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All Forum Posts by: Jason K Green

Jason K Green has started 37 posts and replied 66 times.

Post: Tulsa Cap Rates

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

Nate, thanks for the feedback. I am actually looking at a small SFR in north Tulsa. I'm guessing market value is around $40k. Not sure how much work it needs, but it certainly needs some.

Post: Tulsa Cap Rates

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

Are there any investors in the Tulsa area that can tell me what a realistic cap rate is for that area?

Thanks in advance!!

Post: Is my wife financially responsible for failed RE deals?

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

Great feedback everyone. Thank you for your help. I certainly need to speak with an attorney and get things set up correctly.

Post: Is my wife financially responsible for failed RE deals?

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8
Originally posted by @Bill Hamilton:

Keep in mind, I am not an attorney, but it looks to me like California is a community property state and therefore any debt acquired by one spouse while married, becomes the responsibility of both individuals in the marriage. Because she automatically owns half of any property or asset you acquire during the marriage, she is also on the hook for the debt.

Is she protected once an LLC or corporation is established?

Post: Is my wife financially responsible for failed RE deals?

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8
Originally posted by @Nino Alfano:

If one fails in REI. They either messed up one area or all areas.

  • Projected ARV
  • Projected rehab costs 
  • Projected length to sell home Once complete 
  • Escape plan if home doesn't sell, rental numbers must cash flow. 

So if she made a mistake on all of those yes Id blame her. I'd also blame you for not doing your own due diligence on the property. 

Run your numbers 3-4 times and triple check comps and really go into the buyers. When they are buying how many buyers there are. How long does it take to sell. What do the comps list at. Check price per sq 

 Nino, you're missing the point of the question. Ask any of the most successful investors and they will tell you that they have had deals that were not profitable. My wife is not at all involved in real estate. I am investing, not her. If I borrow money to buy and rehab a property, is she responsible if they deal goes south?

Post: Is my wife financially responsible for failed RE deals?

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

I am getting started in real estate investing but my wife is concerned about what happens should a deal go south. I have not yet set up an LLC or corporation. Will she be financially responsible if I enter into a deal that fails? I will not be using traditional financing. I plan to use hard money or private lenders. Obviously I do not plan to fail. I am patiently waiting to find a truly great deal. I just want to put her mind at ease.

Post: Google Voice or alternative?

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

I want to get a business number and was thinking of using Google Voice. When you receive GV calls on your cell phone, do you still also get calls from your regular phone number. For instance, if I had an iPhone through AT&T and my number ended in 1234 and I then got a GV number that ended in 6789, would I receive calls for both numbers on the same phone? If so, is it possible to tell (via caller ID or some other method) which number is ringing? I want a GV number for business to keep business and personal calls separate. But I don't want to answer my business number with an unprofessional "Hello".

Post: Google voice

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8
Originally posted by @Elizabeth S.:

I also use Google Voice as a secondary number when I'm renting a property. It helps me to be able to answer my primary line and have confidence that it's someone who I want to have my number and not a potential tenant calling to ask about renting my house. 

I want to get a business number and was thinking of using Google Voice. When you receive GV calls on your cell phone, do you still also get calls from your regular phone number. For instance, if I had an iPhone through AT&T and my number ended in 1234 and I then got a GV number that ended in 6789, would I receive calls for both numbers on the same phone? If so, is it possible to tell (via caller ID or some other method) which number is ringing? I want a GV number for business to keep business and personal calls separate. But I don't want to answer my business number with an unprofessional "Hello".

Post: Google Voice

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8
Originally posted by @Jacqueline Carrington:

I love Google Voice and use it as my business phone. It enables me to screen calls and/or forward straight to voicemail after screening without even "answering" the call. Plus I know any calls that come through to that number have to do with business and it all comes straight to my cell phone.

 I want to get a business number and was thinking of using Google Voice. When you receive GV calls on your cell phone, do you still also get calls from your regular phone number. For instance, if I had an iPhone through AT&T and my number ended in 1234 and I then got a GV number that ended in 6789, would I receive calls for both numbers on the same phone? If so, is it possible to tell (via caller ID or some other method) which number is ringing? I want a GV number for business to keep business and personal calls separate. But I don't want to answer my business number with an unprofessional "Hello". 

Post: Business structure

Jason K GreenPosted
  • Finance/Banking
  • Irvine, CA
  • Posts 77
  • Votes 8

I currently live in Southern California. My brother lives in Oklahoma, where we grew up. We have agreed to start a partnership where I will handle the marketing and find the deals there in NE Oklahoma while he physically goes out to look at the houses and manages the wholesale or flip. I plan to find my own real estate deals here in SoCal as well. We will split our OK deals 50/50. I'm wondering what the best business/corporate structure would be in order to execute our plan. Can I use Legal Zoom for this or should I find an attorney? Does it need to be an attorney in OK or CA, or does it matter?