All Forum Posts by: Jason Ballesteros

Cole,

Would it not be more expensive for you to do it in a land trust as it costs to create the land trust? Or do you have a trust already that you would just put the property into? I would think the first two ways you gave would be more cost efficient, or no? Newbie trying to learn a little more about mobiles. Seems interesting for the amount of investment you are putting out there for the possible return.

Thanks

Jason

Will

It just goes to show that with hard work and continued determination, you can take your investment business anywhere you can imagine.
Congrats on the interview and article!!

Mike,
Yeah it is a small world. My fiance and mom work down at Olin as well. My father and I have a good relationship with a few banks in the area so I know we have a few options to address there. I am just wanting to learn the right things that will help me understand this niche business. Rehabbing is my thing, but I would like to understand different options for purchasing before the home falls into the REO category. I am learning and have tons of information with BP and books that I have purchased to help me get the know how I need. It just is alot to try to decipher in the beginning, but I feel like everyday I am learning more and more. Everyone that I have asked a question to here on BP has been awesome.
My other issue is that I am kind of partnering in this business with my dad to start, and he has an agent that he has used in the past personally that he has approached to help him find some properties for us. I dont want to cut him out but I feel like I can find the properties just as quick as he can if I do my research. I know who the different REO listing agents in the area are. I just need to get past the point of making the buyers agent happy every time and getting the deals the best I can for our business. We will get there though.
Harrison, Thanks for the advice. I know that it is hard work and not easy but if you strive for something and don't give up until you have it, anything is possible.
Appreciate all of your information and support.
Thanks

I have been a member of BP now for about 2 weeks and I have to say that the information is in great abundance here. That is sort of my problem. I am taking all of this information in, but I think I am trying to take it in too fast and need a little advice on where to start. Too many niches that I didn't realize existed.
I am looking to learn a little more about buying properties before they hit the MLS as an REO. My father and I have flipped a few houses already and fared well buying them as REO, but we can do better. I did not understand some of the aspects of real estate until I came here to BP.
Any advice as to where I might start putting together this information so I can act with my two feet forward? I want to learn more I just need to be pushed in the right direction.
Any books or other information I can use would be appreciated. Thanks again Everyone, I appreciate the advice.
Jason

I have to second Clint. I have only bben here a couple of weeks and I have to say I think I have given myself information overload. There is so much to learn here that it is incredible.
Work hard and try to ask as many questions as you can if you hit a sticking point. Everyone here that can help WILL help. I am a rehabber and I am right up the road. I am trying to learn the investment aspect of real estate as well.
Good Luck!!

You have to remember though that vinegar is an acid and will etch the grout. You are cleaning the grout but you are also opening the pores of the grout to more dirt. If a sealer is applied after the cleaning then you will save the grout color for a few years longer than if you don't seal.
A P.H. neutral cleaner should be used with water as the weekly cleaner. Windex is an example.

Yeah Bob the Vinyl planks are very durable. I have a room in my basement with the 36" x 6" planks. They look like an old wooden saloon floor. Pretty neat stuff.
Laminate installation is fairly simple and not nearly as labor intensive as glue down or nail down hardwood. I prefer the laminate that snaps together as versus the glued seam versions. From many faulty laminate installations, the most issues I see are with glue together laminate. Installer gets the glue strip too wet and the seams show badly in the floor.
ALLOC brand laminate is sweet stuff. Expensive though, but locks together like butter. There are still midgrade laminates that install easy as well.

I did also get a nice hammer-head sized dent in the tub. Would not have been too big a deal if they had fessed up when it happened. But it was covered up with debris and I didn't discover it until they had been paid. Grrr.

That's a bummer Jon. Not a whole lot you can do at that point. Seen is happen a few times to Corner Jacuzzi Tubs with drywallers. They try to hide it with mud, and when I get into the tub to do my tile surrounds I clean them after completion(tub included) and find the hole/crack. Then I am a paronoid wreck because I think the homeowner or contractor is going to think I was responsible.
My solution is to clean out the tub completely now before I start. Saves my *** in the end if somethins up. Can't catch everything though

As a Flooring Contractor I would have to advise you to hire a professional to do the job. If you have carpentry type skills the layout part should be very easy to you. Depending on the tile(porcelain or ceramic) will depend on what you can use to cut the material.
These types of things, if you are not confident about doing them, can seem simple to do until you are down on the floor actually doing them.
If you have any questions don't hesitate to ask, but IMO tackling a tile job is not as easy as it may look to a novice.

Also, what if the company leaves some excess money in the corporation at the end of the year. Will that be subject to a different form of tax or is that marginal tax rate + FICA. I just wondered if it would be smarter to pull the money out in the form of dividends and then just reinvest in the company the following year.