All Forum Posts by: Jacob Michaels

@Account Closed said about finding free mentors---you don't need just one, really. Add value to them and their business, and experienced people are usually happy to share their expertise with those who are sincere, want to learn, and willing to work hard.

I tried to tag @Chris Clothier in the previous post

@Antonio Marte  There are some good turnkey rental companies operating in the Dallas area that you can find by searching Google or even just Biggerpockets. 

I know @Chris Clothier 's company Memphis Invest (and Dallas Invest) does turnkey rentals so they would be good to check out. Chris is a longtime BP contributor and I think was interviewed for a podcast episode previously. 

@Antonio Marte To find a good deal, I'd suggest getting on the local wholesalers' radars to hear about off-market deals that you can get for a bargain. I'm a wholesaler myself, and I don't do mass email blasts. Send me your criteria and I'll see what I can do to help. 

A little word of caution though: often the best deals are gone before the new guys see them, as wholesalers tend to try to get the deals sold first through our top buyers and secondarily through others on our list. It doesn't mean they aren't good deals that will work for you, it just means that they may not be the slam dunk home runs you'd like to see. The market is really competitive these days and you have to find deals any way they come. 

I'd also recommend you verify all information you get, and bring along an experienced investor with you when you visit the houses. 

@Antonio Marte What are you looking to do in Dallas? Find a property to invest in? 

Thanks @Matthew Rembish I just checked out their site. They seem to be based in Utah and would get my business registered in Utah.

I wonder if anybody has any thoughts on the pros/cons of registering my business in Utah when my investing business is in Texas?

Hello all,

I have been operating as a sole proprietorship for my wholesaling business and I would like to get set up with an LLC and work with a recommended real estate expert CPA, or get it set up through a real estate attorney.

I assume since my business is Texas-based it would be better to have a Texas-focused CPA and/or attorney, but I'm not sure about that.

Can anyone make any recommendations with people they work with?

Thanks in advance! 

Jacob

@David Begley Wow, so if it's a $100k 10% loan for 9mos, you're saying I would be paying $10k over the 9mos?

@David Begley Just to clarify, does that 10% over 9mos mean 10%annualized over a 9mo period, so effectively less than 8%, or is that a full 10% but paid over 9mos?

Thanks @Daniel Ryu Very thorough rundown of the meeting!