All Forum Posts by: Jessica Fatel

Glad you posted this, @David West. I am also wanting to learn more about this type of investment, if even just as a way to "pay for" vacation homes for my family. 

Thanks, @Rob Lane, @Robert Leach and @Brandon Johnson. I appreciate all your feedback and insights.

Thank you,  

@Tami DuBose. Yes, I will be in touch with that parish's permit office, for sure. I'm interested in what you're saying about being able to pull multiple permits without being a GC. My mother has twenty something buy and hold properties in northern Oklahoma, and she is also able to do this. 

I like your idea about bonuses as motivators for the GC. My partner and I have not yet sat down with him to talk about involvement and pay structure, but want to be able to come up with options that serve everyone...

And yes, I plan to sit down with an attorney and have each of our roles/obligations thoroughly drawn out before any deals are penciled out. Sounds like I need to read as much about it in the forums as possible, too! 

Thanks, Adam. I'm trying to find all the building permit info for that area, so I can see what we really need. Do you think a general contractor is better than a project manager for overseeing the rehab process?

To clarify, as far as what each partner would bring to the table, I would be supplying the financial backing for these deals. My partner would be our "feet on the ground" in that town, help find deals, and act as project manager. So I'm trying to figure out if and how the GC factors into the equation.

Hello all you awesome investors! I am ready to do some flip and/or brrrr deals with a partner in Louisiana. I'm trying to understand how the permit situation works. 

My partner is a project manager for a custom home construction company in Louisiana and she wants to get into real estate investing. She doesn’t have the money or the credit yet, but she DOES have project management experience, relationships with local materials vendors and subcontractors, and access to a licensed general contractor if we need him. I’m just trying to figure out if we need him. Does a GC pull all the permits for a rehab job, or do individual subcontractors obtain them? If a GC is not necessarily needed, what are the advantages/disadvantages to working with one? Like I said, my partner has plenty of property management experience. 

If we are to use the GC, should he be included as a partner (assuming he wants to be involved ongoing), or would he get paid like a regular job? Does anyone have any experience with a three-way partnership deal like this? I'd love to hear your thoughts! Thank you in advance!

Thank you @Todd Hannebaum and @Kevin Grinstead! I look forward to meeting and making friends with all you fellow Denver investors!

Thanks for the welcome, guys. @Bill S., yes, I've been listening to the podcasts and have started reading the UBG. Thanks for the input about meetups. Maybe I'll hang back for a while until I have a more specific game plan and THEN go make all the friends! I look forward to being an active BP member :-) 

Is it that Millennials prefer to rent, or that they are having a harder time saving a downpayment for the purchase of a home, especially given inflated rent prices in so many areas? I don't think it's that they aren't interested in owning real estate. 

Hello Bigger Pockets gang!

Jess here! My husband and I have recently relocated to Denver, Co from the NYC area for a change of pace and scenery, as well as a lower cost of living (therefore, a greater opportunity for investment). My background is in sales and I have no real estate investing experience, but am inspired by my mother, who has acquired over 20 rental houses in the past 6 years, and is yielding a decent passive monthly income from them. With the sale of our NYC condo, we are looking to make some wise, modest investments and work towards growing a successful, well-rounded portfolio. 

Perhaps someone could advise me on whether it would be advantageous to attend one of the local Denver area networking events at this early stage....I want to jump in with both feet and pursue this as a full-time endeavor, but don't know exactly how to start. 

I look forward to interacting with this community and continuing to enjoy the great tools and education here at Bigger Pockets!