All Forum Posts by: Greg K.

I started thinking he was slimy when advertising male enhancement pills and preaching law of attraction nonsense on his podcast. I brain dumped everything he said at that point. There is no way he didn’t know what was happening, selling houses in those war zones.

@Trevor Schuler

I have one rental currently, but I am close to acquiring first BRRRR using cash. Targeting 50k purchase price and about 70k all in with renovations and closing. I think if you can come up with the cash, obviously that's advantageous compared to paying hard money rates etc. Mind you, it has taken me ten years of learning, planning, set backs, and saving to get to this point.

@Blair Poelman

I know this is an older post, but what do you mean about doing deals? Wholesaling or bird dogging deals to investors?

This is the type of jedi mind tricks I'm interested in learning about! I will provide feedback after my call...

Originally posted by @Steve Hall:

I went down a long road with Sutton Law / Corporate Direct trying to structure my businesses. PM me if you want the scoop. Anyway, at the end of the long road was a PDF document (the Articles of Organization) for which I was charged $695, plus $102 filing fee (for WY), and a $50 EIN fee. (They give you one year free Registered Agent (RA) service and then charge you $125 per year after that.) 

Two scams here: First there is the $50 EIN fee. I found out that you can get an EIN for free from the IRS in 5 minutes!  The second scam is the $695 for the PDF. It's just a Word doc that they fill in the blanks, click Export to PDF, and then email to you. When I found that out, I asked for the Word Doc file. Lisa claimed: "it's not our policy to provide the doc file but I will ask my manager".  Then Stephanie emailed me and said that Garrett told her to refund my money and say "sorry we could not help you." 

Wyoming Register Agents will set you up with an LLC for $199 and then only charge you $99 per year for registered agent service.

Wyoming Agents only charges a $150 setup fee... or even $125 if you file yourself! Wyoming Agents only charges $25 per year for registered agent service. And I found out you can switch RA's to Wyoming Agents any time, for just $25 per year.

I too was fooled by the "Rich Dad Advisors" badge, but boy was the air let out of my tires. Now I will avoid all of the Rich Dad Advisors.

 So are you saying they did not provide all the things outlined here?

According to that page, they should have provided Bylaws, Stock certificates, etc. If thats the case, there is a red flag. 

But I don't think charging 50 bucks to go get someone an EIN is a scam; they have to go obtain it for you, which takes a degree of effort on their part aka work. Which, as an ironic twist, the IRS "EIN Assistant" service is currently down...maybe that's why they charge. 

If they truly aren't providing all the extra services outlined in the table over the $199 providers, then thats a problem. 

I plan on talking to them, as their sales pitch of being asset protection ninjas interests me. I'm specifically interested in the WY entity/strategy as that's a level of sorcery I'm not getting from local attorneys I've talked to. 

@Lance Lvovsky sent!

Looking for recommendations on Florida business/corporate attorneys for structuring and establishing our LLC.

Originally posted by @Jared Decker:

@Greg Kapourellos feel free to get in touch when you do decide to invest in Tampa. My company specializes in SFH and multiplexes under 100 units.

Will do, thanks!

@Scott Rubzin yeah I think so, but it’s actually in the Panhandle. We’ll see how it goes here...will start buying SFHs in the Tampa area.

@Scott Rubzin $250 tenant placement/lease negotiation fee and 10% monthly management fee. They are allowed to repair up to $300 monthly but they generally ask first; I have to maintain a $500 repair fund. This is my first manager, but came highly regarded by family and I haven’t been disappointed. I think you get what you pay for, so not trying to trip over dollars to pick up cents by trying to drive their fee down. Also, this is in a small market in Florida.