All Forum Posts by: Frank Eimiller

That's a lot of bad news.... I would definitely get a second or maybe third opinion Brian 

How old is the home and who is managing it? I'm not sure exactly what repair or Cap expenses should run, but if that's accounted for then looks like a good deal to me! 

Sorry for bumping an old post, but i'm currently asking myself the same question

I found an AWESOME partner and i'm in it for the long haul-- I think the fact we're asking if it's okay to do it outside of an LLC means we probably already know the answer, and that is that we know we SHOULD.

Thanks for all of the awesome post and information everyone

Man this is awesome, really glad this worked out so well for you! 

This is great! congratulations 

My girlfriend and I moved the day after Christmas haha

Although, I can imagine most "normal" people try to wait for the Summer and Spring

If you can help it maybe give incentives for tenants to agree to longer (or shorter) leases for Spring and Summer turnovers 

Those are some very expensive and hard lessons

The finished product came out nice though! 

The only person too old to invest in real estate is the person that is dead! If you're committed to the strategy you want to use then you can still put deals together brother

I "overcame" this today! My friend from the YMCA (who is one of the bigger brokers in our county) recommended a mentor for me (a month ago..)

I finally called the guy today and we absolutely hit it off. We will be partnering together on my first flip and he's very knowledgeable about putting together good buy and hold deals.. He also has his RE license. 

Long story short.. If you're struggling with this, one phone call can be the difference from a positive and profitable real estate career and a career that never seems to actually start

I'm still a little confused on how partnerships work too. 

I think I've heard of a strategy like this and I like it: use their private money, give them a return on their money for 5 years and at the end of those 5 years you guys refi it and you take over their property. 

(has anyone else heard of something like that?)

Anyways, splitting cash flow on an investment might be hard.. Who pays for repairs? Who holds the cash reserves? How much cash flow will really go into everyone's pockets and is it worth it? 

I'm looking for answers too, I hope you figure something out!!