All Forum Posts by: Ketan Patel

I would make sure to get a consultation with an attorney. Key to a good partnership agreement is discussing lot of things in advance, like death/disability of a partner, dispute resolution, roles, profit distribution, etc. This are very basic things but depending on your particular situation, your assets, relationship with your partner,etc there are more things that an attorney shed some light on. 

I don't know the area but I will suggest to start looking at your financing options as well. Getting some quotes to know how much you can borrow and at what interest rates, etc. Also, calculate the delta between owning and renting and make sure there is some gap. 

@Account Closed, Unfortunately, I  don't have experience with any block-chain with Real Estate. Will be interesting to see how they turn out in coming years.

@Nick C. In that scenario you might want to consider borrowing for longer term 30 year and borrowing as much as you can. Yes you will pay little extra interest but it will be worth while in the long term. 

Basically you are making money in real estate by the spread generated by the income in property and capital cost.  Borrowing at 5.125% and using that money to generate more cash flow, appreciation,etc will get the ball rolling for you. Hope that helps!

@Jonathan Edmund Try to find out few agents with most listings on Homepath in your local area. It might be a good idea to build a relationship with them and get some advantage in this competitive market.

 Try to get references for their work if you can. If its a bigger project you can add a deadline or draw up an office contract with penalty. Depending on market condition, if GC demand is high then they won't entertain anything like that. Also, always get 3 quotes. For smaller jobs you can try thumbtack. Good luck!

There are some startups working on bringing Blockchain technology for faster and efficient commercial real estate closings.  Here is one :  https://www.ubitquity.io

At minimum you should get 3 quotes to compare everything. 

Best option will depend on answering following questions :

1. What are you planning on doing with the cash after refinance ? (Investing and if so what kind of cash on cash return will you generate, future potential, etc )

2. What is your long term investment/portfolio goals ?

3. Your risk/return preference ?  

You choice should be ultimately be driven by what you are planning to do with refinance cash.

@Justin Garrett I would recommend using Buildium if you are plan is to grow your portfolio aggressively. It will be an overkill in the beginning to set it all up but it will save you lot of time on an ongoing basis. You can do tenant screening, all numbers, ACH payments and host of other features.