All Forum Posts by: Patrick Ryan

I'm in construction and can tell you there is going to be a lot of change coming to Camden over the next few years. They have already built a new school another being started now and a few more on the way. Holtec is being built now 76ers is currently building a new workout facility and a bunch more company's will be coming to Camden. I couldn't tell you what area to buy in but if you wait to get in this market you may miss out.

I don't have any numbers yet @Kurt K. because I haven't actually sat down with him to go over anything. He said he has some numbers for things and told me what some of them were, we talked more about personal things. He just showed up at my front door so I wasn't prepared to talk numbers. Once I get some numbers I will go over them before I agree to anything. What I was hoping to find out through bigger pockets was how to contract something like this so we can talk about that as well after going over some numbers. I have read a lot of threads on partnering but nothing when someone owns the property and has done some legwork already. It seems as if a Joint Venture Agreement or an LLC with Operating Agreement would work best? Another thing was if it would be ok for me to ask him to show me proof of funds. He said he has a 401k with enough to cover the project. Thanks for being interested to converse with me Kurt.

 @Greg Wake I haven't been to any REIA's but am interested are there any in south jersey?

@Kurt Kwart 

I bought the property 3 years ago with intensions to do it myself then shortly after had to spend money on my own house ripping my roof off due to mold in the attic. Ever since I've been falling deeper in debt because I average 8 months of work a year. As much as i would like to do it myself I'm kinda stuck. My wife works and has good credit so I was thinking about seeing what she could do but haven't tried that route yet. I've been laid off (again) for 3 months now and have been getting approval from pinelands and township for demolition of the house and just the other day was approached by a guy. He says he has a house that is being taken off of the foundation down at the shore and has capital to put towards the project although I haven't seen proof of either. 

Hello and thanks to all for the great information

I'm Patrick Ryan an electrician married with 3 kids. I've been on bigger pockets for a while but until now I haven't had anything to contribute or ask. I have some experience remodeling with family and friends and have completely remodeled my own home. I've bought a few homes all of which I lived in, mostly because paying rent doesn't make sense to me. I started with a mobile home sold that then bought a house rented that then bought another house which I live in now. I since have sold that first house but fell in love with the idea of using real estate as an income. I now own a property with a tear down but have no money to go further. I have been approached by someone that wants to be a partner with me on it but I'm not sure how to go about partnering with someone . I don't want to make my first post way to long with details but if someone could tell me where to post this question I would appreciate it . A special thanks to @Joshua Dorkin and @Brandon Turner for the great podcast I'm on # 78.