All Forum Posts by: Jimmy Ly

@Ned Carey thanks for the response! He definitely wants to do this moving forward so there will be opportunities moving forward. I do have the majority of my capital in etfs which I don't really want to sell. Regardless, what would you do if you were in my shoes? I mean, if you have someone who you trust and can take care of absolutely everything from aquiring, rehab to sale. I am not risk adverse at all but my girlfriend is a little more safe than I am.

Hi everyone, I've been listening to the BP podcast for a couple years now and I'm am finally financially ready to jump in the game.

My dad gave me an offer last night to either partner with him on his upcoming flips or give him a loan. It's a pretty sweet set up. My dad was a builder for over 10 years and has flipped countless houses and even built the house I grew up in. Since he's getting a little old, two years ago he became a realtor and is now killin it in that too. He recently got a crew together to do rehab work for his clients so he wants to get back into the flipping game. So I have pretty much everything covered when it comes to rehab, buying/selling and knowledge of the market. I just need to provide some operating capital.

Given my options, what do you guys think? My girlfriend and I will be putting money in but we're deciding whether to loan my dad the money (we discussed 8% interest only) or partner up. When it comes to the loan it's guaranteed but the payoff isn't that great. If we partner, there's a little more risk but we could make a lot more. I'd like to learn and get experience so I think this is a great opportunity to get my feet wet in real estate investing from my dad who has a lot of experience.

I'd love to hear any thoughts.

Thanks

Hi everyone, this is my first post here but I've been listening to the BP podcast for a couple years now and I'm am finally financially ready to jump in the game. 

My dad gave me an offer last night to either partner with him on his upcoming flips or give him a loan. It's a pretty sweet set up. My dad was a builder for over 10 years and has flipped countless houses and even built the house I grew up in. Since he's getting a little old, two years ago he became a realtor and is now killin it in that too. He recently got a crew together to do rehab work for his clients so he wants to get back into the flipping game. So I have pretty much everything covered when it comes to rehab, buying/selling and knowledge of the market. I just need to provide some operating capital.

Given my options, what do you guys think? My girlfriend and I will be putting money in but we're deciding whether to loan my dad the money (we discussed 8% interest only) or partner up. When it comes to the loan it's guaranteed but the payoff isn't that great. If we partner, there's a little more risk but we could make a lot more. I'd like to learn and get experience so I think this is a great opportunity to get my feet wet in real estate investing from my dad who has a lot of experience.

I'd love to hear any thoughts.

Thanks