All Forum Posts by: Ernie Purnell

Hello, everyone.

Still relatively new at this and learning more processes. Can anyone recommend some good investor friendly attorneys ( I hope to find at least 3) in Chicago. Perhaps some who can explain their roles at closing or fees for services ( ie. Closing fees/ evaluating contracts before use). I am trying to get everything in line before the hiccups. 

Thanks in advance!

I set up my LLC two years ago and I'm pretty sure I used my home address. Is there any way to fix it?

Hi, Erika

Any chance I can get the referral of GC Duke Phelps from you as well? Trying to put a team together and I will need someone to walk properties with me so I have some idea of rehab costs as well as someone able to oversee the project. Thanks in advance.

Hello, Aaron,

Thanks for the answer. My plan is to try and do some wholesaling to build up some capital. Maybe even a flip or two. I'm still a newbie, but I want to experience both. I bought a buy and hold and that was quite the experience and challenge. Eventually, I would love to build a portfolio of buy and holds as retirement gets closer. According to the seminar, I should look at 100 prospects, make offers on 10 and try to close on one every 3-4 months.

Hi, Lana,

Thanks for the info. I have an LLC set up. It's a series LLC, since I discovered during my research that series LLC is the way to go rather than buying a different LLC for each property. However, no one at the county building seems to know how I go about putting property in the series. I have one property now in my LLC, but I want to try my hand at wholesaling and flipping. I don't want to have the properties connected and should I decide that one would be better becoming a buy and hold, I would like to put it in the next slot of the series LLC. Can you recommend a real estate attorney?

okay, thanks for the info!

Hello, everyone. Just recently attended a real estate seminar and it fired me up. One of the steps to getting back into the water of real estate investing is building a power team. So, I'm putting it out there. Do you have any recommendations for me to fill the following roles on my team: I would like advice on what to look for and if you have a specific person, I would appreciate that as well.

Real estate agent/ broker, real estate attorney, title company, CPA, banker, mortgage broker, contractors, insurance agent

Thanks in advance

Hi, everyone. Still researching since I am fired up about getting back in the water of real estate investing. I was wondering where you get the paperwork for wholesaling. Do I need to get with an attorney before I start and the attorney completes the paperwork or is there a generic version I can simply pull from the internet?

Thanks in advance

Hello, everyone. I am trying to get back on the horse of real estate investing. I attended a seminar and it got me fired back up. I am picking up the education again. I figure I need to do some wholesaling/ flips while looking for the buy and holds. The subject question came up during my research.  Do I need to tell the title company to put my name and amount?

Thanks in advance.

Thanks Drew and Eric. I don't have a building yet, but that is in the works and any landmines you can educate me on is appreciated. I will definitely do a move in fee as opposed to a security deposit now. Any tips on how I screen out deadbeat tenants? I know there are the sneaky tenants who can pass lie detector tests, but do you have the basic tips for a first time landlord ( hopefully)?