@Luke Davis I agree with Joe..He doesnt sound like a motivated seller...

I was under the assumption that sales tax is only charged on goods and not labor or supplies.

Ask for Adam Locklear, his dad Joe is a legend in Jax in the real estate investing world and if you can get 5 minutes with Joe, its priceless.

There is a difference between having no cash and not putting cash into the deal.There are sponsors that put little to no cash into a deal but have good net worth, liquidity, experience and track records.That is very different from a sponsor as an example starting out that essentially has no experience and no money to invest in a deal just time and labor.

Thanks a bunch, Joe!

Items missed: ADU cannot be STR in most jurisdictions, no vacancy, no cap expense, no management fee (include it even if self managed because it is work), 3% maintenance ($420) may be a little light for 3 units in San Fran labor rates, my pro forma is currently showing 0% appreciation in the short term due to recent rate increase.  

It's a good stat for Joe fo sho, but I would be curious to know if ANYONE with a non-section 8 tenant has been used gifting to cultivate long tenancies at market rent.It's also worth noting that Joe's a stand-up fella, produces BEAUTIFUL homes, and is willing to pref housing voucher holders (or at least not overlook them), which also goes a long way in keeping your relationships with tenants on a top tier.

@Joe Cassandra I just bought one last week.

Originally posted by @Joe Splitrock:Originally posted by @Shawn Ziegaus:I am just starting to learn about wholesaling and really wanna get started creating my buyers list.

A common way to do these partnerships is for one partner to be the money and the other to be the labor and split the asset 50/50.