Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kenneth Germann

Kenneth Germann has started 11 posts and replied 43 times.

My market is 800 cities in the US. I have buyers that buy in 800 cities :) I am not limited to a specific geographic location. I won't do California or Hawaii.

I am operating in Orlando, Miami, Jacksonville and Pensacola.... in Floria. 

Go buy this list of hedge funds that buy houses. There are 393 buyers in this list. You reach out to the hedge funds on the list to see if they work with wholesalers and what their buy boxes are... https://megahedge.com/products/real-estate-hedge-fund-list. I don't make any money from making this recommendation. I want to help people new to wholesaling!

You can hire real estate photographers to take photos of the property. You need to give them specific instructions on what you need pictures of. This is one of the easiest methods I have seen so far to get boots on the ground... the other option I was going to explore is since I am a free mason, I could reach out to the local lodges to see if a brother from one of the local lodges can help out :)

Quote from @Christie Gahan:
Quote from @Kenneth Germann:
Quote from @Kenneth Germann:

i don't see the reason why I need to have 25 LLCs. I am working with my lawyers on this issue.


 I am not going to pay 25*600 to file taxes for each entity :)


 Kenneth: Get you lawyers to make a list for you that cross references the states you are interested in investing in with their state income tax laws.  Some states have zero state income tax.  Some states will require you to file income tax in their state if you make any income there.  Your home state may require you to pay a second state income tax on profits as well as the federal IRS bill.  


 State of Wyoming has no income tax for people or companies. I will need to register as a foreign entity in each of the 25 states I will be doing wholesaling and flips in. As I am doing deals in each state, I will register as a foreign entity until I am registered in all 25 states. The downside is I will need to have to do a tax return in each state I am registered in that has in income tax.  I am not paying any federal tax with the way my company is setup. You run the business at a loss or have an offshore entity own the company and legally move the profits offshore through dividends and transfer pricing :)

Are you checking with Realtors as well in your search? They have the pulse on the local market as well. 

Post: I am new to wholesaling

Kenneth GermannPosted
  • Posts 45
  • Votes 16

My name is Ken Germann at Arion One Capital. I am new to wholesaling. I have everything setup to start doing deals. I am setup to sell to hedge funds. I have a list of 3 main hedge funds I can sell to with another 380 hedge funds as my back up.  I am looking to hire an experienced wholesale expert that is doing at least 10 deals a month to help me with creating the offers to the sellers and the buyers from leads that I have coming in. I'm starting a marking campaign in the next 7 to 10 days that will bring in 20 to 30 leads of motivated sellers in by buy box in the next 30 days.  My buy box Single Family. 3 bedroom, 1.5+ bathrooms, 1+ car garage. No pool. Built in 1965+.

Post: What tools do you use?

Kenneth GermannPosted
  • Posts 45
  • Votes 16

What are some of the tools you use when you are looking to make offers to sellers and buyers? I am looking to see if there are any tools for determining the MAO, repair costs, etc.

I was thinking of the form idea myself. I have a list of 393 hedge funds that buy properties.  :) 

I have a buyers list. I want to introduce myself and get their buy boxes from them. I am curious if anyone has an example letter they use to introduce themselves to the buyers. I have a list of hedge funds that buy properties. I want to start building relationships with my buyers. Your help is appreciated.