All Forum Posts by: Charles Carillo

The states you have listed are known for asset protection. They are used by forming an LLC in that state and it will own your state specific LLC which owns your property. It gives you one more level of asset protection. I would Google search each state you mentioned and you can read about the pros and cons of each. Wyoming is very inexpensive to incorporate.

I would always have a lawyer setup your company, it is very inexpensive to have it done right. Less than $200 plus state fees normally.

A physical address may not even be required to incorporate or you can use your lawyer's address and a PO box as the mailing address.

Speak to your attorney and CPA before incorporating anywhere. This information is of a general education nature and should not be construed as; real estate, financial or legal advice.

Check your county property accessor's website and if it is in an LLC you can trace the owner's information through the secretary of state or your state's equivalent.

S-corp is for a flipping business - There are limits on the % of income that can be passive

LLCs are for holding passive real estate investments

Call your CPA for more information.

Go to all local networking meetups and any conferences near where you live. They are both packed with experienced real estate investors looking to partner.

You can get 2.45% at CIT Bank right now.

Speak to local credit unions and local banks. You can normally beat 2.99%.

A popular radio host explains this the best

"Whole life insurance is a rip-off! It often costs hundreds of dollars more a month and includes a "savings" plan with a terrible return. Instead, pay a fraction for term life insurance and save or invest what you would have paid for whole life insurance.

You need 10–12 times your yearly income in term life insurance. When that money is invested well, your family can live comfortably on the return of that investment. For many people, a 20-year term is just right."

Do not sit on your hands; the more time that passes, the less of a chance you are going to recover the funds.

Awesome post and very inspiring! It is so great to hear these stories.

Buyer list is key for wholesalers. You can start building that by networking and finding deals. It really costs very little to start wholesaling.