All Forum Posts by: Arron Paulino

Really was a waste of time and money.

I am thinking of always getting a title company/attorney or reputable entity to act as the median between me and the contractor/lender in every future opportunity.

Honestly, I was overzealous looking back. Treading more cautiously from now on.

They ended up blocking me, but for some reason, left their fraudulent site up and I noticed they changed their number. I heard of a couple of BP members getting contacted by them before and warned them about their scam.

It doesn't look like they appear on nmls (of course). This may a lost cause for me unfortunately.

Looking into the licensing board in TN, it looks like his license expired so I am indeed out of luck. Taking this all in as a lesson learned and really having my guard up future real estate investing relationships.

Has anyone ever had success with a demand letter? I will be sending two letters regarding a property that I was planning on fix and flipping. One letter is going to a former contractor (Dan Fitzgerald from Memphis, TN area) that I will be pursuing for fraudulent activity since he left about halfway through the rehab. The other will be sent to a scammer (David Owens of Owens Financial Group), who claimed to be legitimate, but was actually just pulling me along and had me wire funds for a loan that never even seemed to exist.

I waited about a year to take action and I figured better now than never to act on this. Hoping for something to happen in my favor, but not getting my hopes up. If anyone has pointers with this, that would be greatly appreciated. I put in my letter than I will give them two weeks to respond before needing to take legal action and have this tracked to see where the letter is to be sure it has been delivered.

I appreciate your advice. I am interested in getting a LOC as it goes into the mindset of using other people's money to scale up in my real estate investing journey.

I actually have the EIN ready when I was in the process of establishing my LLC. I am in the process of selecting which bank I want to do business with and getting my funds ready to store in this business checking account for my LLC. I will be following the instructions you just laid out. Thanks!

 That makes a lot of sense so that can keep me from waiting in line. Thank you for sharing the link!

 I appreciate the heads-up. This will be the start of a great business.

 Sounds simple enough. Thanks for the answer!

I plan to utilize seed capital and leave it alone to fund the business. I only plan to essentially pay myself once I see extra income not needed to be in the LLC account. What do you mean by having a good attorney have my LLC thrown out?

This seems like a very newbie question. How do you begin funding an LLC? Do I go into my local bank and let them know that I am looking to open a business checking and/or savings account under my LLC? Once in, do I need to bring a cashier's check or the like to deposit into the account as seed capital? What documentation do I need to bring to open? I am currently under contract on a house through my LLC and need to pay an assignment fee in a couple of weeks ($10k) at closing. I have it ready to go from my personal bank account to transfer.

I'm used to purchasing property under my name, but now this will be my first in an LLC, and want to make sure I am starting correctly.

 Thank you!

He can share his experience, boots on the ground, and acts as a lender to fund the project. I essentially put skin in the game and am informed the whole way up until the property resells.

That said, I think I'll be able to learn how the project is structured from start to finish and learn how I can do this all better in my journey.