All Forum Posts by: Shanequa J.
Shanequa J. has started 62 posts and replied 863 times.
Post: Novice Real Estate Investor
- Realtor
- Houston, TX
- Posts 916
- Votes 296
Welcome. My advice is make sure the numbers work and don't rush anything.
Post: Need help with income Verification for an Army Vet
- Realtor
- Houston, TX
- Posts 916
- Votes 296
You can get the information from VA.gov. It'll have the tenant's award letter and how much they are getting from the VA.
Post: 50/50 partnership maybe?
- Realtor
- Houston, TX
- Posts 916
- Votes 296
Quote from @Kevin Sobilo:
Quote from @Shanequa J.:
Quote from @Kevin Sobilo:
@Shanequa J., someone might do that but I would recommend against it. Partnerships often don't go well. So, I think they should be considered carefully before doing. I would only partner with someone if there were "synergies" where they had knowledge and expertise where I did not and where we had alignment in our approach and goals. You don't get that from a random person you don't know well.
Why not take your wholesale fee and then use that to partner with someone you do know well.
I prefer not to do partnerships due to your started reasons. But it sounded like a no brainer if all I had to do was secure a property.
How is it a no brainer to partner with a random person rather than take your fee/money and partner with someone you can vet, know, trust, and whose goals and approach align with yours?
If you feel you would get a BIGGER return from the kind of deal you described, ask yourself why an investor would want to give you that extra money rather than keeping it for themselves. Good investors in control of their business don't give away cuts of the pie willy nilly.
If it sounds too good to be true, it probably is. The investor who is likely to want to do a deal you describe is probably one who isn't doing too well themselves but you won't know that until the deal doesn't turn out as you expect.
I'd do it bc the potential profit would be more on my end. Plus, I dont have anything to lose besides the money I would have made as a wholesale fee.
If I was an investor, I wouldn't partner with a wholesaler just for bringing me a house here and there because I'm taking all of the risk. I've been out of the investing world for almost 6 years and didn't know if things have changed. I guess that podcast host is either lying or desperate for deals.
Post: 50/50 partnership maybe?
- Realtor
- Houston, TX
- Posts 916
- Votes 296
Quote from @Kevin Sobilo:
@Shanequa J., someone might do that but I would recommend against it. Partnerships often don't go well. So, I think they should be considered carefully before doing. I would only partner with someone if there were "synergies" where they had knowledge and expertise where I did not and where we had alignment in our approach and goals. You don't get that from a random person you don't know well.
Why not take your wholesale fee and then use that to partner with someone you do know well.
I prefer not to do partnerships due to your started reasons. But it sounded like a no brainer if all I had to do was secure a property.
Post: Investing In This Market
- Realtor
- Houston, TX
- Posts 916
- Votes 296
There are still opportunities. This depends on where you want to invest and what your desired monthly profit needs to be.
There are less opportunities so be patient and don't rush into buying unless the numbers make sense.
Post: Should I invest out of state for my first property?
- Realtor
- Houston, TX
- Posts 916
- Votes 296
I wouldn't buy a property that only cash flowed $100/month. $1,200 a year is not worth the potential tenant or maintenance headaches.
Post: Insurance claim check under personal not llc
- Realtor
- Houston, TX
- Posts 916
- Votes 296
Quote from @Jordan Rodriguez:
yes, the mortgage is under my llc and I'm the only sole proprietor
Post: Insurance claim check under personal not llc
- Realtor
- Houston, TX
- Posts 916
- Votes 296
Is the mortgage in the LLC name?
Post: Good ARV Percentage To Offer On Flips
- Realtor
- Houston, TX
- Posts 916
- Votes 296
A quick common formula is 70% ARV minus repairs. However, not every rehabberuses this. Some base their offer on a house according to what profit they want to net.
Post: Does activities before closing count towards REPS hours?
- Realtor
- Houston, TX
- Posts 916
- Votes 296
I don't know if those activities count, but it might not matter.
Do you have a work time job?
You have to spend at least 750 hours doing real estate and you also can't spend more time doing any other job than you do real estate.