All Forum Posts by: George Red

Hey all, thinking it's not best practice to post a zoom link here in the forums. Putting the initial connect together for Feb 11th at 9AM PST, I'll reach out to connect with each of you directly to get your emails to send the Zoom. If we're already connected feel free to shoot me your email as well. Sorry it's a ways out but my anniversary is next weekend... priorities!

Looking forward to connecting.

@Jarred Bowman @Paulina L. @Matthew Sweeney @Lee Ripma @David Nutakor @Jewell Vold @Beck H. @Alex Gunnerson @Jhenyn Aquino @Diane Forgy @Justin Moy

Glad to hear so many people are interested in putting heads together. Quick poll... I realize getting calendars synced can be an issue so quick feedback and I'll do my best to make it as accessible as possible. Preference for week day or a weekend and preference for morning or evening. I'll get some feedback and put a Zoom meeting together. Feel free to reply here in the thread or message me.

Looking forward to connecting and I always feel there is power in numbers and this can be a value add for all parties. @Jarred Bowman @Paulina L. @Matthew Sweeney @Lee Ripma @David Nutakor @Jewell Vold



- George

Hey @Mercedes Williams, I hope it all works out for you. Was your intent to purchase a multi family and then owner occupy a unit or just purchase it as a purely investment property? Many moons ago I tried to work with Naca (this was years ago) and found it pretty tedious and ended up buying something without using the program. It can be narrow but in theory it's a great idea. 

Hey all, I've been buying investment properties in KC metro for about the past year and so far I've picked up some duplexes and a SFR. I live in CA (San Francisco Bay Area) and have visited KC and connected with an agent that I work well with. I watch the threads here and see there are active members taking action in the market... thinking there is an opportunity to :

* Meet other investors, swap information on what people are up to/working on.

* Get "boots on the ground insight" from other investors.

* Meet other investors that may have similar interest and may be open to taking down deals/properties as partners.

If nothing else it will be a value add to connect with other investors and share learnings and insight. I'm finding that with properties staying on the market longer, I'm putting in aggressive offers and getting traction... partnering with others to take down properties while there is more buyer leverage would be amazing given the landscape.

Please respond here or message me if you're interested, I'd really like to get something on the books. Looking forward to connecting.

Hey Luke, good question and super valid... especially if they have been a good tenant for years. They may have hit a small bump and will be good tenants for another 5, I would not rush to throw them out. More tenured investors may go black and white but I would let it breathe... I'm relatively new to investing and am going through it the first time myself. I gave the tenant a window of time and rent has not been paid and now I'm moving to evict but the tenant had been in the property for years (pre-dated me buying the property) so I was not in a rush to evict. I imagine over time if encountering similar issues over and over you may pull the trigger quicker. I hope it goes well for you.

Quote from @John Underwood:

So your buying it as a 2nd home with a 2nd home mortgage then you want to move it into as business entity (LLC). This could be seen as mortgage fraud.

@John Underwood I thought it was fairly common for people to buy an investment property in their own name and then move it to an llc… there may be an acceleration clause the bank can call but I thought buying and moving to an llc was not uncommon and not illegal.

I've bought 2 duplexes with a friend and formed LLC's with operating agreements etc.. We both put 50% of the downpayment and own the properties 50/50. For these duplexes I found the deal, the real estate agent, the financing, insurance, the lawyer and setup the LLC banking so I feel I did more than 50% of the work. It has not caused an issue because I value the learning I had to do to complete the above mentioned items.

My question is this... on any subsequent purchases where I'm pulling more than 50% of the weight, how much additional percentage (assuming 50/50 downpayment) would the other legwork be worth... 55/45 or how would the legwork typically be reflected in the deal. Thanks in advance, looking to buy more property with other parties and wanting to ensure the work I put in is reflected accurately.

Thanks in advance.

@Mitch Lickey are all of the meetups in person or some virtual... I'm out of state but still looking to connect with investors in the market and see what people are into. I was thinking of putting out a virtual connect forum but if something exists already no need to recreate the wheel.

@Warren Qi I recently closed on a vacant property and have chosen to use my realtor to help place tenants as opposed to Home River Group... my thought being that if they're slow to respond to me they may also be slow to respond to prospective tenants... learning as I go and so far the realtor has had the posting for about a week and a half in late fall/early winter and there are multiple applicants to sort through.

Sounds like a bad situation Brad... but the problems facing the contractor are exactly that... his problems. Through his behavior he's attempting to use your money to pay for his problems, it seems like you almost feel bad for piling on but I would consult an attorney and follow their recommendation. I would lean toward going the legal/court route as the person appears to be of low character and seems to be taking funds for for work they have no intention of completing. The dollar amount may make a difference too... if you paid him $1,500 that's very different than if you already paid him $25,000.