All Forum Posts by: Sean Tracey

@Marcel Theisen thanks for the informative response. Much appreciated. 

@Kevin Yoo I'm intrigued to say the least. Thanks for sharing those details. I do lean towards thinking if the remote partner isn't bringing all the financing, then they really need to be creative when it comes to generating and demonstrating their value. 

@Melissa Gittens no specific areas as of yet. For myself, I hope to allow the right people to lead me to the right locations. I can tell when I like the way someone thinks, so if I see people that are putting out ideas, info etc. that I believe are potentially profitable, I would want to invest with them in their local market if conditions allow. I'm more likely to be the "remote" partner because I'm not thrilled with anything close to me as far as buy and hold rental property is concerned. My goal is to figure out what value I can bring to the table in order to justify my half of the deal. 

@Sebastian Bedoya have you decided on a market for investing? I assume since you'll be managing it's in or around NJ. 

@Marcel Theisen at the risk of pestering you with another question, what was your process for determining the expenses? Thanks again. 

Hi @Sebastian Bedoya. Since I'm new to REI, my only advice is to think about what kind of effect this could have on your relationship with your sister if things don't work out. If you are confident you can both keep emotions out of it, then it could only help to have someone that you're close with to help out with REI.

@Chris Allard that certainly sounds like an interesting arrangement. I wish you the best of luck with it. I'd be interested to know some more about the PM arrangement. Does the 7% cover everything, or are there fees for things like placing a tenant, lease renewals etc?

@Chris Allard I'm obviously not knowledgeable enough to comment on your deal, but I'd be interested to learn if you've asked anyone else for feedback and what it may have been. 

@Marcel Theisen thank you for sharing your experience. That is most certainly positive to read. How did you go about analyzing the properties i.e. did you use a realtor, have access to the MLS etc?

What a community. Thanks for chiming in @Dawn Anastasi.