All Forum Posts by: Paul Bowers

Being here has been the best sources of education I've found.  You can read/research virtually any facet of real estate investing.  You can get into conversations on particular topics and questions.  You can meet people/mentors.  Hard to think of a better way to get educated, besides possibly jumping in and doing a deal, than spending time on Bigger Pockets.

@Account Closed, I'm confused as to why I would need a third party lender.  We are looking to do a flip.  He is willing to cover all costs but doesn't want to get his hands dirty.  I'm just not sure which way to approach my offer to him.

I have a friend who has some available cash. He is aware I have been starting my journey with real estate and has expressed some interest in possibly partnering on a deal. He has two young children, full time job, etc. and is basically just looking to provide cash and have me handle the flip. My question is how should I approach the partnership. Should I let him fund it completely, I do the work and split the profits or should I just treat him as a HML and offer to pay interest to use his money? How do you decide which avenue you want to pursue when talking with potential partners?

I know the guy I work with and I have had conversations about the range he would be willing to lend me, assuming the numbers make sense.  With that information in hand I feel comfortable being able to go out and look at properties and make offers knowing that the numbers will fall into my lenders acceptable parameters.

How about with a family?  Does each spouse need to meet the 3x or just them combined?

I maybe renting a SRF to three friends.  I will make each of them sign the lease but was wondering if you would expect each to meet three times the total rent or only three times their share?