All Forum Posts by: Bill Mitchell

Good post, I had to do an estate for the first time the other week. It was a struggle but great learning experience.

The entity would just myself and my wife. And you are 100% correct I have much more reading to do, I wasn't trying to insinuate I was about to set up a LLC right this moment. In the near future, I was just looking for general guidance here.

Jon, do you not need any asset protection or things to reduce taxes as a wholesaler? I at least wanted to do it for tax benefits (I made a pretty penny this year on wholesales alone and want to keep as much of that earned income as possible), there really isn't any "asset protection" when wholesaling.

Thanks for your advice.

I was unaware you could even set one up yourself. I was going to have a lawyer set it up.

I have been wholesaling up until now using my name on the purchase and sale contracts. But I have been closing them regularly enough that I think its time to consider setting up an LLC.

Typically how long does it take to do this? Thanks

@Jerry Puckett are you using the CADs to locate multi family properties? That is typically how I do it. Go through line by line, a little bit of a chore but you can find deals that way.

@Jerry W. Thank you. To get the ladder with a telescope do you have to go to a special hardware store or should lowes home depot have one?

Unfortunately I don't have a truck, but a sedan. On my appointments I would like to start looking on top of the roof. Do they manufacture fold-able ladders that are tall enough to get on top of the roof of your average 1 story home, yet compact enough to fit inside a sedan?

Anyone here have experience with push pile piers? My general thought is they are unreliable and a temporary fix at best. They tend to sink down under the weight and it just leads to more foundation issues. Any experiences? Am I the only one that has had bad experience with push pile foundation piers?

I know these are somewhat common in DFW

@Ben G. Honestly Ben instead of paying more for equity % just use the deed date for an approximation. Go back 15 years and more. Equity % is just a rough approximation there is no telling if they refinanced the home yesterday or pulled the equity out from it.

Anything 15+ years on the deed date will likely have equity. But again just like equity % its just an approximation.