All Forum Posts by: Niti Jamdar

Hello all!  

I'm considering partnering with my contractor on a flip.  We have worked with this contractor for 2 years, and he manages and fixes issues with our existing rental properties.  So we've built a good level of trust with each other.  The purchase price would be around $150k, and we would need to put in another $120k to rehab it.

My question is - how do I structure the partnership for the flip?  Do I buy the property, and he pays for the rehab?    Do we just split the investment down the middle?  Has anyone tried this before?  Any thoughts would be greatly appreciated!

Thanks!

Niti

Hi @Benjamin Cooper - thanks for reaching out!  Will pm you to discuss.

Thanks so much @Chris K.!  Hi @Joe White, would be great to catch up with you if you have time...will private message you to coordinate.

Hi @John Knisely...thanks so much for your response!  Will pm you my cell number, would love to connect.

Hello all,

I'm a real estate investor in Philly, and I currently own a few single family rentals in Philly. I'm looking to buy a multi-family property (around 5-20 units) in the Greater Philadelphia area.  Any recommendations for an agent/broker would be greatly appreciated!

Thanks in advance!

Niti

Hi all - I'm looking for a multifamily property agent in the Greater Philadelphia area.  I have a few single family rentals in Philly, and now looking to buy my first multifamily.  Any recommendations would be greatly appreciated!

Thank you!

Niti

Thanks for sharing Dan!  Portfolio lender option seems very promising.

Niti

Thanks @Daniel Dietz! Good to hear that regional banks are easy to work with. Will definitely check out the BP rental calculator. On a side note, you mentioned that you were buying through an LLC. If you don't mind me asking, did you get less favorable loan terms because of it, or did it not make too much of a difference? Every time I bring up using an LLC with my current lender, they tend to dissuade me citing unfavorable loan terms as a reason.

Thanks @Loren Davy!  That's very helpful info.  Would you mind sharing a balance sheet template that you use?  

That would be great, thank you @Christine Kankowski!