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All Forum Posts by: Matthew Sullivan

Matthew Sullivan has started 24 posts and replied 52 times.

Post: Wholesaler looking for BUYERS

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

 I'm currently struggling to find cash buyers or any type of investor that can fund a project or purchase a house form me I look to assign. I sent out 200 post cards for leads to pre-forclosures and I would like to have buyers arms length and just a quick call away.

Post: Looking for Partner/Mentor in the Long Island / Metro NYC Area

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

Hi Michael I don't live too far from your town. Lets connect I will PM you..

Post: REAL ESTATE INVESTING TEAM SEEKING TRAINEE$$

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

is there a base pay?

Post: Wholesaler looking for BUYERS

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

I am looking for investors, rehabbers, contractors, or anyone who is able to purchase properties with high equity. I currently wholesale in Nassau and Suffolk County of Long Island NY. My goal is to provide any investor who works with me a house or property that allows for a large enough spread after any carrying cost, taxes, fees, or commissions, holding costs, etc. PM with your information to contact you and we will be in touch. I currently have a handful of houses I am looking to assign. I always provide detailed photos and videos for all interested investors before the person interested in my properties make a trip to the subject property to determine if the property will be of any interest for their real estate goals.

Post: Ugly House with A LOT of spread to be made after rehab!

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

Great house for flipping/rehabbing. Comps have easy resale of $350,000. This house needs a decent amount of work put in but still leaves room for an easy $40-45,000 profit after carrying costs, etc. Google drive link is below to check out photos and videos of house. PM if interested

https://drive.google.com/open?id=0B4O_iAySCK3YSGhf...

Post: New at Investing and struggling with a few things

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

@Faith Matini I would personally recommend doing anything real estate related under a business entity. Typically many personal based real estate business are LLC. LLC is easy because any money that is collected can be used personally and easily transferred to your personal bank account. A 1099 is whats used as your tax income form. Under a corporation there is more guidelines such as meeting minutes to be recorded etc. Its beneficial to use a business entity for real estate investing because there are more tax benefits to you such as 1031 exchanges, personal liability is limited, looks more professional if you're going to be working with agents and other investors in real estate. If you close on any deals your lawyer would write it out to business but you can just transfer money to whatever account you would want the money...just think if you make money and record under a corp you'll have to pay a tax for that and then if you pay yourself a salary under the corp then you'll be paying an income tax for your self so it's almost like double taxation. I rather have a business entitiy- which is just a piece of paper- hold the baggage than me personally unless I am buying a property I will be living in and renting out.

Post: Ugly House waiting for the right flip!

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16
Originally posted by @Alexander Spira:

Hi there,

Is this property still available ?

 add me and pm for my contact info..lets discuss today about house.

Post: Need an estimate based on pics of how much Reno would cost!

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

Hey guys

So I have a house I am looking to buy but I want to get an idea of how much work you think the house needs. The roof I know is in complete shambles and needs to be replaced completely..The google drive link is enclosed..I'm looking for cost from a rehabbers point of view not homeowners cost...I am trying to get an idea from multiple sources..

Thanks!

https://drive.google.com/open?id=0B4O_iAySCK3YTDVy...

Post: Ugly House waiting for the right flip!

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16

Alexander call me today I will be around let's discuss? Did you take a look at the google drive link?

Post: How much should/can I offer below Listed price of a Short Sale?

Matthew SullivanPosted
  • Real Estate Agent
  • West Islip, NY
  • Posts 63
  • Votes 16
Originally posted by @Brandon M.:

You are an agent as well, why don't you just place the offer for them at $180k with yourself as the agent? Yes your commission would only be $5000 but then you don't have to deal with the assigning a short sale issue or the ethical issues someone will bring up on here about not doing right by your client as an agent.

 Hi Brandon- Yes I am an agent but I am looking to wholesale as an agent. I would be representing myself as the client and being an agent since my offer would be made under the corporation. As a wholesaler I find it more ethical to use a n agent that knows the area of interest better than me and can provide me with other great deals when then come his/her way. The goal as wholesaler is to create good relationships with other agents. I do have my license but I only use it as a side option for friends and family not as an investor.