All Forum Posts by: Dan Panea

Hi Friends!

What do you use for bookkeeping, accounting and filing taxes, as you start up? Of course, as you grow, you need a CPA, but for the first 12 months as you start out, what do you use? Do you use an online program, and app, or someone local?

I am located in NC, so the service can be virtual. 

Can you please make any recommendations?

Thanks

Danb

Hi There,

I am going to create my LLC. I am US citizen living in Europe for now. Where should I create my LLC, considering that I am going to do wholesaling for the first year? Should I create an LLC in one of the states I target? Should I create an LLC in another state, like one that has an LLC friendly legislation? What is the strategy?

Thanks

Dan

Here is my 2 cents: the reason you went with your brother is because you know each other very well, plus there is a level of trust between the two of you. I think you made a deal with your brother as a mental support for you. It helped you go over some obstacles knowing that your brother is there, although he was not really fully engaged and liable in any way. 

In my opinion you have 2 steps to take: 1. talk to your brother about your liabilities, not only about the gain. Discuss the future options as family and separate business individuals. Keep in mind you might have to walk away from your deal with your brother, and you need to get his permission. 2. you might have to go with renting tenants at full price. This is where the money are. You need to do this legally, complying to all existing laws. By going with outside tenants, you will become financially independent. You own the house and the business, and this is the only way to get peace of mind. Good luck!

Hello dear colleagues,

I am looking for an assignment friendly title company in Charlotte area.

Thank you!

Dan

Hello dear colleagues,

I am looking for an assignment friendly title company in Raleigh area. 

Thank you!

Dan

Is there BPInsigths anymore? What about data Downloads?

Regards!

Thanks Bob. This is what I am trying to do... to connect with the ones that are doing. There is a reason you are buying in Roatan. And these numbers matter because you have them. And I am not talking about super analyzing, but just getting an idea which market or state makes more sense than others. I think is very important for me to at least start with the right state, then I can drill on a local market. Some states are friendlier with investors than others. Some markets have a better return, etc, etc...

Hi Bob, although you are correct 1000000% for your market and case, I am still looking for analytical data. See, to target East Cleveland, I would still look at some data, and try to find a correlation between the price increase and other market data. I am more interested on the national and regional trends, to get an idea over the years what is going on. 

Thanks for sharing your thoughts!

Regards

 great tips Chris! much appreciated!

Hi friends!

I am new to BP and RE investing. That been said, I have been learning a lot over the past 18 months from a lot of free webinars and you tube videos. 

I need your help with the following:

1. What data is available for free or paid online to help me identify trends (population, job, crime, price to rent, etc) to be able to make an informed decision on flipping or holding

2. Once I have the market down, what is the best channel for finding flipping or holding deals

3. What is the best way (including paid) to connect with the right mentor, to learn to identify and mitigate risks, and learn an optimal approach to REI? ( I understand that "optimal approach" is too general, but I look for directions)

Please no philosophical answers. I prefer answers with links if you know any. 

Kind regards!

Dan