All Forum Posts by: Riley Holt

Hello BP. I am starting to get my ducks in a row and plan to invest in rentals and maybe a few flips here or there. My brother who lives in CO will be my hard money lender. He will cover the down payments and rehab costs while I find the properties and manage the rehab/repair. I plan to use a management company for the tenants because I'm too soft. So my question is this. How do we split profits with rentals? I have a fair idea of splitting the profits on flips because its a one time lump sum. But how would I do that with regards to rentals? Any and all feedback is appreciated. 

I’m no expert but I wouldn’t give him anything. You are making the property better for his use. I would consider it part of being a renter. 

Thanks for the welcome. I’m looking forward to figuring this whole thing out. The thing about bigger pockets is that for some reason I am instilled with confidence to take on this next venture. Meant to post earlier but I’m looking at rentals right now. Not sure if flipping is on my immediate list of things to do. 

Hello BP community. My name is Riley and I am a native to Abilene, TX. I am a physical therapist and work at a local hospital here in town. My best friend has been encouraging me to get into real estate for the last 8 years but I "never had enough money" to even know where to get started. Even though I make a good living and am able to provide for my family, we always seemed to be spending everything I made. Well this last October I put my wife and I on a budget and it has been the greatest experience of my life. I can now safely say that I am living this month on last months income. Now I am at a point in my life where I feel like I can tackle the real estate market that always seemed to be so out of reach. The crazy thing about all this is that a patient of mine told me about bigger pockets and that really got the wheels turning. Couple that with the fact that out of the blue my brother contacted me with a suggestion to partner up on doing rentals. I am somewhat handy doing my own renovations at my house including tile work, drywall, expanding door ways, and building a shower. I look forward to learning all that I can so that I can secure a better future for my family for years to come. 

PS: I tried adding a profile pic like 5 times but it won't save it at the moment. Will have to keep trying so you can appreciate my Abraham Lincoln beard!