All Forum Posts by: Michael Myers

I ask one company why they felt this way, she said "if you buy a distressed property for 25k knowing you have buyer for 50k you are taking advantage of the seller" I thought well maybe, if she hadn't said "distressed" property & 25k is probably an unlikely markup.

any wholesalers or RE investors in Iowa that can refer me to a good title & closing company

so, I have my heart set on wholesaling real estate, and in searching for a closing company several local companies have said they don't double escrow because they feel its unethical.

I can make the argument to myself why it is not but, that might be because I want to be convinced its ethical

what yours thoughts??

what is the 2% rule

I'm very new to real estate an i'm only repeating things I've recently read, but I believe you could do a 1031 exchange. if i understand it correctly, if you take your gains and invest it into a larger investment property you don't have to pay capital gains taxes. i would like to hear others input on this as well

hope that helps.

great thoughts an ideas everyone, any other input would be greatly appreciated,

would putting my personal residents in a LLC for liability reasons be a worth while move

also I've heard for liability reasons you shouldn't have any property in your name but put it in a trust or LLC or something else

my first thought was for tax benefits or other bennifits I haven't thought of, and whether it would be beneficial enough to do it

and second since I plan on renting it out down the road just doing it for the experience of starting an LLC or corporation & going through the steps of becoming a landlord using myself as a guinea pig

Thanks John that's great idea

can I rent to myself through an LLC, corporation, or through any other means? & would this make any sense? I don't have any other real estate or businesses, I plan on renting out my house when we move to other house 1-2 years from now, family of 5 annual household income 85k. What's your thoughts?