All Forum Posts by: Account Closed

Welcome to the boards! Sorry that you never see your family, but sometimes we sacrifice today for a better tomorrow!

Nice job on finishing the basement! Feel free to lend advice or get advice from these boards!

Arielle,

Wow I feel honored to be the first to welcome you to the BiggerPockets family.

Sounds like you are doing some great stuff out there in NJ. I hope you will lend your knowledge and experience to these forums!

Again, welcome to the "family"

These shows only seem to show successes. They never really go into the troubles. THere are a few episodes where people got into trouble on their rehabs.

I think those are more realistic. The problem with a few of these shows and the "GURU" informercials as a whole is they only sell the dream of getting rich quick.

This is work. This is a career. If you want to work by yourself, for yourself, etc this is a path to go. I have been very happy doing what I do. But I see so many people see the one amazing deal on the infomercials and expect them all to be that way. Guess they don't understand "RESULTS NOT TYPICAL" or "RESULTS MAY VARY" in the fine print on the screen.

HA!

I have used eFax for years. Sometimes I even fax something to myself just because it is easier than scanning it in and I have it in PDF format then.

I know others that use MyFax and love it. I just heard about one called Smartfax as well.

Ash,

This is a great place to start. I commend you as many individuals never consider to put a business plan together. They just sort of go off and start without having a true plan.

SO, where are you from?

Paul,

There are many wholesalers and birddogs out there. You could check out the sig block.

I am an investor that focuses on properties now in the I-55 corridor, but get leads all over that I birddog or wholesale out.

What areas are you concentrating in?

Here is a question for you...

Why would the bank accept a short sale if the homeowner hasn't even attempted to sell it for a decent price first?

The listing does help. You should get one. Most realtors (and I have my license so I can speak here) will overprice the home. If the home is overleveraged, you will have to list for a price that makes the seller break even. As that home sits on the market with no showings, no offers, etc. The lender will see yet another reason they have to short it.

So, while some lenders may not require it to be listed, it really should be for your benefit.

It is possible the listing agent worked a short sale or payoff with the bank. Sometimes when you search the MLS in the remarks area, you will see where it says, "Offer Subject to Bank Approval".

That is probably what happened here.

Paul,

Always good to see a fellow Chicagoan on the boards! I am down in Wrigleyville.

Glad to see you have stepped up and joined the BP community. Nothing but great knowledge and help available here.

See you around the water cooler! Enjoy the air show this weekend!

Yes you should incorporate. Many banks have Business Lines of Credit they will do and some (such at National City) that I know of, will do Unsecured Business Lines of Credit.

This is a loan to the business that does NOT show up on your credit, and you are not responsible for. That is one great reason to incorporate. Let alone the liability issues and tax issues involved.

As always, talk to an attorney about the proper entity structure for you.