All Forum Posts by: Quinten Jones

I am interested in rehabbing properties as a way to save money to buy and hold properties. I am very green, however I have General Contractors in my family who are willing to help on the project, What would be the process to acquire a hard money loan so that I can get my first project going? I am a Real Estate Agent and I see a number of properties on the MLS that would be great starter properties. Any experiences and/ or advice in relation to hard money loans and getting started in real estate investing would be appreciated, Thanks!!

@Bryan L. I must say thank you for writing this blog post as it has really benefited me in the completion of my business plan.  Also, taking the California Real Estate Brokers exam in the next two years is a goal of mine.  This will allow me to structure MY business as I see fit without being subjected to the agenda of of a Broker who expectedly and understandably is in the business to profit.  Thank you again!!

Quinten Jones

Hello everyone,

I have been in the process of planning for the launch of my wholesaling business.  I have to be honest and say that I have been shaking like a twig and have been nervous about getting started.  In order to break it down into pieces, I would like to know exactly where to start?  What tools do I need?  Driving for Dollars: Pros & Cons? How to market my deals?  Can members post deals on BiggerPockets, and how?  

Please give advice on these basic tools that I am thinking will be required:

1. PropertyShark (To have access to the details of properties I am interested in)

2. Excel Spreadsheet for putting together reports for buyer review

3. Basic Website. (Is a website really needed?)

4. Business Cards

Any other advice helpful to a beginner for the purpose of getting off the ground.  Thanks guys!!

I am finally getting ready to launch my business soon.  Other than wholesaling, what are some other services some of you offer to build a larger profit margin.  Asset Management, Rehab Project Management Services, and the like?

It would be interesting to know if other wholesalers are offering other services alongside wholesaling.

Thanks guys!!!

@Jonathan Wilks So, what you are saying is that there is Ellem Properties, LLC and then there is a entity that can be called lets say Ellem Ventures, LLP. Therefore, any Joint Ventures or Partnerships can be transacted through Ellem Ventures, LLP. Once the Joint Venture project is done, then I would have my share in the bank and the partnership is done, leaving Ellem Ventures, LLP awaiting the next project or partnership.

You are genius, now I can finish working on my business plan & strategic plan. I do agree that Ellem Properties should be a sole-proprietorship in the beginning and then progress into a California LLC and so on. Thank you once again Jonathan.

 Maybe we can do a deal together in the future!!

@Sean Brooks   Thank you so much for your kind words of encouragement and guidance.  I do agree that I should align myself with a good Real Estate/ Business Attorney and CPA or EA knowledgeable of the Real Estate Business and Tax implications.  Yes, I LOVE business, I have always had an entrepreneurial spirit.  Take care.

@Patrick Britton As far as a business entity is concerned, I really do like the LLC because it is so flexible. I don't disagree with you that even when wholesaling, I need an entity that will offer protection. I just question whether or not an LLC will offer the flexibility to go into Partnerships and Joint Venture projects.

@Jonathan Wilks Thank you for the great advice!!  I should just take one step at a time and follow my business plan.  Yes, focusing on marketing is really huge.  I feel as though things will fall in place as I progress in my career.  Do you use both a Real Estate Attorney and Business Attorney?  Regardless, thank you for your advice.

Hello friends,

I have a question on entity selection and business structuring.  I plan on starting my business in real estate investing, effective January 1, 2015.  However, I began thinking about how I will structure my business.  Now, I do live in California and I know that the Franchise Tax Board does levy a hefty tax on corporations, llc's, etc.  

My business Ellem Properties will begin in the wholesale side of things where I can build some capital to work with. Slowly, I want to enter Joint Venture projects in rehabbing properties thus earning larger profits. This will lead me into buying properties that I can rehab and market as rentals (SFR's). Finally, I would like Ellem Properties to have enough capital to both flip and sale commercial properties and enter into partnerships on small scale commercial property development and redevelopment (Passive Income).

How would I structure all of this? Do I structure as I go? If I were a LLC, how would my Joint Ventures/ Partnerships be managed within the grand scheme of things in my business set-up?

Thanks.

Hello everyone,

I have been stuck in analysis paralysis for so long.  I have decided that wholesaling is the best way for me to get started in Real Estate Investing with the goal of one day getting into the buy and hold business.  I have begun my business plan and I am currently putting systems in place so that I am successful in closing my first deal.

The one challenge that I am having is learning how to use the county website to locate absentee owners and eviction cases to look for potential sellers.  Moreover, I would also like to understand how to use the same method in looking for cash buyers/ investors who would be interested in buying these properties.  

Any advice in this regard would be truly helpful.   Thank you...