All Forum Posts by: Account Closed

Is it within the scope of a real estate company who also has a property management company in their name to provide rental data and property analysis?

 What is SBA and would franchising and building the strip mall be harder?

Hello all, I am close to finishing my first real estate deal. It is an inherited home that my parents wanted to rent out. They did not have money for repairs, but my brother and I did inherited a large enough sum that it was not hard to offer to help with repairs. After a rental rate projected at $1550, we decided to start an LLC between my parents, my brother and I.

The deal is going to be structured as ownership of the property/company increases with each cash contribution for repairs/renovations. The home was going to be willed to us anyway and this way we can have ownership while providing revenue for my parents retirement. 

Thoughts? Was there another option that would have been better than forming an LLC?

Thank you Chad, 

Do you mind if I ask what region your contract property is located? 

We are at the beginning stages of inquiring about franchising. The franchise offers business plans and advice along the way. They also help with financing so I am not sure what they will suggest, SBA loan or not. 

Anchor stores nearby include a grocery, but all of those side spaces are leased, and there's a mall across the street.

There is a 2 year old Starbucks standalone in the mall parking lot and a Chic-fil-a that is being built also in the mall parking lot/block. My thought was to build a space for our franchise big enough to have something else leased there as the anchor. 

Living in Salina, Ks I am beginning to educate myself on real estate investing. 

I don't have any holdings and no preconceived notions on what works in town.

Out net worth is $750,000 with all of it in securities. My wife wants to open a franchise with Platos closet and Once upon a child, both are owned by the same corp.

The location is near a mall and all of the current strip malls are newly leased. 

Has anyone ever built a strip mall then leased one of the spaces with a franchise that you also own?