All Forum Posts by: Dennis Maynard

What's up Etan?  

I'd like to know this as well.

where are you?

Bank Statements, if corporate, you will get a letter from an accountant or bank manager.

The answer is in the question. What are your goals? If you are looking to utilize the cash immediately, then move forward with the SFR. If you are dying to get into a 4 unit, either look somewhere else, or hold out. Jumping into a 4 plex is always great, but if you are creating equity at the same rate, does it matter? Go back to your goals, review what is most important, and make a decision. If you don't have a plan, then make one. If a 4 plex came along, you can always sell a house and 1031 the investment in (provided you aren't living in it). Hope that helps.

Get a broker

Get an accountant.

The math is exactly that: 100/160 = 62.5% ownership to you the remainder to the GC.  You are controlling interest and make all the decisions.  They become a partner.  who is signing on the loan, you?  Then you are the general partner in the partnership cause its your butt on the line.  It's best to envolve an attorney to draft these agreements.  It's worth the money, and they will think of details that you won't.  You can use a letter of intent to lay down the initial structure to hand to an attorney, but if you don't know, then just go straight to the attorney.  There may also be a profit sharing structure as well.  Again, keep it simple, get good advice from an attorney.  The $1,000 is well spent and they have to pay their share of that costs.  Up to you on the others.  You will have to do an LP unless they qualify under the securities laws.

@Adam M.  I would think a guarantee for 6 months either in deposit or letter of credit would be normal.  Every deal is different.  I would just double check your due diligence, and keep reserves if it goes vacant.

Hi everyone, just wanted to know where everyone is investing and looking, and what type of product (SFR, 2 - 4 unit, commercial)?