All Forum Posts by: Josh Bloomquist

Thanks Justin!  I'm thinking I will do the same and start with a small list and give it a go to see what I can squeeze out.  Keep me posted on your results and I'll do the same. 

I found a listing company called USLeadlist.com and spoke to their sales rep (Lance).  Has anyone ever used this list?  And what were your results?  Any feedback is appreciated!

Brian,

I'm relatively new to REI myself (1 property currently), but my CPA told me that most banks will not write a mortgage with your LLC because more than likely it has no credit history. So I went with the idea that I would purchase the property and then do a QC deed to move it to my LLC. My attorney advised me to get a letter from the lender allowing me to make that move....they wouldn't. And I've found out since that most lenders don't allow the move to an LLC through a QC deed because it technically invokes the "due on sale clause" and they COULD demand the balance of the mortgage. A lot of investors still move their properties to an LLC with a QC deed, but it's one of those things where they're just gambling that the lender won't check it and invoke the DOS clause. Though I think that's reasonable, I've decided to keep my property in my name and I've purchased an umbrella insurance policy to protect me from a liability standpoint. As I get more properties I will probably begin moving them to my LLC.

I'm obviously no expert on LLC's, but to my understanding the LLC doesn't get you any extra tax incentives, but it is a way to shelter yourself from a liability standpoint. I think it's more about how scaled up you are though.

On another note, I'd love to meet up over coffee or something sometime to discuss goals and compare notes. I'm trying to build an REI network in the area to learn more about the market trends.

I'm new to REI and looking into direct marketing mainly for my own buy and holds or flips, but I also want to learn more about wholesaling. Would someone please share an example of a contract you use when writing up a wholesale deal with a seller? Thanks!

What neighborhood in Kalamazoo is the property located?

Hi Jacques,

I'm actively marketing for leads in Kalamazoo and know most of the areas quite well.  I'm also looking for leads if you're willing to deal.  Feel free to reach out to me.

Regards,

Josh

I invest in Kalamazoo and know a good deal about GR.  Let me know how I can help.  Good luck!

Welcome to BP Ben!  There's a ton of resources on this website...enjoy!

Welcome Dylan! There's a TON of information at your disposal on BP! I'm relatively new to REI myself and learning more everyday. Good luck and feel free to connect!

Welcome aboard @Kevin Williams! I'm a newbie investor in the Kalamazoo area myself (1 property to date), so I'm always trying to learn more and connect with other like-minded individuals. Feel free to reach out if you want to talk REI anytime!