All Forum Posts by: John Rubino

Brooks and Tom are accurate. All taxes get paid by recipients of the proceeds for that business (owners and/or investors). Check with your local accountant, but for short term projects or where you are not an "equity partner" you should have your accountant prepare a 1099 for you and/or folks receiving proceeds from your business. For equity partnerships or Joint Ventures you will go with a K-1 statement for Short/Long Term Capital Gains. Hope this assists you and good luck.

John

Hello BP.  Looking to work and network with Maryland and Virginia Wholesalers. 

Would like to stay in Montgomery, PG, Charles, Anne Arundel, Calvert Frederick, and Howard counties for Maryland.

For Virginia looking at Fairfax, Arlington, Prince William, Stafford, Fauquier, Loudoun, King George, Clarke, and Warren counties.

Please send me an email or BP message to connect and discuss more.

Thanks,

John Rubino

Great questions and awesome follow-on posts.  I love BP!

Myisha.....all good info here. We have a local DMV REI at George Mason that meets once a month. Our next meeting/get together is next Tuesday 21 Oct. It's going to cover a lot of the basics on finding deals, rehab strategies, and other items when you are looking and executing a rehab/flip property. Should be a great meeting.

I am also a Private Lender in the DMV and have done a few properties in PG county/southern MD.  Shoot me a private message and we can discuss more.

Have a great day and talk soon.

Regards,

John Rubino

Sure would Jennifer.  However, we'd like to get to know you a bit more along with your business, markets you are in, and how we could best serve your funding needs.  Send me an email with some background on your company or your business and I will send you a copy of our parameters document.

Have a great evening and I look forward to talking with you.

Regards,

John Rubino

Jon,

Are you planning to form an LLC and go after fix and flip properties?

Marvin,

Thanks for the note.  Wish you all the best on your future endeavors and keep us posted.

Regards,

John

Hi Marvin,

Thanks for the post. Our minimum fee is $15,000 so a $50-$60K deal would put you at a 33-40% fee which is very high, but the margins on your ARV even with us making $15,000 on the 60K investment are very good. You would still earn close to 45K after the 8% closing and commission costs. We'd be interested in a deal like this after we completed our due diligence and had the chance to get to know you a bit more. We are not funding deals in Texas as of yet but if you are working projects on the east coast keep us posted.

Have a nice day,

John Rubino

Stick with the conservative numbers. On a 25k rehab it sounds like your timeline is short to have it ready on the market. Fall/winter is approaching so I'd recommend looking at historic comps during that timeframe. Va Beach also has a big military conglomerate and spring is a better time as military usually rotate in spring. If you went with a 175 ARV to be safe (160k net) and buy it at 120k with the 25k rehab your at about 15k profit (little over 10 percent) on your investment. That's pretty good at a conservative stance. Good luck and keep us posted.

Nice response @Michael Evans. We work with some high end DC companies.  There returns are very nice.  Most of their equity deals ranges from $500K-$3M.  I would definitely put some of that money into one or more of those deals.  The rest would be diversified into some long-term investments and for my kid's college savings.  I'd also look to maybe start a portfolio of some rental properties as well.  Its nice to have streams of income coming in from multiple locations.  Your question really has me thinking...."I wish I had this problem" LOL.

Maurice.....you should check out our monthly REI in Fairfax (George Mason).....We have about 100 members. If you have interest shoot me a message.