Mississauga - Cuyahoga falls Ohio · Member since 2023 · 9 posts · 1 vote
I have a a question to the community. Do you think I can find someone who can fund my deal while I carry out the complete management renovation from start to finish. What is the appropriate? Split of course some part of my funds will be involved, especially during the Reno, etc. (background complete a Brrr, ex facility manager larger corporation and construction experience) 
Absolutely! Especially with your construction and project management background. The right structure really depends on how much capital each person is contributing, who is taking on the financial risk, and what responsibilities you're handling. There's no one-size-fits-all split. Have you considered financing the project instead of giving up equity? Depending on the numbers, you may be able to fund the purchase and renovation while keeping ownership of the deal. I'd be happy to talk through some options with you!
Hi Ross, a lot of investors in your spot find that financing the project works out better than giving up equity. On a BRRRR in the Cuyahoga Falls area, a fix and flip or bridge loan can often cover a good share of the purchase and rehab, and once it's rented a DSCR refinance can pull your capital back out. If you'd rather bring in a money partner, a common setup is that the partner puts up the cash and gets a preferred return plus a share of the profit, while you earn your share for running the rehab and management, all spelled out in a written operating agreement. Which route fits depends on your credit, how much cash you want to keep in the deal, and your timeline. I'm local in Strongsville and happy to walk through both options on a quick call, my direct line and email are on my profile.