What are your real estate (RE) questions?
1. I think buying duplexes may be the best way to triple my money (and when I accomplish that, it will have 6x your money)
2. I want to be the best agent for first time WA homebuyers. That is difficult if my friends can't afford homes.
3. 50% of businesses fail within 5 years whereas 5% of homes do; trusting you is less risk than starting a business
Ideally we own it as long as possible, though life happens. We can keep a 50/50 real estate partnership even after you move out, you can buy my share, I buy your share, sell, refinance, or rent it out. I only profit if you profit.
4 in 5 young homebuyers receive family support. Combine with our offer for >3x homebuying speed.
Any small multifamily. A home with a mother in law suite, tiny home, a duplex, triplex, or 4plex, all qualify for 5% down.
See our Partnership Agreement Template by pressing the menu button
For an exceptionally trustworthy Real Estate Partner, yes, though I'd request >1/2 the equity or for additional funds to be paid back as a loan at the mortgage interest rate.
The median $840k King County home costs ~$60k at 5% down + loan costs. Most homes cost less, but we need emergency reserves. That’s $40k from us and $20k from you and any family support.
That's fine, this isn't for everyone, and anyone that thinks they can triple their money in a few years must be at least slightly crazy. If you're not comfortable having an investor, perhaps a RE Agent would be better for you.
All money earned as a RE Agent goes to helping more people afford homes.
I’ll save you over $5k on your home price and loan costs or give you the difference from my RE Agent commission.
1. Our rentals are managed in an LLC (Castleton Properties), with insurance and >$200k in reserves.
2. In an emergency, you can sell some home equity to your RE Partner and continue living there.
1. Dual or high income
2. Credit Score >720; ideally >740
3. They have FIRE. Frugality, Integrity, Resilience, and Empathy
4. Understands the concepts in Money 101 and RE 101
5. Wants to become a landlord