All Forum Posts by: Patrick Shep

If you're wholesaling out of state, do I need to register my LLC in each state? I live in Maryland and I've heard some people say yes and some no. I'm assuming I would need to pay taxes for each state, but I do I need to register in each state?

I’m a buy and hold investor looking for my first flip. I’m looking to network with experienced flippers in the DMV. Would love to link up for coffee or drinks. 

Has anyone invested in the monthly membership for foreclosure.com and been successful in acquiring properties? Almost all of the listing on BP are foreclosure.com listings. I think it's pretty useless that they are all posted and you can't see them even with the BP PRO membership.

Looking to hear people's experiences whether it's worth it or not.

Mike- Sorry you're going through this. I would second what Tim Hall stated. Find a framer rather than a GC for cost savings and get several estimates. Worst case you may need to cut your losses and sell it off market to another investor.

Could you partner with someone that can bring capital to fix it and then share ownership? Or think about creative solution for someone to take it off your hands. 

Hang in there!

I’m down to 15 days. I am hesitant to give a due diligence period that’s longer than a few days in case I need to find a new buyer. 

I have a template and haven’t had it signed yet. I know I can adjust but was just wondering what it normally is 

What’s the normal time for a due diligence period for the assignee you’re assigning the contract to?  The buyer has already walked the property.

🔥 RARE SFH in Riverdale Park, Md 🔥

Needs full cosmetic rehab in a prime location!

🍲 Walk to Whole Foods! They conduct the most comprehensive market analysis where they build their stores… They did the work for you -It’s a no brainer!

🎨 1 mi to Hyattsville Arts District

🏫 1.5 mi to University of Maryland

🚆 1 mi to College Park and Riverdale metro stations

🚆 Walk to Riverdale MARC station

🏢2 min walk to proposed luxury 150 unit building and retail center

———————————————

🛏️ 3 bed | 🛁 1.5 bath — 1326 Sq Ft

📍 47XX Tuckerman St. Riverdale Park, MD

🏷️Asking: $399,000

ARV : $575-$590k

💵 EMD: $10,000

🏠 Main level: Kitchen, Dining Room, Living Room, 2 Bedrooms, 1 full Bathroom. Beautiful hardwood under carpet throughout

⬆️ Upper: massive bedroom with half bath with a blank canvas

⬇️ Basement: Not finished- property records indicate finished basement

🏠 Built 1938

📝 Assignment of contract- Cash or hard money. Buyer pays closing costs

Multiple Exit Strategies:

• Flip it 💰
• College Rental
• Mid-term rental $3500-$4500
• LTR $3500
• Equity will only increase!

Comps:

4503 Riverdale Rd -575k sold 6/27/23

6212 44th Ave -$590k sold 4/28/23

🚨 Buyer to confirm all information and conduct their own due diligence 🚨

📞 Text Larry 202-480-0323

https://drive.google.com/drive/folders/15IHFMIWLE3TIdYlipHAEqwz1ziNcdr13?usp=drive_link

I have a potential opportunity to partner with 2 people. Neither has any experience in RE, but have capital to bring to the table.  I have 6 units and growing. I'm good at finding deals, managing rehabs and managing the PM or the property myself. I feel as if I should bring less money or no money  at all to the deal at all if we partnered on deal based upon me sourcing the deal and doing a lot of the work to get it off the ground and maintaining.

Am I over valuing what I bring to the deal? How does anyone else structure partnerships like this?