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All Forum Posts by: Toshia Booker-Blakeley

Toshia Booker-Blakeley has started 11 posts and replied 59 times.

No problem Laurie! Glad I could help :-)

Post: Getting started at 20 years old

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hi Clay!

Welcome. Start with Wholesaling to get your feet wet. You do not need a real estate license to get started. This strategy helps you fine tune speaking and negotiating with motivated sellers, contract management, locating and communicating with cash buyers as well as building a team. All with minimal capital and risk. There's a ton of information about this strategy on Bigger Pocket forums & discussions. Dive in 

Post: How do I create a team around me?

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hello Gergely, 

Welcome, I agree with Jay. Posting what you need on Bigger Pockets is a great way to locate team players in your area who share like interest and familiar with Real Estate investing. 

Post: Chicago Based--Just Starting Out

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hi Marc!

Welcome. This Industry can be overwhelming with ideas and various strategies which makes it so exciting but also confusing. I would look through Bigger Pockets for forums on niches and finding the real estate investment style that works for you. There's plenty of information that will help to narrow down your interest. 

Post: Buying to Rent vs. Building to Rent

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hi Peter, 

Seems as if you've got it all figured out. Go for it!

Hi Giovanni, 

Tax records including delinquencies are public information. You can go to your local assessors office or look online to locate delinquent taxes owed on properties in your local market or across many cities. Once you have located them there are usually contact information associated with  the record. Reaching out in person if local or by a nice mail campaign has worked for me. 

Post: Is LLC necessary when you start

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hi Jairo, 

Although obtaining an LLC to protect your assets and differentiate your personal assets from business is important, I wouldn't let it hinder you from starting. Depending on how you are purchasing your property and the type of financing you are obtaining, you may not need to do this immediately. 

Post: Flipping with owner financing

Toshia Booker-BlakeleyPosted
  • Chicago, IL
  • Posts 60
  • Votes 8

Hi Mark, I agree with Jim. If the numbers do not make sense it doesn't matter what type of financing is in place, you make money when you buy not when you sell. Hope this helps :-)

Your in good hands with a title company. They can run a title search and check out the ownership details/records for you. 

I would ask the person you are seeking the capital from what their suggested fee is directly. Although they are not responsible for the labor nor details of the sale, their money would still be tied up in any event things did not go accordingly. Maybe you can start with the highest number you think is fair in mind..offer the investor a lower amount for initial interest with a clause up to the high number in your head if the project is delayed. So for example you do not want to go over 7%. Start with 5% then add a clause that if the project is delayed over the 6 months you will pay a + 2% penalty fee. In total 7%. If you finish on time you will only have paid 5%! Hope this helps :-)