All Forum Posts by: Matt Wyborski

Rob, thanks for your reply.

Really only looking to discuss the idea of the management requirements and the mechanics of executing a 50/50 split - not everyone's philosophies on partnerships or what everyone would view as "worth it" as I've been through this on other posts.

This post is just about executing the 50/50. 

I guess the root question is, can an LLC with me and my partner legally manage the property without a license?

Thanks for your help in advance.

A friend and I are under contract to purchase a rental property and plan to go 50/50 on everything. One of us will be taking the mortgage out personally, as to avoid deal with commercial lending.

From there we're wondering the best method to split the expenses and revenues down the middle. 

One idea was to form an LLC that would handle all of the business operations, and then simply split the profits of the LLC. (Note: not own the property out of the LLC, don't want to trigger a sale). However in Ohio, and other states, there is code that requires entities that provide property management services to have a real estate license. This sounds like it makes our initial strategy a bit problematic.

Do you guys have any suggestions how to to accomplish this split of expenses and revenues?

Thanks,

Yeah as I start to hear more and more about people buying houses around $50k-$80k I realize that the East Side is really not the place to do that simply because housing prices are very high. Specifically in Anderson, where I live. 

I guess this is true for all SFR... but it seems that if you can get in at the right price, people will pay very inflated rental prices to live in the Forest Hills School district which gives a property a better chance of cash-flowing. Probably not as lucrative revenue wise, but the tenant situation could be more stable because of the nature of the rental.

All a lot to process - I like you insight of you usually end up trading one for another (specifically return for ease of tenant management.)

Hello

I'm terribly new to the whole idea of real estate investing so pardon my ignorance to anything.

I live on the East Side of Cincinnati (Anderson). I know the homes in this area are a little more expensive due to the school district, but I think that could also make it a desirable rental property location for people who want to get their kids into the district.

The other thing that intrigues me about the East side is West Clermont getting a new school, and what looks like alot of dollars being put into the Eastgate area to make it more desirable. 

Does anyone have experience purchasing and renting turnkey properties in this area? 

Thanks!

Hey all!

I'm someone who is totally new in the Cincinnati OH area. I have done 0 deals so far, but I think that real estate investing is something that I could really enjoy!

I am from the Cincinnati area, and now work in the Cincinnati area so I've been here for a long time.

My goal is to eventually grow a portfolio that would make me completely independent from my current job. This is not because I don't like my job, in fact, I love my job. But merely want to build something for me and my family that we can rely on.

Excited to join the community!