All Forum Posts by: Jeb Brilliant

@David Monroe and @J Scott Hamilton, thank you both. I was hoping that people would chime saying we should go in as 50/50 partners. He and I will have to talk about all of this but I understand that it would make most sense to split it per the amount we each contribute. 

Thanks again and please contribute more if you have any thoughts. 

Hi All, 

I may have found the right apartment complex to buy but I have no idea how to structure the purchase, ownership, monthly cashflow and selling it. I will manage the entire purchase and the apartment itself (not as a PM, just overseeing it), my friend will be totally passive. 

I don't have the $500k downpayment but my friend does. I can bring 10%-20% of the downpayment but not nearly $500k. How can I structure this? I want to be as fair as possible but I do need to make this worth my while. 

I've heard some people say you only need a little skin in the game if you're managing everything (again not as a PM) and you can split some aspects 50/50. Others say you just take the percentage you contribute and 10% for managing it. 

What have you done and what do you recommend? 

Thanks in advance. 

@Ryan Yetter I have a great agent in Indy I use if you are interested. I'm sure she'll be happy to answer any of your questions. 

Welcome to BP @Tina Encarnacion. Congrats on your decision, I suggest getting obsessed with listening to the podcast and start at number 1, working your way up. 

I invest out of state so if you have any questions feel free to ask on here, direct message or even a quick call. 

Good luck. 

@Anthony Gatt that makes a great deal of sense. Good luck and keep learning but take action. 

Welcome to BP and everyone is right about the podcast. Also I vote for Indy. 

Hi @Brandon StokerWelcome to BP. What kinds of properties are you looking for? I have an amazing PM, inspector, agent/broker and more in Indy that I'm happy to share if they are a match to what you need. 

Welcome @Stevan T.. I am pretty new myself but haven't gone the process of the LLC yet. My insurance lady wants me to but my tax guy says there's no need. Plus it's going to be around $1k/year to have it living in California.

I suggest calling your tax person and just asking what they'll need, it's like 5 single easy to track facts and just doing it all yourself. I have my monthly insurance on a CC so it just takes care of itself. 

If you need some recommendations for a team in Indy I'm happy to share, I built an amazing team from California. 

Good luck. 

Hi @Bill Manassero Welcome officially. I'm very interested in apartment buildings as well and have been investing in Indianapolis up to this point. I get emailed deals regularly but have not taken the steps to make a 100 plus unit happen yet. 

If you would like to chat I just live up in Long Beach and we could meet somewhere halfway. 

Welcome to BP @Nick Cassidy, you're in the best possible place to learn.