All Forum Posts by: Jack Medford

Testing the event creation system

@Megan Hanson Yes, we have our next meetup on the 26th at 7pm. They are hybrid meetings - in person and zoom available. The in-person meeting will be at the back of the Brink Lounge in downtown Madison. Feel free to DM me your email and I can add you to the email list to get notified. 

Over the last 3 years, I've done a number of flips and wholesales almost exclusively through partnerships. It's been a mix of me being the boots on the ground and me being the money/experience. So far I've been in two LLCs and three general partnerships. 

I like doing these partnerships because they've allowed me to grow into a more passive partner. I've also been able to do more projects than I otherwise would have. But now I'm dealing with multiple tax returns every year, and I'd really like to simplify.

So... Hoping for guidance from other flippers. If I'm partnering with multiple individuals, what is the best option to keep things as simple as possible for my business? Is there a way to maybe form a single-member LLC that allows me to do projects with separate individuals without needing a new partnership agreement or LLC for each one?

Any help is much appreciated

Tom Tews with The Brick Kicker did a recent home inspection at one of my properties in Columbus, Wi. Pretty thorough. 

@Seth Bennett Depends on what you like to hold. You could use that for one down payment on a really solid rental in a really solid area. Or you could use it as a down payment for a couple of houses in a smaller market outside of Dane County. Columbus or Lodi are two that come to mind. 

Also, depends if you want your capital to grow rather than put it to use immediately. You could start flipping or even do some hard money lending if you feel comfortable with that. 

If you want more ideas, we've got a local meetup group that gets together every other week. I'm sure everybody there would be happy to give you their two cents. 

We're having our next official meetup this Wednesday at 7 pm. We're keeping things light and not having a topic, just a good ol' fashioned hang out with fellow real estate nerds. :)

Location: Paco's Tacos, 1331 Greenway Cross, Madison, Wi 53713

Day: Wednesday, 7/28/21

Time: 7pm

Hope to see you there!

Hi @Pat Stilp, welcome to BP! If been investing in and around Dane County for roughly 4 years, so if you have any questions feel free to reach out. 

Also, we've got a local group of investors that put on bi-weekly meetup groups. If you'd like to get connected let me know and I can make sure you're included on the next meetup invite. 

@Christine Ong Hi Christine. @Aaron Gooch and @Nate Shields are a couple that I've worked with in the past. We've also got a meetup group for Madison area investors that alternates between in-person and zoom. If you'd like to jump on the next zoom call and introduce yourself, let me know and I'll get you the info. 

@Amanda Turner Welcome to BP! I'm in the Madison area and help run a meetup group for local real estate investors. We've got a mix of beginners and experienced with a variety of backgrounds and strategies. Also a number of hard money lenders in the group. 

Even if you're not looking to join for a meetup I'm happy to connect on here and share contacts that may be helpful for you. 

Absolutely @Eric Veium! I'll send you a DM