All Forum Posts by: Christopher Beale

@Jeremy Tillotson Great idea starting a post like this. I am still pretty new to REI, but this month I partnered with another investor, and we are establishing a partnership with a local charity organization/church and are establishing a shelter/hand-up establishment for veterans in the first floor of an old hotel that we are renovating. It has been quite the learning experience so far, but it also is a great feeling to know we are giving back to the people who have given so much for this country. We are donating the first floor for this usage and allowing the vets to stay free of charge for a couple of months to establish an address and help them get back on their feet. We expect to open the first week of January.

Welcome to Bigger pockets.  I'm not to sure about the usefulness of being a boat captain on here ;) but then I tend to get seasick and view boats as a big hole in the water to throw money into.  I promise not to hold it against you though :).  Good luck and happy investing.

To post properties you have to be a pro or plus member, and list them in marketplace.  Or it is acceptable to send them to people via pm if requested.  Welcome to BiggerPockets.

@Jason Aviles, Welcome to BP.  Let me say I wish I had learned about investing when I was 19.  I'd be in a much better place financially today.  I never learned much about financials in school.  It wasn't until I made mistakes that cost me several thousand dollars that I started to learn.  So I guess the biggest thing I would change is when to get started.

I haven't tried this particular one but it does look interesting.  I tried 

https://www.phonebooth.com/pb/signup though.  and it worked well enough.

An inexpensive place to get documents is 

https://formswift.com/ they are created by attorneys and they have a free 7 day trial.  

*disclaimer: I don't work for formswift.com nor do I get any compensation for the referral, I'm just putting out as an option.

I personally would spend the money on the marketing campaign.  There are plenty of people who will answer your questions here on BiggerPockets for free.  Unless you are the type of person that needs someone else to motivate (carrot or stick) you; which obviously you aren't or you wouldn't be trying RE (else it will be a short career for you).  I think paid coaching has a place after you have taken your first steps and need a hand up to make your business grow to the next level.  Just my 2 cents take it or leave it.

Not typically to sell, only seasoning requirements I'm aware of is to refinance and that varies by state.  But I am not an attorney and am not familiar with NY laws.  You should ask your RE attorney if there are any particulars in your state.

An LLC is about asset protection. It isn't exactly needed when you first start out. You can buy one if you want but you can just as easily get a dba (doing business as) for about $20, and open a bank account that way. Especially using wholesaling though you never have any assets in your name, so really you just need a way to cash the assignment checks. I would recommend doing a few wholesale deals to decide if it is something you really want to do before you establish your LLC, since it will cost you about $300 (at least here in MO).

Nice payday!  Congratulations!