All Forum Posts by: Greg Kousoulis

For my startup, I am looking to file as a Delaware C-Corp. I have been looking into what is needed, and I am struggling with understanding certain aspects.

The first thing I am trying to understand is the officer secretary. If I am correct, 1) whoever is appointed can sign legal documents on behalf of the company 2) just about anyone can be appointed as the officer secretary. I am wondering if me being not well-versed in various legal documents, is this a position I should outsource, or are these legal documents fairly standard?

Also, I know there needs to be at least one shareholder. Does this shareholder have to be someone different from the director, and do they have to be a non-owner. 

Hello! So based off of a previous thread I created, I was wondering how exactly someone could wholesale from a property they won on Auction.com. 

 That's exactly what I was thinking. So in the scenario of closing it myself and then wholesaling it, do you know how that process would look like to reassign the contract? Would I just close on the property and then once I find an end buyer, just fill out an assignment of sale before I would have to purchase the property through Auction.com?

Hello everyone! I recently have came across a means of wholesaling through Auction.com and want to know if anyone else has done this or what their thoughts are on it. 

Through Auction.com, you have one business day to complete the contract agreement, etc. after you have won the property with the highest bid ( I know Auction.com has the final say if you won or not if the reserve was never met).  According to Auction.com, if the contract is not filled out after the one business day, they charge you $2,500 and just relist the property at a later auction. With that being said, has anyone wholesaled using Auction.com and if so, how? It seems to me that the turn around time of one business day is almost not realistic when wholesaling. Or is it the case, that this rule of "one business day" is more of a loosely held rule and the one business day can turn into three or five? 

I'd appreciate anyone's input and would love to hear how people are wholesaling using Auction.com

Hello Everyone! I am fairly new to real estate and this is my first post on BP. My partner and I are looking to fix and flip a property. I know there's a stigma behind selling a property with low equity, but is it possible? Essentially we want to take out a "standard" loan and fund the rehab with cash (we don't have enough captial to buy properties and rehab). I keep reading that you cannot/should not sell a property you have with 1) low equity and 2) before six months (some examples I see is that it is illegal to do so due to anti-money laundrying laws). So is going the route of a standard mortgage smart/legal?

Thank you!