All Forum Posts by: Account Closed

A joint venture is a type of partnership. A JV agreement does not have to wed you to that group for any longer than you agree to. In other words, the JV can be for 1 project. As an attorney, I always recommend that people seek legal advice for legal questions. It's no different than seeking medical, go to the doc.

Please be advised that the information offered here is just that, information, and not legal advice. 

You don't have to use a turnkey's recommended management. And if you're not getting comps for yourself, then you're not really an investor, but a dreamer.

I would echo @Malia Arnold's comments. I do not recommend Craigslist.

Looking forward to learning about Del Paso Heights!

I house hacked my first property here in Sacramento a couple years ago.  I was able to get a duplex in a prime location, but the market was totally different then. With every investor looking to buy multi-families right now, I would encourage you to find other market inefficiencies. Use groupthink to your advantage! The type of market efficiency that would work in your situation is finding a single-family home that can be fixed up over time. You could rent out the rooms for your entire mortgage payment while you save up for your next purchase.

Would be interested to hear ideas of addressing those consumers who cannot afford market rents. Public (i.e. Measure H in LA) or private options (i.e. easing gov't development restrictions that would increase supply). For those of us in Sacramento, we see the homelessness crisis every single day. I think it benefits property owners as much as tenants to have housing remain affordable. Let's get those potential tenants out of motels and into our units! I'm not advocating for rent control in Sacramento, but I think we have to look how our business fits within the larger economic and social landscape of our community. 

Any agreement between you and your business partner would be a separate agreement from forming an LLC. Sounds like you and your partner need to hire an attorney to draft the agreement. Having an attorney draft and file your LLC would cost about $1,200. As a previous poster mentioned, doing it yourself would be cheaper. If you're looking to buy your first property, a LLC is likely unnecessary. In any event, good luck!

These expenses do not include vacancy, cap ex, property management, maintenance/repairs, or utilities. Actual monthly cash flow would be nowhere near $978. HVACs do go out. Roofs too. Gutters take a beating. Things happen with rentals. Not including all these expenses is not accurate and sets unrealistic expectations.

Congrats on being debt free! So many newbies want to invest without capital, but soon you'll be in a place that capital won't be an issue. Cheers!

I'm with @Jason Monroe on this one. How is this a killer deal at $360k for the investor (and not the agents involved)?