All Forum Posts by: Zac P.

The amazing thing about real estate when starting young, is that you will be fairly young when they are all paid off! When that happens, wow, you will be rolling it in. I am turning 26 soon. I have a couple of properties, but nothing close to what you got Russ. This topic was motivating Russ. Thanks!

I always felt like my properties were cash flowing really well. Then I heard about this 2% rule and plugged in the numbers. My properties get close to it, but not quit there. Although, I am still very happy with my returns. It's definitely a number to aim for though! Good luck.

I am interested. Sounds great!

Thomas, thanks for that. It was very helpful!

Question, how much equity do you own of the property if you are putting nothing down? Initially I was thinking split equity 50/50, but after hearing people on here (and after thinking more), that might not be doable. When repairs come up, do you two split the cost 50/50? I guess ideally there would be some money in the LLC account to cover extra costs. Also, do you charge 8-10% management fees? What kind of properties are you looking to partner with? SFH, duplex or larger?

Thanks everyone for the helpful info! :)

This is true... Read anything you can get your hands on. I credit a lot of where I am now to Rich Dad, Poor Dad and other types of books. Stay tuned in here as well. When I first stumbled onto this site, I was wow, I found a gold mine here. Good luck.

I have had numerous people around me interested in investing, but do not want to do it alone (no experience). While I am no guru by any means, I know a lot more than the average person. I am seeing potential opportunities here to partner with people...

Right now I am all buy and hold. No flips or anything. I would love to try to get a silent, cash partner who basically funds the purchase (just a down payment) and pays closings cost, etc. I would manage the property (I am already a property manager). I would like to split ownership 50/50 and have a plan that in 5 years we would have some kind of exit strategy (sell, keep, etc). We would split costs (repairs) 50/50?

My question is, how have you guys partnered on these kind of deals in the past? We would be doing a SFH up to an 8-plex. My goal is to get into a property for 0 down. Being young, I am ok managing it and doing the "dirty" work. I assume a good option would be to open up a new LLC for our venture. Any helpful info would be much appreciated!

Had a tenant come in saying she was self employed (lied) and wanted to leave the trailer park because of the drugs around her son (lied). She said she was going to come in later to show proof of income and apply. Later that day I went to eviction court and saw one of my college buddies there. We started talking and turns out a he has a rental and the lady he was evicting was standing down the hall from us. I looked at her and it was the same woman that wanted to rent form me 2 hours prior. She looked at us and smiled. My buddy (first eviction) was like, "Wow, this is awkward". I told him, "You have no idea"! She came up to me and asked me if this is an automatic disqualifier... I told her I needed to talk to her landlord (my buddy) first, but that it's never good to see a future tenant in eviction court! Pass!

Thanks Jim. Is there any kind of upkeep with metal roofs or do they hold up well over time? I can't see ever selling this property, so reselling is not an issue for the foreseeable future. I would guess a metal roof would make sense.

I haven't gotten that far yet... It would be for a basic, ranch style 1000sq feet home. Honestly, I didn't know there were different kinds of metal roofs. I spoke with someone the other day who mentioned that he priced them out and they were close in price. Based off of that, he didn't see any reason to not get a metal roof for a long term rental.

My roof on my rental is getting a little iffy.. Looking ahead and know that I will need a new roof soon. I was looking at getting a metal roof compared to a traditional shingled roof. From what I have heard and seen, it makes all the sense in the world to put a metal roof on it for longevity and they are similar in price. This is a buy and hold, so reselling is not really an issue (in the foreseeable future). What have you all used in the past?