All Forum Posts by: Julio Velazquez

Looking for an attorney in CT who deals with wholesaling. Want to put in an offer on a property the realtor is asking for attorney info.

@Basit Siddiqi thank you, I’m actually in CT now. I just moved earlier in the year I’m focusing my business in CT as well.

Hello BP,

Started my wholesale journey, looking for a real estate friendly CPA. Someone who’s dealt with wholesalers or is dealing with wholesalers.

@Chelsea Monk I’ll get on that with my attorney right away thank you, youve been so helpful I greatly appreciate it.

I wasn’t aware of that with the S-Corp thank you.

@Michael Plaks I can’t say I’m good or bad just starting have yet to get a property under contract but it’s only been 2-3 weeks now and we have put a few offers in . Lol

I wasn’t even thinking about the expenses, I do some driving for dollars but I mainly use PropStream and the mls for deals along with other strategies.

I figured it wouldn’t be per deal just figured i should probably set something aside so when tax season comes I have set the correct amount aside. But now I understand it’s based off my entire income and what bracket I fall into.

Thank you for the help.

@Chelsea Monk thank you for replying and providing great information, I actually haven't started an LLC or an S- CORP. I was planning to start under my name then open an LLC or an S-Corp what are your thoughts on that?

I just started wholesaling, I haven’t landed a deal yet. However, I do have a few offers I’m waiting to hear back on. In the mean time I want to know how does taxes work for wholesalers. If I make $20k from a deal how much of that should I be setting aside for taxes..

Currently do not have a CPA, actively trying to find one in the CT AREA.

@Bob Stevens that makes total sense. I appreciate the sound advice! Thank you.

@Bob Stevens I appreciate your advice. I’m trying to do just that see what the price of rehab cost. Thats why I want to partner with a GC before making any offers.. I spoke with an investor I know and he said rehab Is calculated differently by different investor. Some would say use a price per sqft but he doesn’t do it that way. So I’ll love to learn I figured a GC would be a person to ask to do a walk through on a property just to get an idea of what things go for roughly. That could be me just being naive.

Thank you I truly appreciate your response.

@Bob Stevens honestly I don’t not as of yet. Looking to get my first deal. Want to build a team while I get my first deal.