All Forum Posts by: Blake Sullivan

Hi all,

I have several investors that are interested in deals that I have and I am thinking it would be best to tackle them as a syndication. I have tons of questions but mainly am looking for good resources that discuss how to set up and structure the partnerships from a legal and financial perspective. 1) I'm curious what I should do for splits. I could manage a large part of the deal but would want to outsource some of the day to day management to a company that I trust locally. I know that would cut into what the typical split would be. 2) Super dumb question. Do you use investor funds as down payment and still get bank financing or is it fully funded by investor funds and purchased cash? Lastly, when I evaluate CF for a SFH I take out my % for maintenance, capex, management etc. Do you still do the same for a syndication and then pay out CF percentages. I assume you keep a certain % in reserves every month and then pay out investors the left overs.

Appreciate any resources anyone has or if anyone would like to chat about this.

Thanks!

Blake

Hi all, 

I recently purchased my first home which is a primary residence but I am renting out a room and am reporting that rental income. Would I be able to write off expenses such as furniture, appliances, lawn care etc? Eventually I will move to a different house and this will become a full time rental but am currently living in it and house hacking to make my payment lower each month. 

Thanks for any advice,

Blake Sullivan

Hi, everyone. 

I'm looking to buy a condo in Waikiki, especially in the Trump Hotel. Does anyone have any experience with renting out condos in hotels? I'm curious how the management fees are structures apart from the fee simple maintenance fees. Wondering what the pros and cons are, what vacancy rates are etc. Any help would be greatly appreciated!

Thank you,

Blake

I'm in Western Illinois. There are a lot of properties in the 30-40k range with some solid cashflow. 

Looking to get into some short term rentals in the greater OKC area. Anyone in that market that would want to connect? Would be interested to hear about strategies and returns. Would love to get a place near healthcare facilities and downtown areas. Look forward to connecting!

It’s not at all a bad house and if I can get a good deal I would be interested. I’m worried about my exit strategy though since I will have 2 buildings that I would have to sell at some point and it may be difficult to sell both together. 

There is a property in town that has a duplex (which I want), but it also has a house that is legally a part of the same parcel. What are my options of setting up a sale where I can get another investor to buy the house and I can buy the duplex? 

Small world! My aunt actually lives in Tampa and my Uncle owns real estate! Look forward to getting to know you and hopefully we could grab lunch the next time I’m down there

Hello BP members,

My name is Blake Sullivan and I am a Junior at Western Illinois University pursuing my MBA. I’m hoping to get my first deal done before graduating to build equity for future deals and the eventual purchase of my own dream home. I am most interested in vacation/short term rentals in warmer climate markets and travel destinations. I am looking to get into small single family or multi family properties in my local area. Please feel free to connect with me! I look forward to hearing your advice and am always willing to give my input on any questions you have. I hope to provide each other with great value! Thank you, Blake