All Forum Posts by: Account Closed

Hello BP. So I purchased a list of absentee owners from ListSource-good idea or bad idea? Next question... So the list I purchased contains to bits of information: All Mortgage Original LTV & Combined LTV Ratio. How important is it that I know what this is? I would greatly appreciate it if someone were kind enough to to explain this to me Thanks BP! Best, Jorge

Go with your gut and leave it alone.

@Dennis Cuocci I am no expert on how to set up LLCs because I have yet to do one. In my research I have found that Deleware and Nevada offer the best protection. I intend to file in Deleware in the near future while I own property in California. 

Hello BP! Anyone own, operate or have had experience with mutual-family properties in Victorville, California? Any advice-yeah or nay? Thanks.

@Claire Trammell thank you very much!

@Albert Bui thank you. 

I'm getting ready to start mailing letters to those in pre-foreclosure. A couple of questions: 1. Any advice as to what it should say? For example do I write: 'Your property has been listed as a pre-foreclosure'... 2. I plan on obtaining a PO Box because the last thing I want is angry property owner at my house. Good idea or should I attempt to obtain a physical business address? Also I'm in the South Bay Area of LA County and starting off as a wholesaler... I'm in need of buyers. I would like to partner with you if at all possible. Thanks.

Al Johnson I'm just staring out myself so I don't have answers to all of your questions but I would let the seller know that you are working with other investors and there is a possibility that one of those investors may possibly be involved in the deal in order for the seller to be satisfied financially. That way it doesn't look shady and you keep your good name in tact. A good name in this business goes a long way. Just my two cents... Best of luck.

Tim Richardson if I may kindly recommend a book by the title 'The E-Myth'. Wether you get into real estate or continue with your practice it's a great read.

For what it's with let me tell you guys what just recently happened to a friend of mine. One of his tenants slipped and fell. The tenant most likely would have been ok but since a chunk of the cinder block wall on the owners property had some how broken, the tenant hit his head on the cinder block on the way down. This happened last week and the tenant is still in the hospital. Fortunately for the owner (who I saw today) he's treated his tenants well. They don't want to sue him( I'm sure the tenant can still change their mind) as of now. But he doesn't not have his property protected by an LLC or in a trust. If this tenant wants to sue him, he is up the creek with no paddle. As for feeling ripped off because you filed your LLC in Nevada- I'd rather spend the extra money because Nevada LLC laws offers way more protection that California. I've heard and read that Delaware is even better than Nevada. Just my 2 cents guys... Best of luck to you all.