All Forum Posts by: Jimmy H.

Correct me if I'm wrong but I believe Yan is focusing on private partnership / LLC investment, not public REIT's and such.

I know that there are "business brokers" in my region. But they are generally selling the local subway or sports bar. To find private interest in LLC or partnerships for sale would likely be difficult and would most likely be found through networking. Hopefully people know some other, more efficient, means of finding partnership interests for sale.

Also, without statements being audited - how do you perform thorough due diligence?

There are probably a lot of cash strapped partners trying to cash out of their investment interests right now. One problem with such investments is their illiquidity, but this can lead to large discounts if you could find someone desperate to sell - valuation would be key but also more difficult. Hard to know exactly what you are buying into.

Perhaps you could find partners with a cash flowing real estate portfolio and LLC set up already, and no one is selling their interest, rather they may be looking to raise equity capital and you could partner up that way.

One long stick
One can of Raid
Shoes laced tightly
and your good to go.

Maybe even wrap yourself in cellophane and a fishing net to make things more interesting.

We all need a good adrenaline rush every once in a while, unless you've been eating too many cheeseburgers - could be dangerous.

I have heard some conversation on BP and other sites about people being broker/appraisers. In my experience the people who do have such accreditation do not end up appraising the homes they are acting as RE agent for.

My questions is this: If I currently work at a bank and am on a career path that will potentially allow me to become a commercial broker, and am also a newly licensed RE agent with plans to become a broker in 2 years time, does this cause any issues? What are the potnetial issues, if any, if I was both a broker and loan officer?

Blogging is the new hip thing, and I have heard many agents mention this idea and note the great results they have with it.

Problem is - I have nothing to blog about. I don't want to have a a blog full of BS I would want it to be useful info. What can I blog about that people will care about or care to read. Problem is there are so many blogs, how do you distinguish yours from the content everyone else is putting out there.

You mentioned "linking" a blog. How exactly would this work?

Also, keep in mind that I will be doing this part time and may not have time to pursue some of the more traditional ideas that full time agents use. And in addittion to that, I am a new agent so - if I try to develop a relationship with a moartgage broker or someone to refer me, they likely won't really refer me because they don't know that I am any good or experienced as an agent.

What do you mean be "cracks running at angles". What type of angles what exactly do you mean. How can you tell one crack from another?

I am fairly aware of what things cost in general, but being as he has his such good relationships he can get things done for cheaper than i'd imagine, so it would be easy for him to tack a little extra on. I agree that trust would be key and I think this guy is fairly trustworthy.

Money for the flips would most likely be coming from me, primarily. But if he makes good money in his other construction businesses then he could potentially use some of his funds as well - that part is not clear cut. As for now, and the age we are, the money will most likely come from me as my parents will help back me. then that raises the question - why not flip these myself and hire him as the contractor but make sure he is keeping cost down?

50/50 seems to be the most simple and striaghtforward answer. Any other opinions?

A buddy of mine had his father pass away about 3 months ago and has inherited his entire construction business. (He was planning on being a CPA but sometimes life has other plans) My friend grew up doing construction under his dad and knows what he is doing, how to deal with contractors, and already has long standing relationships with good contractors in the area. I have confidence he knows what he is doing and runs a good business His business is primarily new contstruction, he's not a big company but builds about 20+ homes per year from the ground up. In the past month he has established a remodeling arm in a seperate LLC in order to expand his business in that area.

I have been thinking about a way to partner with him as we are both young guys, and it could prove to be a great LT business opportunity.

My first thought was to set up a JV LLC for flipping properties in our region. I am a Finance/Accounting guy and can do the business side of things, looking at houses, doing our taxes etc. His expertise and relationships with contractors will cut costs and get the job done right.

How should I structure this type of deal? 50% of the profits? My concern with that is that his remodeling arm would be making money on the work and then taking 50% of the profits of the flip as well. I need to brainstorm (with the help here on BP) as to how to set up a deal with this guy and start building a business.

Also, 2 other partnership ideas - I have thought that once we have some more capital between us we could get into some buy and hold endeavors - say apartments, and use his contracting teams for maintenance, etc. and establish our own LLC and hire 1 guy to internally do the property management.

Also, there's lots of money in big contracts/government contracts. I know you have to get bonded, but how does that work, how much money is needed, and how could I partner up with him to potentially get into this side of the construction.

I know this is a bit broad, but I want to get into these business areas but do not want to run a construction company myself as my job. I want to stay in banking and money management but leverage my relationship with this guy.

Thoughts? Ideas? Suggestions?

Perhpas I need to be a bit more direct in order to get any answer:

After finding an owner's name (via PVA or else)
WHAT IS THE BEST WAY TO GET AHOLD OF AN OWNER IN PREFORECLOSURE?

Wellp I guess me being the only investor with any remote interest in the OTR can mean only one of two things: i've struck a gold mine of an idea and should keep my mouth shut about it, or i'm an idiot and should let the idea go.

Thoughts?

Yes, the baby boomers have had a market crash late in their lives; The timing of which is most unfortunate.

THIS POST though, is about GENERATION Y, and how to invest according to what gen Yers will want and what will be disareable in RE for the next wave of "baby boomers"