All Forum Posts by: Allison P. Belcher

Hi Dean,

Welcome to BP. I would love to connect with you. I'm from NYC, currently wholesaling in Jacksonville. Would like to discuss your investing strategy and goals. Lets connect see if we can help each other invest and grow. I'm definitely looking to grow my local network down there as I always need boots on the ground to assist with property evaluations. 

@Sharad M. I am currently using Deal Machine to D4D and get off market leads. Wondering how REsimpli interfaces with this? Thanks

Hi @Chris Corvil

If the land lord owns the property outright, that makes seller financing easier. Double check is retirement is his only reason for selling. If it sounds like he's well off and doesn't necessary need all the money now, that's an open door to discuss seller financing. You can ask something like "Are you willing to sell your house and take your equity in installments?" This way the seller can avoid paying capital gains tax. 

Your capital gains tax rate can be 0%, 15% or 20% depending on your income and your tax filing status. Almost any property you own is subject to capital gains tax if you sell it for more than the original purchase price. This is a good talking point. How much today money do they need vs. tomorrow money.

Greetings @Tom Fenoglio I have attached a link to the CPA I use. They are based in NYC but they are set up as a virtual CPA so this should suite your needs being an out of state investor. They should be able to answer all your questions about setting up the LLC, costs, etc. https://www.aiolacpa.com/

Best of luck!

@Francis Nguyen Hello and thanks for your feedback. This is great advice which I am currently looking into. 

Salient point and a good couple of first steps. Say I have a pretty decent amount of money saved towards this venture, is there any specific advice you can offer about how to initially approach networking with lenders and agents? Particularly if my intent is to invest in state I do not live in.

Thanks for taking the time Adam!

I’ve been listening to multiple podcasts like The Real Estate Guys, reading books, The Real Deal, etc. However, most entities are dealing with people well versed in real estate investing and not the beginner, so their information is good but nothing I can use because of my lack of experience.

What advice would you give someone just staring out with not a lot of capital?

Thanks