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All Forum Posts by: Alfred Castillo

Alfred Castillo has started 4 posts and replied 49 times.

Post: Bank of America Requires 20% Down

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

Off to packing bags in the supermarket so I can save enough to get a property, lol.

Post: When should I start my LLC?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "stukeller":
We recoommend setting up a Management LLC to hold the ownership and Manage a seperate LLC for each investment property.

Stu Keller

how do you do that ?

Post: Recommended real estate investing beginner books

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "MatthewGIl":
Originally posted by "Castillo183":


Is that a good book ?


It is a great book. That book and the book E-Myth, have become the foundation of our REI business.



wow.... I just broke it... so I am going to be reading it asap. lol

Post: "Investing in Duplexes, Triplexes, and Quads"

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

That is what I mostly want to have on my portifoilo

Post: Recommended real estate investing beginner books

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5


Is that a good book ?

Post: "Investing in Duplexes, Triplexes, and Quads"

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

Intresting.... I will be ordering the book.

Post: What Have Been Your Greatest Frustrations In Starting Out?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "fliprent":
There are sooo many but I would say.

Contractors
Tenants
Competing Investors
Gurus who are out for a quick buck
Contractors
Learning
Negotiating
Juggling investing with Family
Contractors
Closing Deals
Local government
finding good deals
oh and contractors

You think you might be able to figure out what my biggest frustration was....? :D

That will go for me to. I am afaird of the deals not going thru and getting stuck with a property that makes no income.

Post: Starting at an early age

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "Primo_Coach":
Castillo,

Congrats for starting so young. You can be set by 30 if you work your tail off. In 5 years you should be able to make your first million. It won't be easy, but if you are doing consistent marketing every month and closing deals every month, it's doable.

I have my $30,000 rule with subject-to and lease options (I won't touch a deal unless I make 30k). So $30,000 a property, divided by 5 years, is only 7 deals a year.

Wow, I wish I can do it in 5 years lol. So far I am reading all the book in real estate I can get my hands on. So far I had read 5 books and I need more info about the bussiness. In my job I am stashing on my 401k so I can get my first property and but it under my first LLC. Other question how can I do it from 21 and when I turn 26 years old.

Post: When should I start my LLC?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "weissman":
Another good source is Nolo Press. They have an excellent book (well worth the price, in my opinion) that walks you through the process. I've set up 2 LLC's myself this way--quite easily.

What is the name of the book if you dont mind asking?

Post: When should I start my LLC?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "ncarey":
Originally posted by "Castillo183":
How do you get a LLC started? Do I have to go to county Court ?

I don't know where to go in your area but a search online may help. I also recomend legal self help books by Nolo Press. They have some excellent books about creating and running LLCs. You may find them at your local library. I know the Nolo book on creating your own LLC has state by state instructions on where to file.

I am not necessarily recomending that you create and LLC by yourself (although it is easy) but if you read the books you will have a much better understanding when you talk to a lawyer.

Thanks for the info, I check on legal zoom.com and they have the instruction how to set up one. The other question that I had was once I set up a LLC how does it work if I set it up in nyc and I am going to invest outside New York?