Section 8 Pt.2 - Posted by TL (Louisiana)

Real Estate Investing Section 8
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Posted by Mark Perea on August 03, 2001 at 15:00:10:

Would you send information pertaining to the joint venture and its benefits. I want to do one with my sister.
Thank you,
Mark Perea

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Section 8 Pt.2 - Posted by TL (Louisiana)

Posted by TL (Louisiana) on February 08, 2001 at 13:42:31:

Hello To All,

First of all thanks for the responses from my first question regarding Sec 8. Actually this question is really about a partnership that I need input on. Here goes!!!

First info from the last post, I’m green, wet, new to all of this. I’m a teacher so I don’t have any cash. I have good credit. I bought my first home last year (VA loan)so there is not much equity. I want to tap the lower income market and rent to Sec. 8 tenants. My original post was answered with posts of encouragement from you guys thanks again.There are still many homes on the market in my area going for 12K.- 22K. and my Mother-in-law wants in. That’s right I said Mother-in-Law, so it needsless to say what I would have to deal with if I blew a deal. She has the $$$ and I have YOU GUYS not to mention an " I must win attitude"
How would I structure a partnership thatlimits risk bothfinancial and sanity? Would I be better off going about this solo? Should I reconsider my market and my plan?
Please advise and do forgive typos,spelling errors, comma splices, run on sentences, poor subject verb agreements etc.
Thanks you guys. :slight_smile:

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Partnership Agreement - Posted by John J

Posted by John J on February 08, 2001 at 23:36:41:

I have done just that with several friends. They had the $$$ and I had the connections to find the deals and the expertise to fix them up making them profitable. I established partnerships with each person and kept putting properties in it until they ran out of money. I have emailed you one of my partnership agreements, which was specifically developed for this purpose. I’ll send the same to anyone who emails me with a request.

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Where in LA are you? (nt) - Posted by Hr

Posted by Hr on February 08, 2001 at 18:10:22:

nt

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Re: Partnership Agreement - Posted by t

Posted by t on February 18, 2002 at 21:55:58:

Divorcing. I need advice on using property that my wife and daughter live in as collatral or that eqity to engineer my first deal; any thoughts?

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Re: Partnership Agreement - Posted by t

Posted by t on February 18, 2002 at 21:55:00:

Divorcing. I need advice on using property that my wife and daughter live in as collatral or that eqity to engineer my first deal any thoughts?

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Re: Partnership Agreement - Posted by Constance(TX)

Posted by Constance(TX) on March 05, 2001 at 15:19:36:

Please email me a copy too. Also, do you have some type of business plan that you use to introduce REI them?

Thanks,
Constance

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Re: Partnership Agreement - Posted by Roy

Posted by Roy on March 03, 2001 at 10:33:52:

Please e-mail me a copy of your partnership agreement.

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Re: Partnership Agreement - Posted by Becky

Posted by Becky on February 24, 2001 at 15:59:20:

Hi John J.
Would you please email me on of your partnership agreements? Thank You

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Re: Partnership Agreement - Posted by spidey

Posted by spidey on February 13, 2001 at 02:20:38:

hi John , would you be able to email me one of your partnership agreements? thanks dude!!also were your holdings in llc’s?

spider

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Re: Partnership Agreement - Posted by Alexander

Posted by Alexander on February 10, 2001 at 13:54:29:

John
If you don’t mind, I would like to get a copy of a partnership agreement. I’m trying to figure out how to structure a deal where I can make take in a monthly cash flow from a 10 to 20 plus unit complex and have my partner benefit tax wise. He’s putting up the initial 20% downpayment.

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Re: Partnership Agreement - Posted by sherry

Posted by sherry on February 09, 2001 at 12:00:50:

John,
I would really be interested in a copy of the partnership agreement, if you do not mind. I was thinking of doing a joint venture, or partnership with my step-dad.

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Re: Partnership Agreement - Posted by TL (Louisiana)

Posted by TL (Louisiana) on February 09, 2001 at 24:11:40:

Hi John,

I downloaded the agreement you sent late last night or should I say early this morning. I’ll go throughit asap and make any necessary changes,but from the looks of it, I think it’s just what I needed. I’ll keep you posted. Thanks again for such a speedy reply.

TL (Louisiana)

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Re: Partnership Agreement - Posted by Brent_IL

Posted by Brent_IL on February 09, 2001 at 24:06:19:

Do a joint venture for each deal instead of entering into a partnership. Generals have too much liability and exposure. Limited may be O.K., but lots of rules to follow. An LLC may work well if the state charges are not excessive for the deal.

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Re: Where in LA are you? (nt) - Posted by TL (Louisiana)

Posted by TL (Louisiana) on February 09, 2001 at 24:28:01:

Hi HR,

I live in New Iberia, LA it’s about 15 min from Lafayette, about 1hr and 20mins from Baton Rouge and with the New Interstate nearly completed about 1hr 40mins from New Orleans. It’s sort of rural area, but I believe there is enough going on around here to make enough $$$ to help supplement my income. I’m not trying to set the world of RE on fire just yet, however,I would like to get at least one deal under my belt this year. I figured I would try a in the lower end because if and when I make those “newbie mistakes” I could pretty much handle the bitter end.

Thanks for such a speedy reply.
TL