Thanks Matt! I really appreciate the referrals.
Finding a solid Realtor and mortgage broker will be key for me moving forward. For book keeping, I am going to start managing my properties through quick books as you suggested and will hire an accountant for the year end.
Cheers,
Kevin
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I am in the process of improving my team and although I have worked with some great people, I really want to find professionals focused on investment real estate.
I live and focus on the Edmonton real estate market. If you have any recommendations it would be greatly appreciated.
Looking for...
Hey Matt,
Quick follow up to your last reply.
I am considering doing a JV deal where they qualify for the financing and we are both 50% owners. I plan to set up a separate bank account but I am not sure how that works with mortgage payments each month and cashing rental cheques.
Is it...
Definitely open to learning from an experienced investor. Hopefully when I join REIN I can explore these opportunities. I have worked in sales and digital marketing for a long time. I just need the real estate chops to round everything out :)
At this point I have two properties, one in Vancouver and one in Edmonton (joint venture). I have been able to manage them successfully and they have provided consistent returns. For my third property I could finance a townhouse by myself but a multifamily piece would have to be with a JV. How...
Thanks Thomas. I am currently traveling abroad in Asia but when I return I will be joining REIN. This network is the real deal and I can't say enough about all the great people involved. Cheers
Hey Troy. Congratulations on your first JV! I'm hoping to embark on my first one this coming year. Quick question if you don't mind. Did you set up a business account to manage the JV/finances or did you just use a personal account? Thanks for your help.
Thanks Cory and Sherilynn. As always your comments were very helpful!
I did a little research and found some additional information on deal structures specifically for multifamily properties.
For the smaller properties like a duplex or fourplex I would avoid setting up a corporation. For...
Hi All,
When structuring a JV deal for a duplex or multi-family property, would it be advisable to create a corporation for the property? I am assuming it would be easier to manage the finances through a business bank account rather than personal accounts.
Also do you require any special...
Hi Corey,
Thanks for the reply.
You suggest not going the JV route until you have proven yourself with 3 or 4 successful sales. The time it would take to generate the down payments for each property could take a considerable amount of time. I understand this is a long term play but I am...