All Forum Posts by: Calixto Urdiales

Employers pay some of the cost before you get paid via paycheck and they are allowed this as a tax deduction. You will have to account for all the cost and are only able to deduct half (the part that your employer would have paid) when tax season comes. You might want to consider having a different set up for you do not want to be considered a deal.

When in doubt check with your legal consultant!

As jon has said that yes wholesaling profits are considered income and are subject to the according tax bracket.

If you have a croporation as apposed to getting taxed as an indivdual there are slight differences between their tax brackets (indivdual is usually better), but the profit is not in the bracket itself but in the incentives that one can utilize under corporate law.

You do not actually buy the properties you first obtain a contract on the property and assign it to an investor for a samll write up.

You can get them from agent but I would suggest to get them from FSBOs for they have much better potential.

Well the reason you need little or no money down is the fact that you are assigning the property and not actually buying it.

Consult an attorney about legal forms that need to be signed by the seller and investor to see that you are within the laws.

No you do not need to fix up these properties for the investment is all ready in the discounted price the investor picks it up at.

No problem my friend!

Just find out what the addresses are around the house itself and go to zillow and input one of those ones. And you will be able to find out the addresse according to directions (north, south, east, and west).

I am in California and I usually ask the investor to apply a 10% of the equity itself and we see deals that bring in $15,000-$25,000. It all depends on the investor and what they are willing to pay on each single deal. In this case I am more willing to go to an investor that will payout 15% of the equity as apposed to one that will pay 10%.

It all depends on you building your investor base.

LOL-

I was hoping it would be you Joe and here you come to my rescue, you know what I might just call you sooner than later. Quick question my friend, I have a trust structure that I want to implament can you help me accomplish this?

Thanks Joe!

Have you had any luck yet and did you want to share with us what you want to do or what you had in mind?

Thanks hope I can help.

Just google or yahoo search in your area and you will be able to shop around for what works best for you. Have the lenders work to get your business not the other way around my friend.

I have five different letters going out to abandoned property owners that owen nothing on their properties and I hope one hits. There are many ways to make a profit off of these properties without having to put all cash down. You can have seller financing or do a wrap around mortgage to get things done a lot faster.

The sky is the limit and I will let you know what happens next but from what I can see ($$$$$$$$$$$$$$) it will be very profitable.

I have about five different letters going out to abandoned properties which in turn I will have contingencies that will "be subject to". This is help me obtain the price that I want and not the price the owner is hoping for. If the owner see that I have him paying all the closing cost, me asking for credits due to this and that, subject to inspection, etc. Most likely they property itself has been siting there for some time and you have been the only person interested if they don't get a little more flexable they might loose you.