All Forum Posts by: Franco Carollo

Looking for helpful information. I want to focus on helping people in the foreclosure or auction stage. Whether it's keeping their home or selling keeping as much equity as possible. I believe I can help and still get paid. However, the matter of liability has been brought to my attention. I was told told the way to avoid being sued is to be come a Real Estae Agent. I don't want to become an agent. Is there anything else I can do as a Wholesaler to minimize the possibility of being sued?

When going into business regardless if it is RE or anything else it is wise to protect your personal assets.

You do this by creating a LLC, that should be your first step before even trying to wholesale, or even buy a investment property. This will protect from any personal liability when conducting deals or owning/buying RE.

It will also allow you to appear a lot more professional when pitching a deals to possible buyer with a business name on the note vs your own name.

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San Diego, California

Quote from @Mike Klarman:

Hi Christian, welcome. So, how do you start? Real Estate is a game and it has game pieces and a playing board. It's your job to know the role of the game pieces and position them on the board in a way that most suits your bottom line. Who are the game pieces? Lenders, agents, wholesalers, brokers, contractors, distressed sellers, capital sources, gurus, internet forums on real estate, other investors. Know the game pieces and know how best to maneuver them.

It takes some time to set the board up the right way.

Anyone with credit of 680 or better and capital can get started. Capital is the big barrier to entry for most. You really need 50k to start and then make sure you get into the right market where your exposure on any one deal all in is 25k.

I advise people all the time on how to get started. I helped lots of BP members get into deal 1. I'd be happy to talk to you about how to make yourself ready.

Great info! I’d love to connect with you and talk to you about obtaining my first deal!

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Chicago, Illinois

Quote from @Christian Anderson:

Hi everyone, I'm writing this post because I want to get into house flipping but I don't know how to start. I would love some insight on how I should start and how to get funding to actually do the house flipping.

please and thank you.

Do you have a market and a buy box?

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Chicago, Illinois

Quote from @Dylan Lersch:

Im a new investor and I've been running some calculations with the BP calculator and I think I have found some good deals but I do not have the best credit right now (middle 600s) and I do not have the proper funds id be comfortable with, with buying a investment property to try and BRRRR or just upgrade a few items. Should I try to save more money and improve my credit for a better rate or try to get creative financing for my possible investment. Thank you in advance. ( Also I'm in the middle of BRRR book so I'm feeling motivated )

Hey Dylan,

I am also a local investor in your area, I would love to connect with you and see how we can each be of a value to each other. Sent you a DM.

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Chicago, Illinois

Quote from @Katie Smith:

Hi Franco! Welcome to the BP community!

I would love to hear more about the specific goals that you have. Are you looking to start with fix and flips, build up your cash, and then acquire rental properties?

I would also recommend building out your team, and attending local networking events to get in the room of like-minded people. Once you have your team, and a general idea of financing, find the right property! Starting off with a fixer upper in your area would be ideal, so you can keep an eye on the project and not rely on an agent/contractor to do this. Flip a couple of properties, and then start to build out your portfolio!

Sending you a message so we can connect further. Let's hop on a phone call and go over all your questions in detail!

That's the thing i'm a still stuck on. I am not sure what strategy would be the best to start with. My long term goal is to acquire rental properties, so do I try to start out the gate with a small rental that I can afford at the time? or do I try to do a flip, but capital and time is a bit time for something like that, nor do I have a team in place for that either. So I am not sure. At this time ive been just looking for a rental property that fits the numbers.

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Thank you all for the helpful information ! Looking forward to learning more from everyone in this community.

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Hello all, My name is Franco Carollo. Ive been wanting to get into Real Estate for many many years now, but life took it course. Its time for me to get serious as I want to build a long term rental portfolio that can carry on through my golden years and for my children to one day take over.

I am currently looking to start around where I reside in Plainfield,IL the South Suburbs of Chicago, IL. Id love to connect it anyone willing to share some advice or guidance to help me get this ball rolling. Thank you!

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All Forum Posts by: Franco Carollo

Franco Carollo has started 2 posts and replied 17 times.

Post: Foreclosures and Auctions

Post: Looking for helpful advice/insight. Beginner here!

Post: Looking for helpful advice/insight. Beginner here!

Post: Wait to build credit or try to buy a investment property now

Post: New to Real Estate investing.

Post: New to Real Estate investing.

Post: New to Real Estate investing.