Our bidding process involves:(1) High level figure based on square footage, photos, scope of work - this is within 15% of final project cost.(2) If initial budget estimate feels aligned with goals, we schedule a site visit to hash out a more exact scope of work and take into account job sites specifics, access, finish level, etc - this is within 5-10% of final project cost.(3) If the refined budget and our working style are a fit for the client, we take a small down payment for planning and finalizing the project budget (typically $1,000 to cover drafting fees, etc).

Don't be afraid to get started as it sounds like you have a lot going for you, but also make sure to align yourself with a great team in the market you want to invest in. 

While there are many realtors that do operate as a fiduciary, compensation is never aligned with being a true fiduciary. 

However, that does not align with the national and state efforts to stay in place we are all attempting to adhere to as much as possible does it!!!

If I align a buyer with the realtor that brought me the deal, should I get paid on the back in for doing so?

Showing the necessary stars alignment for perfect asset protection, all the things that have to come together for it:2.

This can inform how much equity you provide in return2) Partnerships are a big part of most of the success stories on BP so embracing that mentality early can enable accelerated scale3) I like arrangements where incentives are aligned so it’s a positive that your GC cares about the project outcome and value created as much as you do4) With 4 kids and a full time job you may want to include some passive investing via syndicates in your strategy.  

So the above structure aligns your interest with your partner's.Makes sense?

If you believe property values & rental prices in Anaheim will continue to rise long-term (or align with your real estate goals) because of this, and you can see yourself holding an out-of-state property, you may want to hold onto the property and rent it out.However, if you believe the market is currently near the peak and want to consider selling the property, get a net closing sheet from a local Realtor or local title company to get an idea as to what you'll walk away with after all is said and done. 

Hello BP Mates,Last October we acquired our first SFH rental property and now it is time to understand and execute a tax strategy that aligns with our goals and maximizes our ability to invest in the future.