All Forum Posts by: Maxwell Fontaine

Congratulations man ! That’s awesome, you found the cash and you had the knowledge. That’s not luck that’s being prepared and saying yes to opportunity. Thank you for the story. Great post

DO NOT WAIVE INSPECTION FOR YOUR FIRST PROPERTY !!! 

First off, congrats on getting in the game !!!

Second. I would recommend going through your first property trying to hit as many steps as you can (within reason obviously). Will it be more meticulous? YES, and with it comes a much better understanding of your first investment and making it easier for future investments; rather than maybe cutting an in the moment small corner to save a couple dollars. The ROI on that inspection can pay off thousands down the line.

CONGRATS GUYS !!! The first one is the hardest, huge mile stone !!!

Thank you Mr. @Ron Fletcher, I did not think of the increased property tax at all after the renovation. In terms of the rent i do live in the area and the $800 is a little under the median but I did want to be cautious. 

I really appreciate your input. I need to recalculate the numbers.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello Fellow BP'ers

I am looking to gain some info and possibly some results.

I found a property that was vacant for a bit of time and the owners decided to fix it up to sell. It was stripped all the way to the studs. I am currently waiting on a refi to free up some cash.

I reached out to some people in my local REIA group to look for partners to help purchase this property.

I'm blessed enough to have 2 people who are interested in in partnering (co-ownership) on the property. Splitting the cost 50/50 and the profits.

Question:

How would you guys structure this partnership before moving forward on this opportunity? 

In terms of keeping both parties legally protected financially and legally?

Thank you in advance !!!

Thank you so much Ms. @Linda Weygant and Mr. @Brian Schmelzlen for your inputs, that honestly was very good to hear. I genuienly appreciate you both for sharing your knowledge with me. 

I was very lost on this area and I now know which path to further research. 

THANK YOU !!!!!

Hey BPer's,

I was just looking into accountants and i came across EA agents and CPA.  I believe both are accountants and offer up general accountant functions BUT I believe the EA agents is more up to date on state laws and can represent me in front of the IRS. 

My questions are:

1. which is the better option to realistically to have ?

2. is the pricing difference worth the quality of work ?

Any tips or pointers or info I am missing is accepted, please and thank you in advance !!!

Hello BPers,

I have been seeing more and more information come out saying that buying property through business credit is a very good way to build wealth and to aquire real estate.  

My question is, has anyone that may see this post gone through that process at all or know what to expect with a realistic point of view, and what details to look out for ?

Secondly, what are your thoughts on using this process, buying proerty using business credit ? Is it a legitimate way to expand a big faster ?

Thank you for any and all input !!!

Happy Thanksgiving also !