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All Forum Posts by: Carlo Palomino

Carlo Palomino has started 4 posts and replied 7 times.

Post: Creative Flip Option

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

I am thinking about a creative flipping solution and was curious of other people's thoughts and experience here. I have a single family house that I am interested in purchasing that needs some cosmetic work.  I have a good friend of mine who is a GC and is looking for a new place to rent. I came up with an idea to purchase the property and have him make the cosmetic fixes over the next 3-5 years. I pay for the material, he does the labor. He pays a slightly discounted market rate on the rent. In 3-5 years when we sell the property, we split the profit 50/50. Has anyone done a deal like this? What are your thoughts on a deal like this? I feel like I am protected as long as my friend does a decent job, which he is incentivized to do. Trying to think of all the downfalls on this idea. Thanks! 

Post: Wholesaled, Flipped, now looking to Buy and Hold

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

Thanks @Ben W. It has been a great journey so far. Looking forward to putting the plan together and executing. Any pitfalls in the buy and hold game you can warn me of? 

Post: Wholesaled, Flipped, now looking to Buy and Hold

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

Hi all,

So glad to be a part of such an amazing community. I have been reading BP content for a long time and looking forward to connecting with like minded folks. 

I have been investing in Real estate in the form of wholesaling and rehabbing for the last 18 months while working full time. I am interested in taking my profits and buying my first long term rental property. 

I also want to learn how to buy 6+ unit properties and structure mutually beneficial deals with other investors. 

Best,

Carlo 

Post: Tax Liens in a Wholesale deal

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

Thanks Wayne!

Post: Tax Liens in a Wholesale deal

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

I am currently in the process of getting a property under contract that has a $30k tax lien. 

Do I se my offer price with me paying the lien or with the seller paying the lien? 

Thanks!

Post: What's the magic number??

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

Great advice and help everyone. Really appreciate the insight  you were able to provide and the time you took out to answer!

I will post back when I get my results! 

Post: What's the magic number??

Carlo PalominoPosted
  • Wholesaler
  • East Hanover, NJ
  • Posts 7
  • Votes 1

Doing a direct mail campaign and not sure how many drops I should do with the same list. 

I have read that 3 drops (one drop initially, one 3 weeks later, and one 3 weeks after that) is the right number. Can any one offer some insight from direct experience? Thanks!