All Forum Posts by: Joshua Huggett

@Ron Ripley I apologize it took me so long to get back to you, it has been some time since I logged onto BiggerPockets. @Katie Lepore is absolutely wonderful but due to specifics of my questions she referred me to Tyler McQuillan. He is extremely knowledgeable, ethical, through, and kind, I would highly recommend him: 

Tyler @ weintraublawgroup . com

@Ron Ripley I apologize it took me so long to get back to you, it has been some time since I logged onto BiggerPockets. @Katie Lepore is wonderful but due to specifics of my questions she referred me to Tyler McQuillan. He is extremely knowledgeable, ethical, through, and kind, I would highly recommend him: 

Tyler @ weintraublawgroup . com

Taylor, thank you for taking the time to reply!

I have been I contact with the SEC and it seems like this business model should be safe. What issues do you see or what should I be asking them? 

I do indeed see the challenges with massive amounts of bookkeeping and Clients disputing charges on credit and debit. 

If there are solid procedures in place for bookkeeping it can be a relatively smooth yet necessary evil. 

As for chargebacks, these can be mostly avoided with a solid TOU agreement and worst case, we give back a few dollars and we won't be losing any tangibles, only time. Having it be direct investing only and not using credit/debit is also an option. 

A good model for this type of business is Acorns. 

There are a lot of solid REITs out there but this business model I am looking at reaches a relatively untapped market. It is in a scary world of bookkeeping and the need for a strong customer service presence to assist and educate the novice investor. This is the challenge and it looks like fun to me! 

There are a lot of great investment companies out there where you can easily invest online but the initial investment is subjectively high, some starting at $500-$1000. I see a market for those who are are wanting to dip their toe into the proverbial pool and test out real estate investing or those who don't have a lot of extra money but still understand the importance of investing. 

I am looking at starting a company with an initial investment of $50 and the option to deposit as much as you would like at anytime with no minimums and an option for debit/credit card linked account for round up automatic transfers. Dividends would be paid quarterly with the option to withdraw them at anytime or reinvest them for higher returns but the initial and core funds would be locked for a pre-determined amount of time (example: 1-5 years depending on the property.) Dividends would also be tiered depending on the core investment amount, higher amounts receive increased returns as an incentive to invest additional funds. 

The companies focus would be on Class B and C multi-family residential properties with the commitment and responsibility to creating safe, comfortable, and affordable homes for tenants, while being an exceptional environmental steward, and generating financial strength for our Employees and Clients.

I would love to hear your thoughts and questions on this! 

Thank you all very much for your time!

Thank you very much @Alina Trigub and @Jo-Ann Lapin; I really appreciate your assistance! 

Hi everyone! I am having some trouble finding a reputable attorney in Southern California, around the Orange County area, that understands real estate investments, syndication, and appropriate business structures. Does anyone have any recommendations? While we are on the recommendation subject, if you know a great accountant that understands tax law extremely well I would love to hear about them! Thank you all very much and have a wonderful day! Joshua

Hi everyone! I am having some trouble finding a reputable attorney in Southern California, around the Orange County area, that understands real estate investments, syndication, and appropriate business structures. Does anyone have any recommendations? While we are on the recommendation subject, if you know a great accountant that understands tax law extremely well I would love to hear about them! Thank you all very much and have a wonderful day! Joshua

Hello, I am Joshua and am excited to be here! I stumbled upon BiggerPockets a few months ago and fell in love with the podcast. Soon after I began reading the forums and was impressed by the passion and knowledge so many of you bring! This weekend, I decided it is time to jump in, introduce myself, and see how I can help others and continue my education into the real estate investing world. 

Thank you for having me here and I look forward to getting to know some of you more!