All Forum Posts by: Danielle Jackson

That is a great piece of advice from @Mitchell Goldstein. Wish I would have thought of that! 

Will the mtg be in her name as well? At the end of the day, the terms will have to be whatever she is comfortable with to get the deal done. 

You guys could maybe discuss starting it at 60/40 or 65/35 until her capital is returned, and then 50/50? Keep us posted on how your lunch goes! 

What type of a strategy are you looking at? 

What is your investment strategy? Buy and hold? That will certainly play a factor in the economics. Also, it sounds like she is taking all the risk given its 100% her capital, so I'm sure she will want that factored in to whatever split you agree to. 

Start getting your financial situation in order. SAVE...SAVE...SAVE and start working with a lender to understand exactly what you need in order to purchase that first investment! 

I can't speak for everyone here, but I was certainly no investment expert when I had my first property in late 07/early 08. It was my primary residence, in a soft (or almost non-existent) market, that I didn't want to lose money on. I have had the benefit of spending my career in REI/Financial Services, but I still learned some hard lessons along the way. Just make sure you can work the numbers on a deal. Being able to analyze a deal is crucial.

Hi Wyatt. Have you tried using the search feature within BP for how to get started in wholesaling? There has been a tremendous number of posts on the topic. 

It certainly has its benefits. But is it necessary to be successful? No. 

As @Eric Janson touched on. It depends on your goals (time vs. money). 

This is great! 

I would focus on the post house hack numbers during the analysis. Another alternative is factoring in the mtg/rent savings of what you were paying versus what you would be paying for your portion of the house hack. Either way, I would be looking at your long-term plan for the property, which sounds like is renting both units.