All Forum Posts by: Reggie Maggard

@Scott Smith can you answer any of the questions that I posed to the other gentleman?

@Greg Dickerson ok what is considered an ‘active role’...access to all financials? Equal decision making? Equal percentage of all profits? How would a buyout look?

@Scott Smith hey thanks really appreciate it!

@Greg Dickerson ok so I’m wanting to do a security. Do I have to spend $20k to setup with a securities attorney? I would be general partner and they would be limited partner and I would buy them out in three years or less.

Can my llc, with 4 partners or so, put money together for the down payment on a conventional commercial loan? Will those terms be different that if an individual was doing it? Any Kansas City area commercial lenders that can discuss this a bit?

Hey here is some tornado advice...yes, we got a lot of that for a month or so every year. Tree trimming is something you need to pay attention to. I spend 2700 on a property recently...the trees they trimmed were fine...I left one tree untrimmed...by the parking lot...missed. tenants cars by 10 feet!!!! Get those trees trimmed...thats my tornado advice.

I recently used stoyko tree service...they were expensive but did a good job and on time. Btw...storms like crazy since them that would have certainly jacked my trees had I not done the right thing. In fact, the one tree I left alone, was completely blown over, broke at the trunk. It missed the cars in the parking lot by ten feet. That would have been some property management fun. So yea, Im a big fan of tree trimming as an owner/property manger.

1.  Get debt free and position thyself to put all income towards the down payment.

2.  Educate self in real estate, this site is a good start.

3.  House hack. You have access to va loans (3.5% down). Buy a 4 plex every year. Live for free and manage the hell outta this rig. 

Good luck and thanks for being a bad ***!

Ok, Im some dude over here in blue springs, watsup.  PM in this area blows, like these people dont care about your time or property, so if you go with pm, get used to that. 

The month to month things is fairly common. I charge an extra $20-30 if someone wants m-m. And they still gotta give notice, make sure that lease is tight. It depends on if you have a place that is difficult to rent, Im in a hot area so I dont sweat it. 

I like your 'make them earn it' approach, I just don't think most will go for it. They got big fish and a one unit investor will barely get their attention, just my opinion. I have fired about three companies/managers...I do it myself, its easy with technology these days. The hard part is finding handymen and vendors, but after that, get phat.

Law enforcement needs to enforce the law. I think a anonymous call is in order.