All Forum Posts by: Christopher Kramek

@Khemaro N. Mind sharing the bank you were able to get to agree? I'm in a similar boat, trying to open a HELOC off one investment property to use to help fund other investments, but also having a hard time. The option to refi so that lender would be in first lien position might be something I could actually consider since rates are so low now. Looks like I should give Pen Fed a try too.

@Wala Habiby Thanks for the info! Definitely targeting the long term buy and hold strategy. I’ll follow up with you to set up a time to chat further.

Hi, my wife and I are just starting out with expanding into long distance investing in the Knoxville area, so looking to build a team and get some local advice. 

Two questions we have to start:

- Our original approach was to target cash purchases for distressed properties at the lower end of the market. But with the seemingly high level of competition in the area, as well as super low rates currently for financing, is there a case to be made for significantly more upside at the higher end of the market (ie. 300k+).

- 2 particular areas I have heard mentioned recently are Sweetwater and Cleveland...any insight into those areas for buy and hold potential?

The main reason we have chosen to focus on the Knoxville area is that we have local family there who have agreed to help with boots on the ground support to see properties, manage contractors, etc. It also makes the plunge into long distance investing just a little less scary! We have 3 rental properties so far in the Denver, CO area, but looking to really scale our portfolio now, and try our hand at the BRRRR method.

Any insights or advice would be much appreciated!

Hello! I have been following the forums and podcasts for about a year now, but this is my first actual post. I have a few investment properties under my belt (converting primary residences into rentals), but am now looking into scaling up and doing my first partnership on a buy and hold condo, and looking for some advice on how to the structure the deal, especially from an equity/profit share perspective.  

Some info....The initial investment of $40k (20% down pmt and about $5k in repairs) will be a 50/50 split between my partner and I. He will be completely hands off, while I will be doing all the work and taking on all the risk.  

What are the different options for structuring the equity/profit share in that scenario?  Do we each assume 50% equity in the property, but I get 75% of the profits (expected to cash flow about $250/month initially).  And what are some recommended avenues to get a formal contract like that drafted up?  I do not have a lawyer yet that i have worked with before.  Would greatly appreciate any advice!