All Forum Posts by: Donald Campbell

Thanks much for the feedback. Now, time to research the steps from identification to close. Learning is exciting especially when there are folks like you guys in the clubhouse.

I am looking at moving funds from a previous employer 401(k) into a SD IRA. I am considering using Equity Trust or Next Generation Trust. Anyone have experience you wish to share regarding doing business with either? Many thanks in advance.

I am a neophyte investor as well and I, too, attended one of those guru clinics and had the wherewithal to say no thank to the $35K mastery program. Glad you did the same.

Yesterday, I met with a attorney that specializes in RE. I went to him with the intent of creating an LLC so that I can get cracking. At the end of our discussion, he would not setup up the LLC (more like strongly advised against it). His advice was to identify my first opportunity. If that opportunity is going to be a flip, do it in my name. If the opportunity is going to be a rental, then come back to setup the LLC. Mind you, I had already placed my checkbook on the table. As @Aaron Keams

 stated, Educate Educate Educate. BP is a great resource, the forum search features will come in handy during your quest for RE knowledge. I managed to impress the lawyer mentioned above with my "knowledge" at the juncture.  Thanks @BP.

Thanks @Dashon Jones for the info you provided. 

As someone that is new to the business and doing this on my own, I would think it can only be a plus for me to credential myself before jumping into investing. The ability to "talk the language" without needing an "interpreter" seems to give me the arsenal for success while minimizing the dependencies.

I am looking at Temple University Real Estate Institute's online coursework. This way I can study whilst I am travelling for my 9-5 and accelerate the schedule for taking the state certification test. Does anyone see issue with the online approach instead of the traditional classroom approach?

Thanks Bob.

Is the REO bid deposit forfeited if you do not win the bid or if your winning bid is rejected (min not met)?

Thanks for filling my sponge...

Wayne, does your response mean its somewhat of a bait and switch - or just that I could possibly win the bid but not win the property?

Ok, I am perusing the Auction.com website looking at properties in my area and i see properties with a bid price within my reach for my first flip. Looks like an opportunity to pickup on my first. But, you only see the couple of pictures of the outside and there is a flag on the posting that says do not disturb the residents. 

So, is it "safe" to bid on units in this case that you cannot substantiate the value or the repair effort? Is this simply part of the gamble you take?

If the unit is occupied, does that mean you have to absorb the expense of eviction? 

Thanks all for the feedback.