All Forum Posts by: Joseph Ojea

Hello guys! So I’m going to be buying my first 4 plex around February, in the Daytona Beach, FL area. It’s my very first one, so I’m just kicking off my business. I’m going to be going into this with one other partner, possibly two.. It has already been established that I will bee CEO, commander and chief.. So with that said, I’m trying to figure out how is the best way in can structure our contract. The loan will be for around $200,000. The loan all in my name, “I think” using my credit, all my resources for the Leander to see, “$14,000” etc. The part that bring me into question, is how do I decide who owns what percentage of the property.. I’ve decided to not call it a percentage of the business, because I’m not sure how that’s going to work moving forward, for the next property and so on.. But for this initial property.. “if the down payment was $10,00” and outside of everything else, I put in $9,000 And my partner puts in $1,000.. does that mean that he will own 10% and I own 90% ? Let’s discuss!!! :)

Hi Stephanie! You’ll be hearing from me personally soon.. Thankfully, I’ve been blessed with a good trucking job. I drive all 48, and can live wherever.. so I’m not going on blindly. I have a solid job with good income.. I’m starting to lean heavily towards the 4 plex idea.

dude, that sounds really good.. Can I YouTube this so called “House Hack” ? 

Thank you so much.. 

Yes sir I have. I haven’t had much luck though finding anything. I don’t know the best places to look. From what I gathered so far on YouTube and such, in thinking around 1,200,000 million.. I know this sounds like a lot, but I really have no idea what I’m looking at in terms of loans.. My credit is through the roof.. so the fact that I’m trying to get a loan for something that makes money, I’m assuming that will increase what I can get.. on top of that, I have three other live bodies going in on the deal.. so I assuming that would help us get more.

Yes sir.. while business is key, we’re wanting to have fun with this.. 

option A, buy a single condo, and pay for it while continuing to save. B, get a small duplex or 4 plex. C, shoot for a 15 or so unit apartment complex.. I guess there my biggest question.. Thank you so much

Hi, I’m looking to break into the business with my team, with out first complex. Haven’t decided on 4 plex, or apartment complex yet.. Will be going into business with three partners. Looking to buy somewhere in California. Ultimately we want to live there, and manage it ourselves.. I’m taking all the info I can get. We’re young entrepreneurs, so not a lot of cash yet, but my credit is through the roof.. What’s parts of Cali should I be looking? Should we shoot for 4 plex or apartment? I’m literally new to the game, and am looking for all the info I can get.. I live in Baton Rouge, and have 1 rent house. So I’m not a complete green horn with the business.. But am totally new to this multi family business.. Everyone, take your shots!! I’m all ears :)