All Forum Posts by: Kadisha Ledford

Hi!

I'm located in CT, how do I know if the contracts that I have (p+s agreement, and assignment contract) will work in my state. If they don't then where can I get the correct forms? 

Thank you for that advice. I will definitely keep trying to gain knowledge and I am willing to put in the work. I know that its not going to be easy and I expect for things to go wrong. However, failure is apart of success. We will go to the meet-ups and hopefully if we feel confident enough, my husband and I can do our first deal before the end of the year. 

Hi Everybody! I live in Connecticut and am very new to Wholesaling. How do I go about finding a Respectable Real Estate Investing Attorney, Title company, and contractors in my area.I've tried doing some research but its hard to find people who are knowledgeable in RE investing specifically. I currently live in Hartford County, CT, is there anybody in my area that can refer some good people. Thanks in advance!! 

thank you @Omar Khan I will look into this 

Hi BP, I'm not quite sure if this would be considered a silly question, but i will shoot my shot anyway. I want to start my investment experience off by getting into rehabs. I know it would be wise to do it under a business.My question is , Does it have to be an LLC or can it be a corporation? I'm hearing that a corporation is better because there are so many tax benefits and loopholes (for lack of a better word) with a corporation. Is this true? Does anyone have any advice as to which one would be a better option? Thanks in advance!!

I've been talking to a number of Realtors who all have one thing in common, they try to convince me to consider a FHA loan versus a HML. The kinds the have offered are FHA 203k loan and the Conventional Fannie Mae Homestyle loan... Is this a bad idea? I understand the risks of a Hard Money Lender and how much more expensive it will be. However, I feel like they make these loans seem so great and don't really tell me the negatives of each loan. I kind've feel like There's a catch. Are there any negatives to these kinds of loans? If so, then what are they? Would these kinds of loans be good for my first flip?

Thank you! 

@John Woodrich Lol somebody has to be. I appreciate your honesty though and you are 100% right! It’s way too risky  @Paul Choi also mentioned that going in to a loan where I’m 100% leveraged is a bad idea. After hearing all of the feedback it also sounds like suicide #RecipeForDisaster. Lol. I think I should go, with something much safer like maybe  a 203k loan. At least until I get some equity to the property, or as you guru’s say it,some “skin in the game”. Thank you! 

@Anthony Palmiotto I do want an LLC. I was informed that if I get a HML, I might need a co-signer for the amount and the lender would cover more of what they would if I didn't have a co-signer. In order for that person to co-sign they would have to be a partner in the business, which I'm not sure if I/they would want.

@Paul Choi Someone did say this! I like the way you put it and it puts things into perspective for me—here are the options, this their requirements, this is what you need to do. I guess my next question is in the event that I can’t find the “perfect” deal, do you think it’s wise to borrow the down payment from another lender? It’s sounds kind’ve crazy but I’m not in a position where I can save that amount of money up without it taking a couple of  years (at least), family? Forget it! they definitely aren’t up for it... I feel like my only option would be another lender.