All Forum Posts by: Percy N.

Originally posted by @Account Closed:

Originally posted by @Percy N.:

Trina C. , try to do a Joint Venture with someone who can bring capital, contractor skills, project mgt, or a combination.

It will allow those who do not have the time to devote to real estate but still want to get involved a way to do it - through you.

 I would imagine that most people open to a joint venture would want someone with some experience, though.  Wouldn't they?

 True, however if you have someone with more experience than yourself who is willing to put in the time, that is a huge plus.

When I wanted to get into REI, I myself provided the capital (private lending) to a trade person who wanted to flip houses but didn't want a hard money loan.

  There are steps you can take to protect yourself as the investor (deed in investors name, progress payments on rehab, etc).

   Not saying this is an easy option, but an option nonetheless.

Trina C. , try to do a Joint Venture with someone who can bring capital, contractor skills, project mgt, or a combination. It will allow those who do not have the time to devote to real estate but still want to get involved a way to do it - through you.

What is the ARV of the property? Most banks will require a loan of min $50K. If you purchased it less than 1 yr ago, they will only offer 90% of purchase price.

Thanks @Darrell Shepherd and @Account Closed.

Do they also work US hours (EST)?

@Account Closed is your VA on-shore of off-shore?

Do you mind if I ask what the hourly rate range is?

Disagreements in partnerships happen all the time and it is even more likely to happen with family (which is why I do not do business with family).

If you are confident in the number on the house, see if you can structure a deal to buy him out, it will lift a (perceived) burden off his shoulders.

As for possible addiction....can't help much there, take a counselor's advice. 

@Tony Ku, typically the broker does not charge the buyer anything, their commission is paid by the seller, not alway, but almost always, especially for HUD.

HUD will even pay for title insurance if you use their title company.

Vilson Nikollaj , Talk to your accountant, but I would pay him as a contractor for his services and issue a 1099 Misc for the $3000

Talk to your accountant, but I would pay him as a contractor for his services and issue a 1099 Misc.

Welcome to BP! Also a friendly reminder that typing in a all CAPS is like shouting on forums.