All Forum Posts by: Robert Kemp
Robert Kemp has started 6 posts and replied 18 times.
Post: How to Structure a Partnership
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Jaycee Greene:
Quote from @Robert Kemp:
Quote from @Jaycee Greene:
Quote from @Robert Kemp:
I have a friend interested in partnering with me on a deal. I've invested in 2 properties 1 SFR & 1 Triplex. I currently manage them both and am experienced with the whole process along with finding deals and analyzing them. He has been saving his money for years and has plenty of money saved but no experience with real estate investing. I was thinking he supplies the down payment and acts as a silent partner. I am the boots on the ground, managing the property and doing everything in between. Then after that we split cash flow 50/50? How about repairs ? I want to structure this as concise as possible. Thank you in advance!
Hey @Robert Kemp! This is where the fun begins in real estate! It's very hard to say if a 50/50 cash flow split is good without seeing the numbers for the project. Also, do you plan on putting a certain % of the equity into the deal or will your LP put in 100%?
I don’t plan on putting any % down right now at least. I appreciate any input!
If you're not putting anything in, then I'd expect that your friend would want to get all of their capital back before you start splitting up the distributions. You might suggest that once they get their money back, you split the first $100k (or whatever number makes sense in your deal) 25/75 where you get 25%, then anything over $100k, you split 50/50.
@Jaycee Greene I see so at least until he’s paid back the down payment I’d get let’s say 25% and once he recoups that money we go 50/50?
Post: How to Structure a Partnership
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Robert Kemp:
Quote from @Jaycee Greene:
Quote from @Robert Kemp:
I have a friend interested in partnering with me on a deal. I've invested in 2 properties 1 SFR & 1 Triplex. I currently manage them both and am experienced with the whole process along with finding deals and analyzing them. He has been saving his money for years and has plenty of money saved but no experience with real estate investing. I was thinking he supplies the down payment and acts as a silent partner. I am the boots on the ground, managing the property and doing everything in between. Then after that we split cash flow 50/50? How about repairs ? I want to structure this as concise as possible. Thank you in advance!
Hey @Robert Kemp! This is where the fun begins in real estate! It's very hard to say if a 50/50 cash flow split is good without seeing the numbers for the project. Also, do you plan on putting a certain % of the equity into the deal or will your LP put in 100%?
I don’t plan on putting any % down right now at least. I appreciate any input!
Post: How to Structure a Partnership
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Jaycee Greene:
Quote from @Robert Kemp:
I have a friend interested in partnering with me on a deal. I've invested in 2 properties 1 SFR & 1 Triplex. I currently manage them both and am experienced with the whole process along with finding deals and analyzing them. He has been saving his money for years and has plenty of money saved but no experience with real estate investing. I was thinking he supplies the down payment and acts as a silent partner. I am the boots on the ground, managing the property and doing everything in between. Then after that we split cash flow 50/50? How about repairs ? I want to structure this as concise as possible. Thank you in advance!
Hey @Robert Kemp! This is where the fun begins in real estate! It's very hard to say if a 50/50 cash flow split is good without seeing the numbers for the project. Also, do you plan on putting a certain % of the equity into the deal or will your LP put in 100%?
I don’t plan on putting any % down right now at least. I appreciate any input!
Post: How to Structure a Partnership
- Investor
- wantagh
- Posts 18
- Votes 6
I have a friend interested in partnering with me on a deal. I've invested in 2 properties 1 SFR & 1 Triplex. I currently manage them both and am experienced with the whole process along with finding deals and analyzing them. He has been saving his money for years and has plenty of money saved but no experience with real estate investing. I was thinking he supplies the down payment and acts as a silent partner. I am the boots on the ground, managing the property and doing everything in between. Then after that we split cash flow 50/50? How about repairs ? I want to structure this as concise as possible. Thank you in advance!
Post: Adding Solar to a Buy and Hold
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Brian Davis:
I am told that there is a 26% tax credit with a new solar project along with the ability to depreciate 87% of the cost of the system in the 1st year. Is anyone out there doing this?
@Brian Davis I'm interested in this as well. Did you end up doing this ? I'm curious to hear how it played out.
Post: Should I Consider this Tenant?
- Investor
- wantagh
- Posts 18
- Votes 6
Thank you for the feedback! I have been consistent with my qualifications and use RentRedi to streamline it all. I didn’t know about turbotenant though. That’s definitely good to know since RentRedi does charge for listings.
Post: Should I Consider this Tenant?
- Investor
- wantagh
- Posts 18
- Votes 6
I appreciate your input. FB marketplace seems to be getting the most responses.
I understand what you’re saying. So I’ll have to explain these qualifications ahead of time to avoid discrimination?
Post: Should I Consider this Tenant?
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Jason Wray:
Robert,
It’s a good rule in theory but it’s not a fail safe. If banks used that rule not many people would have a mortgage. 2.7X is still a safe number.
Post: Should I Consider this Tenant?
- Investor
- wantagh
- Posts 18
- Votes 6
Hi all,
My question is pretty simple. I have spoken to someone via FB about my rental and they answered my pre screening questions well. They seem like a good fit. The only thing I’m hesitant with is their monthly income being 2.7x the monthly rent (plus 5-10% annual bonus which brings it closer) been following the 3x the monthly income qualification. Although, are there exceptions to this?
Thank you in advance!
Post: Inherited Tenant Late on Rent
- Investor
- wantagh
- Posts 18
- Votes 6
Quote from @Bruce Woodruff:
Get her out. She sounds like a giant PITA who will only get worse,
This is actually a gift to you - gives you a very valid reason to get rid of a bad tenant.