All Forum Posts by: Quinten Jones

@J Scott Wow!! What a great article! This explains the need for me to go back to the drawing board and consider what I am capable of doing now with the resources and capabilities that I currently have. Maybe wholesaling is where I should start. I could do that, and save money with the goal of ascertaining my first project in the coming future. Taking baby steps and reaching an ultimate goal is what I should be striving for, in addition to gaining much needed experience from an investor in my area.

I have been doing alot of reading and there are essentially many areas of Real Estate Investing that I could get into that suits me best. Thank you and all of my BiggerPockets family for your much needed advice and

@Margo Roberts , thank you, I know bookkeeping, payroll and tax preparation so maybe that could be something I can offer someone in exchange for their mentorship. @Ryan More , lol...I know all about the gurus that are out there, let me tell you they are a complete joke. I even had one guy tell me that I was never going to make it in this business because I wasn't willing to pay him $4,000 for basically nothing in return. How is the market in Houston/ Southeast Texas? I feel like Texas would offer some great opportunities.

@Marty Happle Thank you for the advice. I will keep working at it. I am not going to give up. I am in the process of looking for investors up here who will give me the time of day to learn the business. I am not a quitter and I will keep at it. On another thought, I am originally from Texas. When looking at the market there, I realized that there are house movers in the Houston area that will see you houses that need repair for pennies on the dollar. I talked with my brother about buying some of these homes, and putting them up on lots in Southeast Texas and renting them out. Of course, I still need the experience first, and I will pursue that experience with a trusted mentor. Again thank you for your advice and comment.

Thank you @J Scott I will start actively looking for experienced investors here in Northern California to get a good start on investing. Also, I purchased your Flipping book and it was a good read. The financing portion is the challenge for me. I will keep moving forward. Thank you again.

@J Scott Thank you for the information. My father-in-law is a General Contractor and he would be helping me with the rehab. I do understand your point about having experience. I just want to get started in Real Estate Investing, and it is proving itself to be extremely difficult. Would you suggest that I get a Real Estate License, and build a network; then look for someone in my area who does rehabbing for a living and work with them for the experience?

I am thinking that if I get a Real Estate License, then I will be able to at least generate some income as I venture into Real Estate Investing. What would be your advice for someone as green as I to get started in Real Estate Investing. My goal is to get into Real Estate along side my horse breeding business.

Thank you.

I have been doing much thinking about Joint Ventures. I do not have any money as of now to start a real estate rehab project. What I am wondering is, how difficult is it to find someone who has the cash to acquire and fund real estate projects including rehab cost? I would put in the sweat equity in finding the properties, managing the rehab, and coordinating the sale of the finished product.

Any helpful suggestions or comments would be appreciated. Thank you.

@Roger King Thank you for your great advice. In thinking about it, you are right, I should just go ahead and start somewhere. I think that I am going to set-up a Trust for each property with Liability Insurance and have my Primary LLC own those Trusts. Second, I will set-up another entity that will have a contract with my primary LLC to manage its Capital Assets, and it in itself would be covered by some form of Liability Insurance. Again, thanks ever so much for your great advise.

Good morning everyone, I was up until 2 AM this morning reading various articles on the best type of entity structure for my real estate investing business. From what I have gathered thus far, forming two LLC's to operate the business is the way to go. For example, Investment Company A, LLC to hold all of my Capital Assets that is managed by a seperate Investment Properties B, LLC that would bill Investment Company A for its management services. Additionally, Investment Properties B would lease the Capital Assets of Investment Company A in the name of Investment Properties B, thus therefore putting more of the risk with the Property Management LLC and less risk on the actual Capital Assets contained in the LLC created for holding all properties.

I am concerned with the costs and management of forming different LLCs for each property in California, as California does have the $800 minimum tax. Also, would I have to create another LLC to hold Capital Assets located in Texas, or could those Capital Assets be thrown in the original California LLC and registered in Texas as a Foreign LLC?

Another thought, let's say I did go ahead and group all residential properties within LLC-A, and then formed individual Trusts for Commercial Properties, could each Property Trust then be owned and controlled by the LLC? Anyone have any thoughts on this set-up for my business?

Thanks!!

I plan on being there. I am excited about meeting other investors in the area.

@Dmitriy Fomichenko Thank you!!