All Forum Posts by: Joy Jones

And by LLC I mean a separate one for the flip, not my construction company..

Wow I certainly overlooked that major fact! I have been reading on the subject matter and failed to see this point. Thanks so much! Best to buy in the LLC from the start? Or switch over to LLC at closing? Thanks again!

Thank you so much! Yes assets are very limited. I'm working with a HML and wondered if I should just do the 1st flip in my name. Wondering if the LLC would just make sense later on, as my goal is to keep flipping for at least 6 times for active income before doing any buy and hold. I forsee any lawsuits doing the flips as I own the contracting company doing the work. Can you ?

Need help! Upcoming 1st Flip working w/HML. Should I put In my construction co. LLC or open new LLC?

Thank you so much!

I’d wholesaling considered illegal in NJ, Saw conflicting answers as to the definition and legality of selling a contract. Any information is helpful. Thank you.

Thank you! Flipping seems most fitting, for now with the passive income as a near future goal. Thanks again!

@Arianne L. Thank you for sharing your experience is so inspiring. Like you, my family life now requires I spend more time with them, as my father just recently died and my mom now lives with me. We have a contractor company that provideS home improvements. My question is: I want to borrow from a hard money lender to do our first flip, Do you recommend I hold off on the flip and rent it out first, THEN later FLIP as you did one year later?

thank you for all the information! I hope I was clear: 

I was planning on using a private lender to buy a distress property using LLC on paper, fix it, then use fha to buy back in my name.

Does the same rules apply.

Hello BP, wondering if it's legal to buy and flip a house with my LLC (cash), rehab, then turn around and buy the house retail (after rehabbed) in my personal name using FHA bank loan? I plan to live in the property. My goal is to have the LLC take The profit off the sale to use in the the next flip. Also, is W2's the only way Bank makes you eligible to refi on a BRRRR.. 2 strategies I have been researching and planning, just making sure I cover all basis as much as possible. Thank you for your time. As my future in REI grows, I also hope to share best practices and lessons with my BP family along the way.