All Forum Posts by: Alex Price

I live in Ohio and I believe between Columbus and Cleveland, the rental markets are very good. What do you think the best rental markets are in the country?

Drew,

Regardless of whether you have 1 property or hundreds, you don't want to be
personally liable for anything that goes wrong. Anytime you buy property, I recommend you put it an LLC. I would also recommend you setup the LLC in the state that you own the property in. Tremendous tax advantages as well as you're operating as a business versus an individual. Lastly it makes it much easier to your LLC with the properties as the assets.

I agree 100% with all the comments. You must add all of your expenses into your return. Which includes closing costs, repairs, gas, time, unforseen repairs as well. Also is this property already rented? If not, then where are you getting your rent amount from. The private money situation may be a good route to go or see if it's possible for you to secure owner financing. That will minimize points you may have to pay on the back end. What is the property appraised at in 2012? Also negotiating the purchase price is still feasible as well, that way if there is equity you may be able to secure more money for where you don't have to tap into your reserve.

That's a great start, I would definitely add the following to that list:

1. Recent inspection reports. Depending upon the city, you may need point of sale and other various inspections in order to transfer title.

2. Tax returns - you want to see what the actual numbers are.

3. Expense report

4. Recent appraisals, owner should be able to have comps pulled for you

I think that would be sufficient. Also are you having an attorney draw up the paperwork. I do this with every deal to keep myself protected.

Welcome Brittany!

How seasoned are the notes that you sell?

Could you give an example of your notes?

Term?
Yield?
Price?

Thanks!

Josh,

I honestly still do not know what source they used to get to my website but here's how it went down:

I was advertising the property for a few months and received a few emails here and there but nothing that really lead anywhere. However on July 7th, that all changed. I received an email from the investor saying that they were interested in purchasing cash flow property and that they did not require financing. Over a series of emails back and forth we finally spoke by skype, wrote up the contract, they wired the earnest money and the deal closed a few weeks ago with one final check.

It was awesome! It took a little bit longer because they are 12 hours ahead of us and so I would have to call them in the morning here when it was evening there but everything worked out great and I'm excited to be working with them.

-Alex

The power of the internet is awesome. I just sold my duplex
to a buyer whom I've never met and our only communication
has been through email and skype. This particular investment
couple lives in Perth, Australia and they paid cash for the deal.

Who said the world doesn't need what we have?

-Alex Price

Here's the deal: If someone is going to college to just party, hang out with friends and get some degree only to work for someone else then no! However if there is a plan in place to go the institution, network, take advantage of all the free money and clout that comes with being in college and realize that college students are on of the biggest target markets to market any product to just like Mark Zuckerberg,and Bill Gates did then yes. There is a lot of clout and connections that can be made with going to college especially when the university is more prestigious and more difficult to get into. However, the typical college student never has this on his mind. I did not know what I wanted specifically when I graduated from HS. However now at 24 I have a specific goal for going to college and it involves a hell of a lot more than a degree. Can you say cha ching!