All Forum Posts by: Mason Hofer

Thanks, @Ben Rhodin. I appreciate the comments. I agree that 5 people is a lot - we started with 3 of us, all younger and less experienced. A member's parents had years and years experience flipping houses in Denver, so we teamed up with them on our first deal out in Fraser. We then continued with the whole group, figuring that the profit split would be palatable if we developed as much of a hands-off operation as possible in KC. 

As far as your question about what the group is providing me. For some background, here are the rolls as they are currently:

Member 1: Most responsibility by far. Has identified the KC market, set up relationships with GC, realtor, and lenders. Is finding deals and executing on them. 

Member 2: Reviews GC quotes and provides suggested objections/alterations in scope of work. 

Member 3: Interior design and scheduling company meetings.

Member 4: Interior design. 

As you can tell, the responsibilities continue to get more slim as the list goes on. The group is putting pressure on me to assume equal responsibilities as member 1. While I recognize that this effort will be required in any RE pursuit, it does feel that I wouldn't necessarily need 3 other members divvying up a relatively small amount of leftover work. I think it could absolutely benefit myself, and the group, if I were to break off. I would see more financial benefit and so would they. I think the thing keeping me in the group is the collective expertise. It is hard to leave an environment where the experience really does support my endeavors, though I am confident that I would have to resources to pursue a similar objective with a leaner operation. Many have done it before me. 

I am part of a group who has begun flipping houses under an LLC. We started with a condo in Fraser, CO, and have since started our first flip in KC. We are all based in Denver, CO and are flipping remotely. The reasoning behind KC was the property cost. Arguably less profits on a single property, but money goes a lot farther there than Denver and we have the opportunity to flip more than one house at a time. We can build our portfolio and experience and use that to leverage OPM.

We have our roles and responsibilities of the LLC locked in with the new KC business plan. There are 5 of us. My issue is that I have found myself without a role and am feeling pressure from the group to add value, or get out. I provided physical contribution with the flip in CO as we did most of the work ourself. My original contribution to the KC effort was developing relationships and interfacing with PMs and traveling to KC when necessary. Now that we are focused on only flips, and only flips out of state, I have been left without much to do.

I could use some BP help! I have had some ideas; identifying a new territory for flipping and develop necessary relationships to start bringing deals to the table, look for rental properties in KC to diversify our investments, focus on CO to find the right deal when we have the right amount of capital. 

We don't have an incredible amount of capital to work with, hence KC, and I don't want to step on anyone's toes or double up on work. I would love to put the work in and find a way to add value. Any ideas would be appreciated.

I am mainly looking for a GC so that I don't have to work as hard to manage the rehab out of state.

Hi, I am an OOO investor from Colorado looking to buy and rehab properties in Kansas City. I am looking for any recommendations on contractors in the area that specialize in working with investor to rehab properties up to rental status. Reach out if you have any recommendations.

Investment Info:

Single-family residence other investment in Littleton.

Purchase price: $420,000
Cash invested: $21,000

First house that has a rental in the basement

What made you interested in investing in this type of deal?

it was house hacking. I am having someone pay half my mortgage while i live here and fix it up.