All Forum Posts by: Austin Williams

Hello John, I am glad you would sell your property at the county assessed value. That just means for you I would need to make my initial offer below that. My goal is to not make my first offer so generous that the seller accepts it without making a counter offer. 

So I just created an LLC and it was formed with the State about a week ago so I have a little under 70 days left to decide which tax classification I would like to elect before it is defaulted as a disregarded entity, for a single owner.

What do you suggest is the best entity classification to choose from for a new, up-in-coming business owner to get the best balance between liability protection and tax advantages? 

Thank you @David Ramirez

I have been looking into Real Estate Investment Associations in my area to come across other like minded investors for better exposure. Also, when you said "an actual deal" do you mean having it under contract first then taking that to another investor? 

So I am doing my due diligence and running a bunch of Wholesaling Calculator reports to decide on my maximum allowable offer ($53,260) in order to get my desired return ($10,000) and the flippers ($30,000). So for example, I have this property the County did an assessment on and the value came back at $67,800. When I ran that same property in BP (preforeclosure) it gave me an EMV of $71,003 but, also on BP, in the 'Find Deals' tab, it gave an off-market value of $116,660 and on Zillow it is zestimated at $93,600. Most investors I come across say you should make your initial offer at least 75-80% below asking price. 

So I am asking which price should I take the 75-80% off before making my offer?

When starting off in wholesaling is it better to find a buyer or a seller first?

Also, when using a purchase-seller agreement, what should you include in the contract in case the buyer or seller decides to back-out at the last minute so you are not stuck with the "bill"?

@Michael Coco Thank you for the insite. 

Hello,

I wanted to know if I have a below poor credit score would it be beneficial to first try to fix my credit or create an LLC and build my business credit to start investing in real estate and worry about my personal credit score later?

Thanks.