All Forum Posts by: Charles Carillo

@John James Gibson

If you find a syndicator that is interested in a deal you find and underwrite; you can ask them for a small piece of the general partnership. You could also partner with a couple different syndicators and underwrite the deals they find and be compensated with a portion of the general partnership once it closes.

@Calvin Schmeling

A joint venture can be setup as a partnership, LLC or corporation. Typically, you will setup a LLC. Contact your real estate attorney, tell them what your goals are, what you are looking to do and they will draft the LLC documents. The LLC is a business entity; it will have minutes, a bank account and will require bookkeeping of income and expenses.

@Daniel Dube

Get a copy of the lease and contact your real estate attorney.

@Adriana Mendonca

Contact your independent insurance agent and they will write a businessowners policy for you. This will cover the property and liability and medical expenses (usually up to $1 million).

@Mordy Chaimovitz

I have invested into mixed-use properties before and I like mixed-use properties where less than 10%-15% of the rentable square footage is commercial. It usually is easier to finance as well. Are the commercial tenants long-term? You need to allow additional time to rent commercial vs. residential. Start speaking to local banks and credit unions to see if they will finance it for you.

@Austin Jones

What is the value of the places going for $1200? The value of the property does not really matter most when renting though; it is really what the market rent is. If you feel your property is worth more, start at a higher amount and see how many inquiries you receive and the feedback you receive when you show it. You will know in the first 1-2 weeks if your price is too high. 

@Bryant Wright

Yes, speak to your attorney and have them draft the documents for you. Do they have experience with subject to deals?

@Adah N.

What was the keyword you used?

@Aradhna Vashishat

Ask them to provide you will some recent loans they have closed. Then check to verify through the city if they were in fact the lender. 

@Sarah Byun

Usually it is done by filing a quitclaim deed but I would really suggest having an attorney do it for you. You do not want any issues down the road.