All Forum Posts by: Jamie Parker

that's awesome. Pm sent @Roger Poulin thanks everyone for the input and feedback. 

@Brandon Hall I'll will do that. I just thought I needed to have my expectations in order before going in and speaking with someone. 

Ned Carey because of my w-2 income; if I made 30k in additional income that would put me in a 28%-33% tax bracket. But if I separated my income from the entity I assume an LLC would get a flat tax of 30% but that would be separated from my W-2 income allowing me to balance my accounts separately. I greatly appreciate the feedback.

David Dachtera Robert Herrera Ned Carey I appreciate the input. The reason I am think more intently on my options in this matter is that I also plan to cherry pick my wholesale leads to acquire rentals and flip opportunities. Since it it hard to determine when flip and rental opportunities will come, should I look toward getting a tax ID number or creating an entity now. Or wait till I have a something that fits that criteria first then form an entity to place these holdings in for legal protection?

As an wholesaler, when is it smart to decide to form a LLC? Do I wait to build traction in the business or should start one right away. The purpose for this question is due to the tax benefits that may come with an entity. If I were to claim everything I earn as additional income I would be paying more taxes come tax time. I would like to get some clarity and more understanding in this area. Any thoughts?

Robert Armstrong what branch are you in? I'm active duty navy myself. I'm a navy recruiter in Nashville currently. I use my weekends and time after work primarily to do my real estate activities. I heard the latest podcast with @Tom Krol, he mentioned that was one of his first deals. How far do you want to take MHPs as an investment vehicle?

I will add to what Samuel H. Bolton said. The bidding wars on MLS properties and the new construction going on in Nashville is epic. I would like to know what was the criteria for making this list. If these other areas are booming more than here I would like to see what that looks like.

If have a good deal they will buy. Im not shure how the new construction would go out in these areas but, rentals and flips, are a being bought everywhere. Im working a deal in centerville now.

@Reggie Burnett @Matt Leavell @Victor Gootee @Patrick Sanders. Im a wholesaler in nashville. I have come across deals that work for some and not for others. I would say that when scoping a deal what is the intended spread that you look for @15%, 25-30% margins? I would be interested in knowing that information. There are deals to be had but would you say that knowing what you know what profits you want will help you find deals more efficiently? 

Hey Brady Olson I'm an new investor as well. I'm using the wholesale part of the business to learn the game. I don't know much about the contracting side of the industry and would like to learn more about it. I'll send you a colleague request. We should meet up to see if there is some why we can help each other in this tough market.