All Forum Posts by: Mike D.

I'm in the process of purchasing a property from a seller and neither one of us is using a realtor. The purchase price is $125k, which puts a 7% commision (3% buyer, 3% seller, 1% MLS) at almost $9,000.

Neither one of us can justify paying $9,000 to fill out the purchase agreement and schedule some showings. Nice to have, but IMO not worth the money.

I have an invesrtment partner wanting to invest about $15,000 along with my $15,000 in an equity sharing deal. We would set the partnership up in an LLC where I am the managing member and he is the silent partner. He is not interested in managing at all and would just like a 5% return on his investment for the next 5 years. The property is a 4 plex. Do you guys have a suggestions on how my partner willget his equity out? Refinance in 5 yrs? Also how would his investment be secured in the LLC agreement in case of foreclosure? Any and all ideas and suggestions welcome. Thanks

Sounds good. Would you suggest an equity sharing deal where the investor gets his money back when the property is refinanced? Or would a secured loan be better where the owner receives ongoing payments every month (dividends)?

I have an investor who wants to be a silent investor in one property with me. I would actively manage the property and he would simply supply the capital and receive dividends for the next five years. He would contribute contribute $15,000 to the deal and I would contribue about $15,000 to the deal.

I would like to have an LLC drawn up for just this one property so that the bank can finance the property using the LLC's capital (me and my partner's funds) as the down payment.

Is it possible to create an LLC for just one property?