All Forum Posts by: Joseph Vu

 Awesome, thanks 

Does anyone own any rental properties in Pike or Franklin Townships? I know a lot of these houses have HOA ranging from 13-25 dollars a month, but do any of them have policies against rentals?

Thanks!

If you have retirement accounts, you can also try borrowing from there.

I also stopped contributing to my 401k because I had no employer matching, so now that is extra money I can save up to put into real estate.

find a property that you are interested in, put the address on zillow, and then go to the "rent" tab and it should populate what houses are for rent around that area. You should be able to get a good idea of what the market rate would be.

yup it all depends on the person. Each asset has their own pros and cons...

MFH you have to deal with tenants vs tenants, lawn care... but you also only have less CAPex per multiple doors.

I went the turnkey SFH route but the cash flow was very minimal. I am now looking to purchase cosmetically distressed SFH and fix them up for a better deal.

Do you plan on managing these properties yourself? If not, I dont think you can qualify yourself as a business unless you commit a certain amount of hours into managing these properties, but make sure you check with a tax professional.

I would go with an umbrella insurance and then put the properties that I pay off into an LLC down the road.

So I found a great deal and my brother wants to partner up with me by putting up the funds for the down payment. I will not be putting in any cash for this deal. 

He does not want to create an LLC or structure some sort of partnership.

The loan will be under my name, but we will both be on title. Profits will be split 50/50.

May I get an opinion on this?

 thanks for the reply!

"Or, if you want to keep it simple, ask him to lend the money to the partnership rather than making a capital contribution. That way everything is 50/50 and he gets paid when you eventually dispose of the property or via cash flow. You can decide the terms yourself."

if i wanted to go with the simpler option, would I have to get it in writing, or can it be more of a gentleman's agreement? This is mainly for tax purposes.

No, it isnt an actual gift. I would basically be doing all the leg work and he would be the passive investor. Would we need to form an LLC? or Can we just put both our names on the deed as Joint tenants.

So my brother wants to partner up and fund 100% of the down payment for all the deals I find. We would both be on the deed. Would this trigger an tax implications? Would this count as a gift?