on to the concept yet.
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20 December 2024 | 14 replies
A guy in the biz for 20 years who had a ton of bad habits will not change their ways, if they are lazy they'll be lazy for you.