All Forum Posts by: John Giamundo

thanks again everyone. I value all of your opinions. what in your estimation is a good amount to have available for marketing? also, do you agree with me that before i start marketing, that I make contact with an attorney in my area who understands the wholesaling process, and have him draft me some contracts that would be favorable to what i am about to do?

Well gentlemen thankyou for all of your feedback. This site is such a great tool. I appreciate the opinions as they are coming from guys who are walking the walk. I do hope to join you all one day soon and move from being a voyeur to actually getting some deals done myself. It is SO overwhelming though getting into this without say graduating college for real estate investing or something. I need to start to actively make a move, and my concern was just that I didnt want to do that in a way that would not yield me results and cause me to back out of what my gut tells me would be a great thing for me to get involved in.

I am new to real estate investing. and to this website. SO i set up my keywords to track topics i am interested in. one of those was wholesaling. I am shocked at the amount of conversations revoving around wholesaling, it causes me to wonder if the market is not already saturated with wholesalers. I am wondering if I should even bother in this area of real estate investing. what do you think?

It would be hard for me to give you a ballpark figure to go with because i'm not in your area, and have no legal contacts there. However, I would point out to you that you should just make sure that whoever you go with specializes in structuring businesses, or at least actively practices in that area. You definitely don't want to pick up the personal injury attorney who will do this one on the side. You want someone who can properly advise you in the areas you need it. Best thing to do is make some calls, or check some websites and look at the areas of practice. See if you can get a feel for it. When you find one you are comfortable with, call them up and ask them for a range that they may charge for this service.

I know I'm a newbie but I am a lawyer. I have to say a partnership agreement is THE defining agreement that protects you, your partner, and delineates all responsibilites of the parties, including what to do when you cant agree on things, and what happens when you want to break up the partnership. There is no way I would cheap out on this. Its not worth it in my opinion. Invest in the Lawyer.

Hello ladies and gentlemen. I am starting to get ready to put my feet into the game a little bit and I wanted to consult with a real estate attorney on long island that specializes or is familiar with investment property techniques and strategies. Does anyone know of one where i can begin my search? Much appreciated.

Sounds good Tia, I guess my point is, I'm not going to use a real estate attorney who doesn't know that I am doing wholesaling or who doesnt know about wholesaling - because then he or she cant tailor those contracts to my needs.

Hey Tia, I'm just starting out in Commack NY in real estate investing. I really want to get into the buy and hold but, i'm starting out with heavy financial burdens so i probably am going to look into wholesaling too! I was thinking my first step would be to find a real estate investor attorney who would show understand how to draft me up some relevant documents that I would need to do this. Did you go that route? Do you know any? Good luck to you! :) Why does NY have to be so expensive!

Hello, i thought I should introduce myself. I've been a person very passively trying to learn as much as possible watching, reading, and realizing that thats not going to cut it. So I stumbled on this website and so far it looks awesome. I wish i had found it earlier on. So, my name is John, I'm a lawyer on Long Island NY and I am restless. I didn't realize when I went to lawschool and took out all the loans (since my family with good intentions could not afford to help me) that coming out of it all would put me in such a financial struggle. I really wanted to start my own firm, but you can't do that without paying for your expenses - which thanks to the lawschool, I have a lot of. (As you can see, I'm going to run on a little because im an open person, and since this is an intro, you may as well know me)

Before I went to lawschool I saw Robert Kiyosaki on Channel 13 and I was excited by what he was saying, but I honestly forgot about it for a while, as my life was heading in a different direction. Once I realized how constrained I had become by choosing the path that I did (financially,) that Kiyosaki video, and the books I had read somewhere along the line began to gnaw away at me and basically absolutely destroyed my ability to be a happy employee.

Before I went to lawschool, I went to business school at Hofstra, and I also used to own my own landscaping business, when I was in highschool. I literally started it out riding a bicycle and dragging the lawnmower and equipment behind me. But I built that up to a point where i had two vehicles, and 75 customers in a pretty close area. I gave that business up foolishly without trying too hard to find a buyer so that I could go to lawschool and devote my time to that.

Thats basically my back history. Over time i became more and more interested in wanting to build a new type of empire. I really want to build a real estate business. My fear however, and the thing that prevents me from moving forward with it at this time, is that I have accumulated a lot of debt, and family responsibilities that I fear will prevent me from getting a loan for an investment property, and also not having an excess of available cashflow to be able to build up a down payment. New York is expensive! I have no idea how I can get around this, and believe me, its not because I havent tried to figure it out.

Ultimately, I hope that introducing myself here as openly as I have will show you all the kind of person that I am, and I hope to make some friends in the business, perhaps some future partners, and some mentors. I'd love to be able to build a team and gain the knowledge that I need to enable myself to make the first real step to aquiring some cash flowing real estate.

I know this was long, thank you for taking the time to read a little about me.
~John