All Forum Posts by: Deontae Posley

@Joseph Bui intrested in detroit

@Reden Dionisio Yessir !

Hello everyone, my name is Deontae Posley. I have been an investor for 5 years, currently hold 7 properties. I will be attending the conference solo this year .Lets connect !

@Casey Penland I will be there. Lets connect !

@Alex Winfield thanks for the info. I’ll

Be there

@Yenn Reyes I am an investor in Norfolk. What type of interests do you have ?

@Timothy Allen I’m an investor in the area. I say go to a lot of the different meetup soups around from meetup.com and network with different people and learn from the presentations given

So I am at the point where people are looking to give me money to invest but I'm not sure the best way to go about it. I have a few different directions I was thinking. 

1. They invest as a loan and I provide a 10% return. Using this method, I was told to just use a promissory note. Once they sign this, is there a special way to receive the money or is it just a wire/transfer to bank account ? Also, is this the best method to accept a loan ?

2. 50/50 Partner on a house. I'm trying to avoid having to create and manage another llc/multiple llc's if multiple people will be investing. For ex: If I get 3 individual properties, I was thinking on partnering with 1 person each on each property to only have to split it two ways. I don't want to create 3 llc's for the 3 people. What is the best way to 50/50 with someone and avoid this ? I was thinking to put the loan in an llc I already have, and either create a joint venture agreement between that person and I, or add them to the deed somehow. 

Can anyone provide their experience and how they handled these things ?

Love it here in the 757

@Jason Sampson do you have connections with general contractors in the area ?