All Forum Posts by: Lamont Marable

Hello Big BP!

How would you structure a deal if my partner is bringing in all the risk capital, DP and CC to acquire a 4-plex that we’re planning to convert it to 5 units?

I’m thinking 95% to 5% as without him the project wouldn’t have any wings. I was thinking I can bring the reserves and pay for the conversion cost and asset manage the project

Do you typically leave the cash flow in a joint banking account with your partner?

It's hard finding great 5-10 units right now in Cincinnati Ohio but there is plenty of patience. There is no reason to rush. I had a moment of clarity that could potentially open up to a great idea. What if I buy a 4-plex and convert a portion of the basement into an efficiency. Thoughts and what would be the ROI on my investment? How much would I have to spend on such a project?

Hello BP!  Has anyone successfully used your 401k to form a C Corp and inject those funds into your Real Estate business?  Another member on BP mentioned it so I wanted to know the PRO and CONS as I may be in a position to execute this plan.

Thanks @Joseph Cornwell for the information.  What do you think about Westwood and Price Hill?

For the JV agreement, one LLC is from MD and the other is OH. Thanks, @Steven J. Umaña

Does anyone know a good attorney or have a great contract?

I was informed that a contractor in Cincinnati Ohio does not need to be licensed.  Is that true or I'm mistaken?  I asked a contractor for his license and he said the state doesn't require it.  Please advise BP.

I'm looking at a 6-unit multifamily right in front of Maketewah Country Club on Reading Rd.  The neighborhood looks average with a Starbucks 7-minutes away which doesn't mean much.  Is anyone investing in the area?

I figured that but I swear I heard someone do it.  Thanks big @Percy N.

Quick question:  We want to do a "house hack" with an apartment building.  Simple right!  

Here is the twist!  Can we still get the 3.5% down if it's structured with my friend being primary on the loan and myself secondary as a business entity?  My friend will reside and I'll manage.  This is to avoid paying the 25%-30% down payment when using a commercial loan. The less amount of equity out of my pocket the better. We want to do a 5-12 unit building in Baltimore, Pennsylvania, or Delaware.

Thanks BP!