All Forum Posts by: Jason Layman

An accountant told me that Scorp is the way to go because the IRS looks at you as a "more real" business and you may have less auditing issues. He also told me that an LLC can file as an Scorp by signing a form at tax time. I have not done either. He was not specialized in REI. I would get a few different opinions.

You can find a lender who does asset based lending. The numbers on the deal will have to be very good. You could also get creative and try to come up with some amount of down payment, even if it's just $5k. It will look better than zero. Hope this helps

How did you find the property?

I have not yet found a property.  I am trying to get everything in order that I can so when I do I can move quickly.  If you don't mind sharing or if you want to message me privately, I am interested in their downpayment terms and their rates for short and long term.

Has anyone on here ever built there own?   I would like to know the results.  

I am looking for anyone who has worked with any lenders in Nc. Specifically Raliegh and Fayetteville areas.

@Dawn Brenengen Do you have a percentage of homes you sell that are flips?  I am going to get my license in August.  Talking to an agent at Keller Williams, he said the Fayetteville market is good right now for them listing and selling flips.  I am wanting to do a mail campaign and can't decide between Fayetteville or Raleigh.  I might split and do both.

I think I will be going with Keller Williams to do my 2 years under a broker.  Really great atmosphere and I like the idea of building your own business while there.  I am more interested in the investing side but if I have to work under a BIC then I might as well maximize the time there and learn that side of the game.  I have to sit down with them and see how "investor friendly"they are.

Reach Out to Cedric Stout on here.  He is in Jersey but I think he deals in NY as well

How far do you want to travel

I am researching hard money lenders.   I am sending out a direct mail campaign tomorrow and looking for some contract assignment deals.  Long term I am looking for rental properties.  I don't have a load of cash to put down but I wouldn't want to pass up a buy and hold deal.   I do have some to invest .   Has anyone worked with WPI?    My credit got a little dinged over the last 2 years of hardly working in my trade, so I feel that may be an issue.   I have seen some places that base there lending on the deal, not your credit.    That may have been on flips though, which I am not interested in ding at this time.   Thanks