All Forum Posts by: Moshe Eisenberg

Hi guys, I have a question which I think the best answers would be from those who do several flips a year with different partners/investors. I'm working on several rehab flips right now. All in NJ. I have every property under its own LLC for various reasons. My question is if the right way is to have individual LLC's for each project or perhaps have 1 for all. I'll list here some pros & cons of either. Pro individual LLC: Most importantly, cause I have different partners in each; for liability reasons especially when having a few project at the same time & for simplifying bookkeeping. Pro 1 entity for all: While applying for loans I notice that since it's individual entities I'm paying app fees & processing and closing fees per property (it totals to around 2k each). If I had it all under 1 entity I would've saved on that. Another pro 1 entity is the cost of forming the LLC which is a few hundred bucks. Plus in NJ there is a minimum annual tax (I believe it's $500) per LLC. This all adds up to a few grand. I wonder how the power flippers (specifically in nj) do it. I did discuss with @Scott Smith about series LLC. I believe that might be the right answer but I just don't know of anyone in NJ that has their business set up that way. Any advice would be greatly appreciated! Moshe

1- I bought the basic version for under 100 bucks and it's beyond amazing how much value this has to any flipper. Even as I'm still new in this it's extremely helpful figuring out the true numbers; it lays out the deal specs the way lenders & investors wanna see it. Truly a must have. 

2- @David Robertson I wanna tell everyone that I quite frankly drove you nuts today via email and phone. And you patiently walked me thru as I entered in my entire deal and you answered all my silly questions. You're such a mentch!

3- @J Scottthanks for recommending the software. I did find out about it from your email and I'm so grateful. 

Typically I only buy if the seller agrees to the following; I add around 2-3k the the purchase price to cover for removal of the oil tank "before" closing. If all goes well I'm in. If any issues arise it's their issue to deal with. Although when buying from banks or short sales this may not be an option. But you gotta be really careful. A bad oil tank could eat up all your profits (or worse). 

@Donald Placide I'll be able to answer that after I sell ;-)

Hi yall, I just wanna share some good news. Today I had an underground oil tank removed at 1 of my rehab projects in jersey city. Thank god it went extremely well. No leaks or cracks. Soil is clean. Tank gone. Movin right along.

Hi,

I'm working on a few rehab projects and I'm looking for a good handyman to do some work. I have 1 project near Clifton, 1 project in Jersey City, 1 near Newark. If anyone knows of someone good please be so kind and share with me his contact info. For the right handyman I can have quite some work between all the ongoing projects. 

Thank you!

Moshe Eisenberg

Valley View Equities

845-222-9224

Hi guys, I would like to try a direct mail campaign to hime owners in the area I'm focused on. So far I have gotten my deals from brokers/wholesalers and I wanna try this DM technique. The thing is that on a few of the podcasts I have heard them mention a few good resources for companies that do these lists but I never wrote down the names of these companies since I wasn't doing DM. If anyone can please help with who provides lists of target audiences I would greatly appreciate it. Thanks in advance! Moshe

I'm so lucky I found out about Bigger Pockets. I've been listening to the podcasts for the past couple of months and I'm amazed at how much I've improved in my investing since I started listening. I'm so grateful to Joshua Dorkin and @Brandon Turner for providing us with such amazing info on this exciting industry. I'm not very active on the forums due to my schedule but when I do happen to check it out I'm just as stunned. The most valuable info delivered on a gold platter. You guys are truly amazing! Thank you so much and keep up the great work!

I believe the best way is obviously thru referral from other investors in the area. The challenge is that those other investors may not be happy to share the info cause they don't want their contractor to get to busy with you and not be as available for their projects so what I've done is I asked my RE broker if he knows which contractor his other clients are using and are happy with. For me this worked out well. Sometimes good home inspectors may know of good contractors that do quality work and they have no reason not to share who they are. I have also tried HomeAdvisor and Angie's List but I can't say anything about them before those projects are complete.

Interesting question. Is there a way to see which RE brokerage has been doing the most sales in a specific area? I'm working on who I should list a property with. It's an area that I'm new to. I was thinking if I can find out who has been doing the most sales in this area in the last few months that should probably be the 1 I would like to have as my sellers agent. If anyone has any insight on this please let me know. Thanks! Moshe