All Forum Posts by: Justin Spaulding

@Tyler Warne, you decide that! I have seen it done so many different ways. That's the cool thing of deal making. It depends what everyone is looking for. My last project I didn't have to put anything down, my investors put in $130,000 and that covered repairs and down payment. I sold them 50% of the shares. I kept 50% of the shares for being the manager and for bringing the deal to them and putting it together. I also get a monthly management fee of 8% revenue. Yes, my investors are taking a much lower return for not going out and doing a project themselves but they will take a 6% return on their real estate investments since it is not their go to thing....its better they have their money with me than in the bank at a 0% return. Best of luck man!

@Account Closed, awesome!!! Don't even think about anything less than a 4 unit. With $200,000 I would be looking for an $800,000 property. But reason why not to start with anything less than 4 units is because it is no harder to deal with 4 tenants as it is with 1 but the reward is SO MUCH greater! Be great in 2016!

Best knowledge is always doing! Go find a 4 unit to start with and dive in! Be great.

Way to go @Jacob Wayman - you can see my story on my profile - but I think people should always start with a 4 unit. Be great in 2016!

Our stories are similar - checkout my profile to see how I got started. Definitely start with a small multifamily, I would say 4 units! Be great in 2016! @Joe Kinzelman

Awesome @Ross Hall! The single family house - when you own it will you be living in it to start? If so it is not really an investment. I tell people all the time - and some argue with me - you should at a VERY MIN get a duplex and live in one side while renting out the other. Better yet, start with a 4 unit. A 4 unit is not any harder to manage than renting to 1 tenant but it is SO MUCH more rewarding. Best of luck!

Murphy Desmond is great, they are in Janesville and Madison WI and we used an attorney and his team there for years, until recently our attorney just switched firms and is now at Whyte Hirschboek Dudek. Both companies are great - you will pay more, but the jobs are always done in a timely fashion and correctly.

We have holdings in multiple states. We use a different LLC for each. In fact, even in the same state, we use seperate LLC's for all properties. From a liability standpoint you should DEFINITELY have an LLC, you don't want to put investment properties in your own personal name. @Craig Kruse

@Mark Rauch, invest in a place you might like to vacation to, so a majority of your vacation you can write off!

My goal this year is to buy >32 units, and continue to stash away all principal and interest I receive from other investments to reinvest into >120 units in 2017!

Be great everyone, happy new year!