All Forum Posts by: Kelly Beasley

@Gail W. lol, OCD? Me, NEVER! 😂 I definitely have OCD tendencies but not when it comes to business. When you say professional construction management, are you talking about the contractor? Or do you mean us doing the work ourselves in certain areas? Thank you in advance.

@Lynnette E. thank you for your input. Yes, the parents would definitely get interest. And possibly a small percentage.

All of these ideas from everyone are very encouraging/thought provoking for me. So thank you Lynette, and thank you everyone.

@Daniel Zapata great thoughts, Daniel. Everything is official in our current partnership, I imagine we will do the same if we partner to do real estate.  We work SO well together. It’s uncanny. 

@Account Closed lol! That’s the perfect way to ruin our friendship. 😂 MARRIAGE!!!

@briangerlach thank you. Great input.  I think half of my issue is I’m afraid to do it alone. He really doesn’t have any capital to contribute. What he would bring to the table is help in choosing a property, reassurance that the numbers are right, the decisions are well-made, and he can/will be able to help out with some of the physical labor. IF he’s even interested in taking a project on.

You’re right, it would be difficult to figure who does what percentage of work. I know we would work it out, however we decided to proceed. 

It just feels like there’s SO many decisions to make to choose an investment property. Even deciding which plan would fit best for the money I have to invest, my lifestyle, and how much I do/don’t want to have to put into it monthly. That’s not an easy decision.

Everyone says you should know exactly what you want to do, have a specific plan, a specific area picked out, and have your team set up ahead of time.

It feels to me more like I’m going to learn along the way and I just better jump in and do it. That first property teaches you so much, it’s invaluable. Still, I’m looking for ways to figure out what first plan of attack would be best. 

Definitely feels like having a partner in crime would be beneficial. But what do I know? 😐😔 Trying!! 

@Theresa Harris good point about the interest! Thank you very much for contributing here. 🙂

Hi @Mark Albini! Thank you for your reply. Yes, he is someone I basically consider family at this point. True, I would want to get my initial investment back as well. Heck, I am finding that trying to find any kind of great deal is quite difficult. This is why I want help. A second set of eyes/ears. Thank you.

Hey fellow real estate freaks!

Ok, so I did a search already about doing investing with a partner. Not quite finding my answer. And I'd just like to hear what your input is  about this. 

I want to start investing. Yes, it's scary. I lost out HARD on a deal back in 2004 (Because, you know, EVERYONE was doing it. So I did, too. Didn't do my due diligence/research, just jumped onto the bubble bandwagon)

Like many of you are (I'm guessing), I am much more cautious now. I am a BP member, I have a couple books (One is BRRRR, which I think is a FANTASTIC plan, but it feels too risky and expensive for a/this beginner), and I am soaking in all the BP podcasts and info I can get.

Still, it's hard to trust my own judgment. I get excited about properties easily. May jump in even if the numbers aren't quite that great. 

SO- I have a friend who I have done business with for the past 4 years. We work together BEAUTIFULLY. We are extremely invested in each other. We have done well with one company we own. 

I think that RE may be a great way for us to diversify our portfolio. However, I would be putting up all the capital. He may be able to contribute a little, but I have the bulk of it. (@50K) 

Maybe a flip would be best to start? I get a mortgage on a property, I have the $ down, he helps with search, numbers, record keeping, management of the contractor, we do some of the work ourselves, etc. Maybe his parents could loan us $ for the remodel. I just FEEL like it will be easier with a partner. 

That said, would you do a 50/50 split? I do happen think that this is fair. I know he would hold up his weight in all of the efforts. He's a very committed worker. 

I'm just not sure of the percentage split. I want to be fair. 

How would you split it? 

Thanks so much, you guys on here are 100% amazing with all of your answers and help! (I DO know that percentage, lol!)

-Kelly

I'm sorry, I really want to come, but without knowing if it will be inside or outside, I don't want to risk making the drive.  😔

Hi Matt,

Regarding tonight, I see that there's an outdoor area at the bar. Will we be outside? I sure hoping so, due to COVID concerns. I'm not sure I want to risk coming if it's an inside event.  Thanks!