All Forum Posts by: James Austin

@Cal Ewing I'm by no means an expert, but my only other suggestion is to really do your research and go with what you analysis says, and then make a decision. there is still the possibility they will call regardless just out of curiosity.

@Cal Ewing just a suggestion but you could send two letters in different languages, or one side is English the other is the other language? I think it also may depend on time of ownership?

@Amit Dave You can start your LLC like you have done in the past, just ensure you have a good operating agreement, since your working with a partner it will outline what each of you will be doing and how you disperse the funds. If your going to do business in diferent state you will have to register with those states or research their reciprocity.

@Nikia Johnson if you are not hiring them as employees then it is up to them to do a 1099, but really unless they make a certain amount to claim it. 

@Nicholas Patrick you don't need a license to wholesale since your not actually buying the property, your selling or assigning a contract. If you want access to the MLS but don't want to deal with agents then that may be a reason.

One thing you can do is go to Home Depot or Menards or such and get a kit, swipe a swab and send it in for testing, its really quite cheap, the other thing is and no I'm not doubting your expertise but could it be mildew, that can appear black, and if that's all it is you can clean it off and repaint or such.

@James Danchus your best bet would be to get a list of questions together that would let you know if it is going to be a good deal or not, by asking specific questions and building rapport you should be able to figure out wither or not you can get it at a discount, use comps too, find out what other places are selling for around them.

@Sylvia Dong I think the only benefit would be the comfort level you have in using your source instead of someone else, and then when you negotiate you can ask that they use your title company. Just my opinion though, I'm sure some other BP'ers will have a better answer.

After reading a little on some other posts, I think the confusion is that you can only hold 4 land contracts a year, which I believe differs from assigning a contract.

https://www.biggerpockets.com/forums/93/topics/109979-michigan-wholesaling

I'd be interested in get an answer on this question as well, thanks for asking @Alexis S.