All Forum Posts by: Adam Anderson

Candice,

Abigail is right, there are very few CFPs that really understand real estate investing. I am also a CFP and have been investing in real estate for more than 15 years.  I also advise clients who invest in real estate.  My practice is in northern NJ but I happen to have a Satalite office in Raleigh where we have a CFP full time.

If I can help you in anyway or If you'd like to discus this further, please feel free to reach out

Adam

I think you are looking for a CFP.  You can find one near you at http://www.cfp.net/

A good CFP will have a through understanding of tax issues even if they are not also a CPA but won't be able to prepare returns or provide detailed tax advice. You may find a wide range of areas of focus and pricing amung the CFPs in your area, so I'd recommend meeting with a few before you hire one.

What your looking for is part of the financial planning process all true CFPs are following when building financial plans for clients.

I'm interested in properties in Morris and Sussex County NJ.  I primarily buy distressed to fix and rent but also have the ability to wholesale to others who do the same in this area.  Do you get properties there?

Welcome David! Im also in NJ and happy to help if I can

I'm interested in attending but can't this week.  Can you let us know how this one goes me when the next one will be?

Adam

After throughly kicking the tires with JWB, I decided not to invest with them. I have nothing negative to say and their operation seamed to be reputable and respectable. The ROI just wasn't there for me and I'm not comfortable counting on appreciation.

We will both be on the mortgage together. The bank will allow the loan to be in the name of the LLC but we are personally underwritten. Both of us have good credit and qualifying solo is no issue

I have been investing in real estate on an off for more than 12 years and become much more active in the last year. A former co-worker as well as an acquaintance recently approached me about partnering up on some deals. I don't really need a partner but am considering it as a way to build my portfolio faster. Both these individuals have the same longer term vision of building a portfolio of rental properties and can both bring additional capital to the table but have no experience with REI. If we partner on a deal, I would work with each on a separate partnership rather than the 3 of us on 1 deal.

We discussed both investing the same amount of capital in an LLC but I will retain a larger ownership %. I'm struggling with determining what is the appropriate ownership split. I will be handling the following:

-Property Search and Acquisition

-Managing renovation & sub contractors

-Sourcing and screening tenants

-Ongoing property management

We will be investing in areas I already invest in, have my team assembled in and thoroughly understand, neither potential partner is local. Basically, I will be putting the deals together, managing the projects, and managing the finished rental property. The partner will be bringing 50% of the capital (which we hope to refi most of it back out with the BRRR strategy). I want to be compensated for the additional work and expertise but don't want to be greedy.

Can anyone help here??

I recently obtained a LOC from my local bank where my biz checking account is for $50k. I would recommend starting with the bank where you already do business first, from check out the smaller local banks

Hi, 

Is anyone in Northwestern NJ interested in an REI meet up group? I've see a couple in other areas of North NJ but nothing in Morris or Sussex counties.

Adam