All Forum Posts by: Michael Bando
Michael Bando has started 1 posts and replied 2 times.
Post: Propwire and Propstream: general questions
- Posts 2
- Votes 0
Quote from @Account Closed:
Quote from @Michael Bando:
I am just getting starting (aka havent really yet). I am looking into all the tools and seeing how to get started. If i could get some help with initial questions it would be much appreciated. They are probably basic but it would be very helpful.
If I am just doing this with my wife and we arent planning on owning the real estate but just wholesaling and backing out if we cant facilitate a deal before the 30 days is up do we really need to have an LLC? And if we did an LLC wouldnt we be paying taxes on the business then again when we pay ourselves?
If we arent planning on owning the properties do we need to do inspections or send an inspector out to the property?
The estimated repairs on some of these properties are they estimates. As long as there is a disclosure about them being estimates is that ok?
Where do you get the photos for a property? Do you go out and physically take them, ask current owner (if possible) or just use google maps?
I am sure more questions are to come but these will help me understand a few things.
Are you aware of the risks and liabilities of backing out? I beleive you should get some training before you get yourself into trouble.
Well that's why i asked the question. If the contract has a 30-day out then what consequences would there be? If you put there an inspection clause then all you would be out is the inspection costs, correct?
Post: Propwire and Propstream: general questions
- Posts 2
- Votes 0
I am just getting starting (aka havent really yet). I am looking into all the tools and seeing how to get started. If i could get some help with initial questions it would be much appreciated. They are probably basic but it would be very helpful.
If I am just doing this with my wife and we arent planning on owning the real estate but just wholesaling and backing out if we cant facilitate a deal before the 30 days is up do we really need to have an LLC? And if we did an LLC wouldnt we be paying taxes on the business then again when we pay ourselves?
If we arent planning on owning the properties do we need to do inspections or send an inspector out to the property?
The estimated repairs on some of these properties are they estimates. As long as there is a disclosure about them being estimates is that ok?
Where do you get the photos for a property? Do you go out and physically take them, ask current owner (if possible) or just use google maps?
I am sure more questions are to come but these will help me understand a few things.