All Forum Posts by: Kirsten Braddock

I have an opportunity to purchase a property from another investor with seller financing. Im new to investing and this would be my first seller financed purchase. Im looking for some guidance and suggestions on the best way to structure this deal. The property is $80k and rents for $925. 

Looking for cash buyers that are interested in single family residential in Jacksonville and Ponte Vedra. Please provide your full name, email address and phone. Also, please let me know if you have specific zip codes you want to be in and/or a price range you would prefer. Thanks!

Thank you @Patrice Penda. I have recently discovered podcasts by Mark J Kolher and find him really insightful. Im still trying to wrap my head around who to trust for my books. I may be small now, but want to build a long term relationship with someone. 

Hi @Basit Siddiqi, thank you for your explanation. If I'm making less than $40k right now, but then ramp up over the year and end up making over that, should I change my corporate setup at that time or should I set up the s-corp now with the hope that I will make over $40k? If I dont setup an s-corp right now, would I be okay with setting up the wholesaling business in an LLC?

I'm looking to set up a business entity for wholesaling. Should I use an LLC or a c-corp or s-corp. Any recommendations? 

I've also been looking at using services from either Anderson Advisors or ProVision. Has anyone had success with either of these companies or think they are worth the expense?

@Kevin Martin I was wondering why you don't like to invest in Springfield. We have been looking at properties in that area and thinking about doing some reno projects. 

How were you able to purchase 15 SFH over the past 8mos?

@Brian Burke Would love your feedback on how to achieve my goals...

Our goal for 2018 is to own 12 rental properties. We are newbie investors with 1 SFH under our belt. We have $27k in an IRA that we are using to help us kick off our purchases. The price range for the homes is around $50k each. So purchasing the first 2 is pretty straight forward (20% down /conventional loans). After that we plan on tapping into a HELOC to purchase 3 more in the 2nd quarter.

After this, I'm a little unsure how to purchase the remaining 5 properties as we won't have anymore cash reserves for the 20% down needed for either conventional or hard money loans. We thought seller financing could be an option, but doubtful we can get all 5 this way and we would still need money to put down. We've also partnered with a company named "Fund and Grow" that can access business funding via credit cards. The money is interest free for 6-18mos. Figured we could use this for the down, but then we would need money to pay the CC back after 6-18 mos.

In addition, we are going to start the year wholesaling properties to raise capital.

Would love some guidance on how to move forward!!

Thanks for the advice Ron! I have been analyzing all the properties. Love the tools here on BP. We have been listening to Clayton Morris and following his strategy for acquiring enough properties to reach our "freedom number" (enough to cover monthly expenses after fully cash flowing). This is the reason for the 12. All of the properties I have reviewed have good ROI. Just struggling on how to achieve the goal with limited cash.

Our goal for 2018 is to own 12 rental properties. We are newbie investors with 1 SFH under our belt. We have $27k in an IRA that we are using to help us kick off our purchases. The price range for the homes is around $50k each. So purchasing the first 2 is pretty straight forward (20% down /conventional loans). After that we plan on tapping into a HELOC to purchase 3 more in the 2nd quarter. After this, I'm a little unsure how to purchase the remaining 5 properties as we won't have anymore cash reserves for the 20% down needed for either conventional or hard money loans. We thought seller financing could be an option, but doubtful we can get all 5 this way and we would still need money to put down. We've also learned about a company named fund and grow that can access business funding via credit cards. The money is interest free for 6-18mos. Figured we could use this for the down, but then we would need money to pay the CC back after 6-18 mos. In addition, we are going to start the year wholesaling properties to raise capital. Does anyone have advice on how to move forward? Would love some guidance!!

hi Jonathan. My husband and I are investors and wholesalers in Jacksonville, fl. Please send me your email, phone and price requirements. Looking forward to helping you reach your investing goals!