All Forum Posts by: Christopher Makestas

Renting out my Lexus was one of the best things I ever did. It got rid of my car payment and I cashflow a little bit on it using Turo. Selling your car would have the same effect. Get rid of the car payment, high insurance, and most likely synthetic oil changes and expensive repairs/maintenance.

A fence and camera might have the opposite of the intended effect. It could draw attention that the area may be unsafe and susceptible to future issues. Stick to manicured outside look (i.e., new paint job, clean landscaping, good lighting, etc.). 

I imagine you would get a better rate with the cash out refi than you would with a hard money lender.

Partner with a contractor. Seems like the simplest most straight forward path from point A to point B. Go 50/50 on the deal and let the GC pick up the rehab bill.

50/50 and let his landlord role be his sweat equity rather than pay him a management fee. The potential rent of what his room would go for should be considered as well however.

Hey guys! I'm brand new to real estate. I got my license recently and I'm currently interviewing various brokerages. I hope to have my license hung by the end of the week. I'm also an investor...or at least working towards becoming one. My goal is to purchase my first home within the next 3 months. I would like to position myself in the market as a realtor that understands the needs of investors. I'm well read on real estate investing through various books, podcasts, BiggerPockets of course, and I've attended a few local REIA's. My understanding of real estate is by no means advanced but I can understand the lingo and most basic concepts. I'm incredibly excited to begin this journey and can't wait to get started. My initial goal is financial independence through buy and hold rentals. Once that goal is reached I'll shift focus towards flipping, development and large scale projects. For my first project my plan is to purchase a 4br house with a very close friend and house hack. We've lived together and even opened a business together so I have no concerns as to how our relationship will be affected or the risks involved. We would like to co own and live in the property and rent the other 2 bedrooms in the hopes of having the renters pay down the mortgage. We'll most likely get in with an FHA loan which to my understanding will build more room in the deal to either cash flow or at least fully pay the mortgage on a monthly basis. The home we purchase will be livable yet in need of updating. We will little by little fix up the property (both handy) such as replace the floors, countertops, etc. Then we'll do a cash out refi, move out after at least 6 months have passed (in order to qualify for another FHA loan for the next property) and do it again. I let me know your thoughts on this strategy and any pointers you guys might have about getting started. If your in my area or even if your not reach out to me! A little bit about me outside of real estate: I bartend currently and I'm always out and about. I work out several times a week and love being out on a boat and or cruising. I'm constantly working on some sort of self improvement and I never stop trying to move forward. Really looking forward to becoming deeply involved with bigger pockets community and hopefully providing value to others as my knowledge, experience, and skill set evolves. Thanks for listening!!

@Anthony Ford 

Thanks for the response. That clears up a lot of questions. I suppose i wanted each to have their own business bc I was branding them separately and marketing them differently. I suppose it wouldn't matter overall. When it comes to closing and check needs tp be cut for my efforts Im wondering if my sell side business or my buyers side of the business is whats getting paid. IE Webuyuglyhouses or San Diego Wholesale Homes.

Thanks for the input guys. That gives me some clarity. 

Michael Reyes, I like the thought of having the legal entity and then just DBA the rest of everything else. Ultimately so long as I have one legal entity for now I should be good and I can tweak it all down the road later.

Paul, are your several LLC's correlated to multiple businesses? properties? websites? all of the above? Just wondering if its advantageous to set each one up as its own legal entity? What was your reasoning for setting things up this way?

Michael Reilly, I like those names and they've inspired a few ideas for some names. Am i correct in assuming those are names more geared towards the sellers side of the equation?

I read somewhere you can have separate "companies" marketing to their respective sides (buy/sell) or just create one company/title/domain that appeals to both.

Such as buysellfast.com or tallahasseewholesalers. any thoughts on this guys? Thanks.

Definitely  don't wanna get caught in the whole analysis/paralysis trap.

Hey guys!

So I've read a ton of posts already asking for advice on how to name a wholesale company or llc. Unfortunately I'm still left with questions as its not been addressed yet. My question is complicated but ill try to keep this simple.

From what I've read, it makes sense to name your llc in tandem with your domain name. So for instance, san diego wholesale homes llc for sandiegowholesalehomes.com. The confusion is that ill have more than one domain name when wholesale flipping. One to market to distressed sellers and another to market to cash buyers (am i right about this?) So my sellers website might be cash4homes.com and my buyers site would be sandiegowholesalehomes. Which should I name my llc after?! Or will i have multiple llc's to correspond to each site?

My other thought was to possibly name myself something like Homestead Investments LLC and then forming DBA's for each website. Or do i even need to do that?

Also my concern is if lets say we name the llc after the buyers site, san diego wholesale homes LLC and i decide to expand my reach into other markets such as all of coastal southern cali. Would i rename my llc to southern california wholesale homes? or just create dba's and domains for each market i tap such as laguna wholesale homes llc and huntington beach homes llc etc etc?

Sorry the confusing question. Please ask and ill clarify. Thanks!!!