All Forum Posts by: Mark Perrine

Landvoice is terrible. They charged me $1,499 when I attempted to call in and cancel. They charged my card on a Sunday and interestingly aren't open on Saturday or Sunday. Also their contracts explicitly states on the SIGNING LINE:

"By accepting the terms set forth and by signing below, I authorize Landvoice to charge my credit card for one (1) payment of $--" They like to refer to the prior text of renewal dates- BUT THAT IS NOT WHAT THE SIGNING LINE STATES!

I called them early Monday morning and could only get a sales guy since the customer service people weren't there yet. I asked him to cancel my service and provide a refund. His response was "That's not going to happen". (!!??)

I asked them to cancel my contract by phone and chat box on their site. Thankfully Chase Bank refunded my money but there is a dispute between Chase and LV now. I am in the largest producing real estate office in Indianapolis and I regularly train new agents including all the ones that go to BOLD. You can bet I will be telling all 230 agents in our office about Landvoice.

I do not get an explicit refund from Landvoice soon - I will start my own social media blitz on Landvoice starting with our internal KW FB page.

Terrible company - terrible service -- arrogant people. NOT customer focused and HIGHLY UNETHICAL.

Landvoice is terrible. They charged me $1,499 when I attempted to call in and cancel. They charged my card on a Sunday and interestingly aren't open on Saturday or Sunday. Also their contracts explicitly states on the SIGNING LINE:

"By accepting the terms set forth and by signing below, I authorize Landvoice to charge my credit card for one (1) payment of $--" They like to refer to the prior text of renewal dates- BUT THAT IS NOT WHAT THE SIGNING LINE STATES!

I called them early Monday morning and could only get a sales guy since the customer service people weren't there yet. I asked him to cancel my service and provide a refund. His response was "That's not going to happen". (!!??)

I asked them to cancel my contract by phone and chat box on their site. Thankfully Chase Bank refunded my money but there is a dispute between Chase and LV now. I am in the largest producing real estate office in Indianapolis and I regularly train new agents including all the ones that go to BOLD. You can bet I will be telling all 230 agents in our office about Landvoice.

I do not get an explicit refund from Landvoice soon - I will start my own social media blitz on Landvoice starting with our internal KW FB page.

Terrible company - terrible service -- arrogant people. NOT customer focused and HIGHLY UNETHICAL.

You guys are right. I failed to mention that I think the likely ARV here is $115K to $120K.

Our other option is to borrow against our homes which is probably the route we will go.  We have enough equity- it's just that we wanted to try the other route first.  

My partner is a well known successful heating cooling company owner in the area (rated #1 on Angie's List for our area) and his trust equity with these investors is VERY high.  He put in their geothermal systems.

Our biz plan is solid but maybe that is still not enough to work with no skin in the game.  Maybe we will have to contribute some.  

I would be content paying a high % return annualized to investors but the idea of them taking 10% on their investment ESPECIALLY if it's only a 60-90 day term just seems high.

It seems like we would be incentivized with more profit by a shorter term loan.  Conversely, (in my mind) the longer we hold, the more we would owe back investors.

But I really appreciate your feedback as this is our first deal.

So last night my biz partner and I sat down with two rich guys who are considering investing with us.  We presented our business plan and detailed flip calculator and specific properties that we are targeting.  They were impressed I think.

We were asking for 100% funding (no skin in the game) unless we have to.  

They wanted to give us the money if they were to get a 10% return on their investment.  Example:  

Purchase price = $50,000, rehab, closing and holding costs = $50,000

TOTAL INVESTMENT = $100,000.  

After our predicted 60 day hold (close to close) they wanted $110,000 back.  That is an annualized return of 78.6%.

Bad deal, right?

Thanks guys-

I appreciate the feedback. Is it possible to own a company 51 / 49 and still share profits equally?

I've read the great posts on this subject so far. But I still feel like a chimp with a toaster.

I'm going through setting up an LLC through LegalZoom. My business partner and I will be starting our rehab business as 50/50 partners.

I am a Realtor and marketing guy, my partner is the owner of a large heating/cooling company and experienced contractor. He has contacts that wish to invest in our business so our intent is to borrow from them as our main source of funding.

We don't plan on holding any properties, but rather stick to flipping.

On Legal Zoom even though we have been set up as an LLC- it is asking me to choose one of four options for taxation:

* C-Corp
* S-Corp
* Pass Through Partnership
* Pass Through Sole Proprietorship

I guess rather than to ask for advice (although I welcome it) - is there a way to find a good CPA or lawyer in my area on BP. I'd rather look here first than go through the Yellow Pages.

I really appreciate any ideas or help.

Hi Taylor-

I'm new to BP and live in Noblesville. I just posted on the new member introductions. Just launched an LLC with a business partner. Wondering if you have a suggestion for a good (and reasonably priced) real estate attorney in this area?

Maybe we can meet for coffee or something

Thanks

Hi there-

Excited to be bart of this BP community! Just started an LLC for the new business. I'm a Realtor here is Noblesville and my business partner is a successful owner of a heating/cooling company.

We have not done any deal yet- but that will hopefully be here soon.

Very anxious to network with other local investors and expand my knowledge. If anyone local person would like to meet for coffee please contact me.