All Forum Posts by: Damion Williamson

@Damion Williamson

Try to check Royal Legal Solutions they're a great resource for what you are looking for. They are a one stop shop operating in all 50 states have attorneys and CPAs on staff to assist with entity structuring, business planning, and tax planning.

Thanks,

-Megan

Hi Damion, my organization Fund That Flip just posted this blog post regarding tax traps and tips from real estate CPA, Thomas Castelli. Maybe this could be of help to you?

Hi @Damion Williamson good question. I'm not the best at answering this but these are my thoughts. Sometime's finding a CPA takes longer than expected. One thing I had to do was ask other landlords/ppl in the real estate world what CPA they used and got some referrals that way then did some research myself on those CPA's. Here is an article that may be helpful in this time of doing things yourself - https://innago.com/lower-finan... Best of luck.

It depends on what value you can bring and what you enjoy doing! Generally if you don’t have capital then you can leverage another skill or the value of time to get into real estate. You might not start off with equity in a deal, but being involved and further building out skills is a great way to start. 

Are you knowledgeable in social media and photography and can therefore bring value to a partnership by handling all of the marketing for properties? Take sample photos of your own home or friends/family’s homes to build a portfolio

Do you have an eye for design and can add value by furnishing short term rentals? Starting a real estate photography business or furnishing company takes almost zero capital

Do you have time on weekends you are willing to spend working? Then maybe an ideal partner for you is someone with family/personal obligations that would love to outsource that time for you or someone who is an out of state investor. You could attend showings, get into property management, etc.

Do you have a huge network of contacts that allows you to find investors / contractors / buyers? Then maybe wholesaling is a good option

Just a few ideas to get you thinking. There’s really not one that’s better than others because it’s so personal. I’m a CPA so I can add value there but know almost nothing about construction so no one’s going to partner with me for my construction input on a flip but they someone else might jump at the chance for tax and accounting help. 

Hey Damion - Good to see you're looking off-market. It's absolutely the way to go in the current market. There are a ton of ways to find off-market deals, and I certainly don't profess to be an expert. Because I'm Out of State, when I need a function like that in my business, I hire someone that's already doing it well. Doing things that way costs me more money, but ultimately I can't be there to do the time consuming job of finding the deals myself, and I can't spend the time learning a new skill that someone else is already doing better than I could.

I'll leave it to someone else on here to talk about the specifics of lead generation for off market deals, but this year so far I have bought houses out of probate estates, form retiring investors, from folk that are moving out of state, from a divorcing couple, and from a homeowner that had massive repairs they couldn't afford.