All Forum Posts by: Account Closed

Been following this thread, am also in a similar situation and trying to figure things out.

@John Blackman Sounds like you have a good amount of expertise in partnerships and have a really healthy attitude about how they should function. 

@Karen Margrave Wouldn't it be nice if there was a survey-type checklist to check off which responsibilities are your's and which are your partner's and at the end, it spits out a fair set of guidelines & profit split? Would be a good place to start negotiations.

Seems like there are 2 good ways to go about it fairly, not sure what's best:

1) Every role has a set compensation, mutually agreed upon by all parties before the transaction, and people get paid out according those roles, then profits are split 50/50.

2) Every role has a set compensation, and those $ amounts translate into % of equity. At the end, those % of equity are paid out and the profits split 50/50.

@Dale Shin Welcome man! Sounds like a lot of people here could benefit from your experience as well.

@J. Martin Just checking on the Mother's Day thing as well, will confirm as soon as I can, thanks!

@Jeff Greenberg

RSVPing for Peter K + 1, thanks.

@J. Martin Thanks for organizing...

@Emerson Miranda @Peggy Liu might be interested in this as well.

Duke's is a great location and isn't too far from the westside. The commute on a weekday could be a bit rough, but a weekend evening might be easier for most people. Just my take...

Thanks @Account Closed for starting this thread. Was looking for the same thing and thanks for the links everyone.

@J. Martin Great idea... 5/11 evening works, count me in. Where you thinking?

Thanks, all great advice everyone. I'll let you know what I end up doing.

Hi @Gabe Staats If you want to learn about the business while being a student, there are other ways. It's possible you could work part-time/intern in a real estate office or escrow company to learn about marketing or transactions and learn the ropes without having to put down cash for the courses & licensing. Often times the good brokerages will charge monthly/yearly desk fees. Having to cover the cost of all these while trying to perform well in school is a tough task.

Sounds like engineering will be your means of gaining capital to invest. I'd say treat that as the priority right now. You can gain tons of knowledge from the forums here and by networking with some real estate investors in your area, that's free. That's my two cents...

Even though it was a written disclosure, I'm a little concerned that your agent didn't explicitly talk to you about it. It's not a petty detail. You likely purchased the property based on comps for 5 bedrooms and the sq. footage. When selling, that'll likely change.

It will come into play someday when you try to remodel the house, when it comes time to sell, or if a city inspector happens to drop by. As long as you're comfortable with that...