All Forum Posts by: Tyler Kimbriel

@Daria B. is that a laminate tread or hardwood for the runner on your stairs?

Also I have a couple other friends that want to throw their money in as well. Would we just classify all of us and general partners under an LLC or is there a better way to structure this?

Thank you all for the help. @Bjorik Mutize @Michael Bishop @Taylor L.

Alright so sounds like the best route would be to just call ourselves partners in a purchase. He just wants to front the money and let me find, buy, renovate, and manage a property without any of my own money in the deal. Essentially he just wants to be passive.

So is the proper route to create an LLC between him and I as partners then have a lawyer draw up a contract outlining the percentage of ownership I get by doing all of the work? (after speaking to my CPA)

Hello BP, 

I have recently started my first house hack in a triplex in central Kentucky. Cold called roughly 85 landlords in my surrounding area to find my own off market deal where I could live for free to start off my real estate investing career. After sharing my small success with friends, I was approached by one with 200k that wants me to use for an apartment building. However, I have no experience with syndication. He wants to stretch his dollar the maximum amount by getting the largest loan he can with 150k and using 50k for renovations, then hold it until it would be time to refinance or sell, depending on interest rates and the market at that time. (not exact numbers, but that mindset)

My question is, how should I approach this opportunity?

Options:

-Should I attempt my first syndication by creating an LLC, creating a contract where I will have part ownership without any of my own money down, and find an apartment building to renovate and hire someone to manage? (currently reading "Complete Guide to Buying and Selling Apartment Building")

-Should I sway his mindset to instead buy a 2-4 unit (or group of SFH's) and use the BRRRR method?

I am not sure how risky it is to attempt my own syndication without a mentor and simply with knowledge from a handful of books and google. 

Thank you in advance!