All Forum Posts by: Melissa Webb

I am looking for a title company which will do double closings and a Real estate Agent who is willing to work with an investor (and is one his/herself). Looking specifically in Simi Valley, CA. Is there anyone who can recommend someone, or is one of these entities themselves whom I can contact? Thanks

Congrats, Tim on your 1500th post. Your every word has been heard and appreciated (have to admit, I havn't read all the posts, but the ones that I have have been very beneficial!)

Thanks for the articles, Tim. I love your comments. I completely agree with both you and Richard (especially Richards comments of "Once the 'enititlement class' gets a taste of handouts, they'll never give them up.").

Thanks Harisson. This helps and should get me on track.

My tax consultant helped me form mine (although there is a tax attorney in the building).

Is a Hard Money Lender an option? As long as the numbers work (rent/income vs. expenses) you could do a short term HML until you can acquire your down and a traditional loan to pay back the HML.

MikeOH has a good point about the credit cards also. I've actually used credit cards as a down on a property and paid them back in six months (I actually used one of their 0% special 6mo rates they send out every now and again-so it was six months of $20,000 with no interest). You just HAVE to make sure you pay it back on time or you are looking at very large interest rates and fees.

Take Care,
Melissa

If you already have a property under contract, keep it in your name and then form the LLC and perform the QuitClaim. If you don't have any properties currently or under contract, get the LLC. It's like the chicken and the egg; it doesn't matter which comes first, as long as it gets done.

Help! I have my personal goals and my business goals, but how do I put them into a good business plan? And, how do I create a good action plan (if anyone has a good pre-made action plan for wholesaling or finding motivated sellers, that would be helpful too)? :help:

Matty, I was reading through past posts, and came across this one. I know it has been quite a few months since you posted this question, but I figured that I'd throw in my $.02. I live in CA, and have opened one of my LLC's in Nevada. This is a "flow through" LLC (my properties don't stay in it very long). Yearly fees are $100.00 and the late fee is only $75. You do have to have a valid working address in the state you open your LLC, so if you have a property or family member that can collect mail for you you should be able to use it. But, as always, you should probably consult with a good tax advisor or tax attorney.

By the way, what did you decide to do?

Well said Matty!