All Forum Posts by: Jeff McCaskey

@Jared Bestebreur 

From the sounds of it on BP people who partner with others who are strong where they are weak and vice versa.  Shoot just ask Brandon T. he loves them. But in any case, you just have to make sure you are all on the same page about the direction you want to go or what you expect.

You would probably need to look into how all the operations and legal and signature items will work with multiple members listed on the company docs.

You mentioned needing to make twice the money, might be true, however half of something is better than half of nothing right. Aside from that, having partners may allow you to progress faster than you would on your own as you are not likely full time in the biz yet might not be available all the time to drop your life and take care of something investing related but with partners you can address those issues more easily.

Many people have had great partnerships. If it doesn't work out you can always dissolve it and go on your own too - after splitting the assets.....

I would agree with both posts, and Grant is right about not trusting calculators to set your rent. You should call some people and get several actual rent figures for your area and then set the rent according to that.

I think you really just have to start talking to people about it and see where it leads you. Sometimes the people you thought might be the ones to approach aren't the ones you end up working with.

@Greg Christensen 

Hey Greg, are you open to other markets than the 3 you listed?? If so let me know. We might be able to put something together for yourself in Kansas. 

I think you can do it from a far. It will likely be more difficult and require more bravery than most new investors face but it's all about determination and it sounds like you've got that for sure!

Ok everybody, multi owners/managers especially need to input on this one.

HOW DO YOU HANDLE COMPLAINTS OF MARIJUANA USAGE IN A MULTI???? - MOSTLY ISSUES DUE TO BEING ABLE TO SMELL IT WHEN SMOKED.....

Ol Mr. Pro McCaskey here has had this come up a couple times in the past and just moved some new tenants into a unit today and tonight have complaints about the smell...

How would you deal with it?

Thanks!

@Ronald Hunt 

I joined for the pdf format resources to make my deals look more professional than an excel sheet. Did this for my banker, private money investors and for myself. That's what got me to spend the money to sign up, though I had been on youtube watching podcasts for some time.

@Ayodeji Kuponiyi 

Water is usually listed on a bill as water/sewer utility. Yes you should make that it's own category.

@Scott K. 

Hey my man, you just mentioned duplex in your second post. That is exactly what I was thinking when I wrote the first message but wan't sure to be that specific. Anyway that's what I did. I used 2K down, 1K I got from a buddy for a year at 10% and pd him off early, and used a contract for deed on it that gave me 3 years before I needed a mortgage and today that is my best CF property believe it or not - I sure wouldn't have said that a few years ago when I bought it - knew it would be alright but not the best lol.

Anyway, hollar man if you have thoughts or need something!

@Scott K. 

Scott, Hey man I'm sorry you're having a rough go of it right now. I've been there and done that, I was in my mid 20's so I didn't get hosed financially really but (it's not for public consumption type stuff) I got screwed pretty well. I was shocked, it was hard for a while, about a year really, and I enlisted in the military before finding out she was making a trail but reported for basic training etc after I found out she was leaving. Anyway it was a messed up deal.

I would urge you not to make any significant financial decisions right now that you aren't required to make. If you want to great but if you feel like you might not make the best choices at the moment maybe just letting the dust settle for a while would be good.

If you can get a job doing something that you have always enjoyed doing, even if it's not for anything to do with money, maybe just being around something you have enjoyed most of your life will bring some goodness to your life and help cope with things as well as keep your mind from more negative thoughts than you would otherwise have anyway right now.

If you can keep the income from the one rental then great, sounds good in my opinion. If you can save your family home and keep it that may save a lot of hard feelings about things too. Can you maybe keep the family home (103K) and split the income from the 800$ rental for a agreed period of time with the option to buy her out of her "half" of the interest in the property??

You can certainly get your income up with additional purchases and get loans as well. A good way to do that would be to find an area you like with cheaper property, say 30-50K range and use a contract for deed method and put 2K down per property and do several of these, it should boost your income and portfolio while you are letting the dust settle. Then you can pick up the big stick again after you feel like you've healed up from this life event.

Just some thoughts, hope you can get through all this without to much difficulty.

Best of luck and keep your chin up!!

Whatever makes a deal unprofitable........