All Forum Posts by: Andrew Troxel

@Derek Loda

Derek, I’m curious what you ended up doing here as I am I in a similar situation myself.

Thanks, Andrew

@Jerel Ehlert

Thanks for responding Jerel! To be more specific, a friend and I live in CA and going to begin real estate investing in TX. We would like to work with an attorney and tax specialist who focus on out of state real estate investing so we can setup our corporations correctly, establish the correct partnership structure, and ensure we minimize our tax exposure from the onset.

Thanks again!

Hello all,

I’m a new real estate investor in Southern California looking for a lawyer with specific experience working with clients who own real estate in Texas. I turn to you, the tried and trusted BP community! Please feel free to comment or PM me with your connections. Much appreciated.

@James Call

Good question. He is a close relative, I trust him and his handyman skills for fixing small stuff that doesn’t need a plumber or electrician to come out for. He is dedicated to the cause and I want to see him grow financially as well. So for those reasons I want to bring him. He can’t invest money down now because he is dutifully paying off his wife’s student loans. I do see him being able to share in capital costs down the road however.

To explain my question, myself and a business partner live in Southern California. Our target market is a more affordable town in south Texas where my relative lives. He is willing to be a property manager and in return, wants to vest into part ownership of the property. He doesn’t want a monthly fee. So if my other partner and I put down 20% plus closing costs and my relative puts no initial $$ investment, how should we structure the agreement with my relative so he gets his fair share of equity over time, but doesn’t get too sweet a deal?

One thought I had is that he would vest at a rate of 10% of the potential rent money per month (i.e. $100/mo or $1,200 per year) until he reaches $5 or $10k and then he gets 30% equity. What about our positive monthly cash flow along the way? Also, if he gets equity he would begin sharing the capital cost of expenses I’m assuming?

Open to interesting ideas and or suggestions. Thank you BP community!

@Clark Kirkpatrick this sounds awesome. Can you specify shade of light gray and shade of white you use? As I’ve learned about paint there are so many follow-up questions they ask! Would love to save the info you provide for future use.