All Forum Posts by: Mylinda K.

I posted my wholesale dilemma in the buying and selling forum. It was deleted and the message I got said it belonged in the classifieds, and that forum doesn't exist. Where do I put wholesale deals on here? 

Yes yes, I wasn't very clear on which protection I was writing about. I meant when it comes to getting sued, because a lot of people thing that the LLC alone will protect you from that. You can Sole Prop and just get insurance for that.

Hello All,

I am happy to have become a new member of Bigger Pockets. I have been learning off and on in my local REIA group and via YouTube University.

Over a year ago, I had come across these wholesaling videos from time to time. Once you watch one, the algorithm activates and you are recommended more and more. With some of these videos produced to get your attention, I honestly thought it was a scam. Well one day, I bumped into someone that had just starting out wholesaling, and we had a short discussion. I had an epiphany that day when I realized it was a legit career option. If this was real, I could help people and make dam good money doing it. However, I didn't know anything about investing, and I didn't know anything about real estate. I had to learn more from the best resources. As they would say, the future information was like water coming out of a fire hose.

I spent all my energy and burned my eyeballs watching as many videos as I could. I particularly enjoyed the beginner wholesaler videos. But I didn't start work right away. I had to slow down and take my time with learning. It takes a lot of mental energy to learn something new. I didn't want to get burn out or exhausted. I was also healing from an illness. I didn't start work until I felt I could be crispy and clear. We are dealing with people, their feelings, and contract negotiations. I needed to be focused, on point, and to be able to retain all this new information that I had learned. 

One negative thing about me that has been a negative my whole life is that I'm an annoyingly optimistic happy people person. Like, morning no coffee and still happy type of person. I am an introvert, but I will easily strike up a conversation in the store with someone and as we leave, my kids ask, "Did you know them?" I say, "No, why?" It is because the way I am with people, it is easy for you to feel like you have known me for years. This can be annoying and embarrassing to my children. However, I have found the positive to my negative. It is called people skills and communication skills. And I just have it. It may be annoying to some, and maybe even weird, but I now feel that in my line of work, it is a must. 

My aspirations are to wholesale until I feel I don't need to anymore. It will be my only income until I buy and hold enough not to, if then. I do plan to buy and hold soon. I am in Ohio. Dayton is my back yard, but I am from Cincinnati and I'm comfortable with that area. I also plan to move to Pennsylvania by end of summer. So Central PA will be another target area after I move. I think the End Game will be to become an Ender.

I hope this has been interesting enough for an introduction. Feel free to reach out to me to network with each other.

Mylinda K.

Hello there,

It's my understanding that the LLC alone does not offer you protection, it merely separates you from your business, hence the limited liability aspect. You are not liable, your company is. As for protection, you need insurance for that, and not necessarily an LLC, if protection is your goal. If you do not separate yourself completely from the LLC, you will be considered one in the same, and you will have liabilities. I heard you can put your properties in a land trust and then transfer them from you to your LLC if you wanted anonymity of the ownership your properties, that's just one aspect. But I did read and hear that traditional lenders don't like LLCs. I believe it is because they want you to be personally responsible for that loan, and with an LLC, you are separate from your company and cannot be personally responsible for debts. I am new, and I hope my choppy explanation offers some help.

Hi there,

Look up on Facebook the group Dayton Real Estate Investing Network. The correct group will have Darrin and Christina Carey as the Admins, along with their company, Dayton Capital Partners. They are hard money lenders in the Dayton and Cincinnati area. The group has a monthly meet up at TJ Chumps in Fairborn at 6 p.m. This month it is January 9th. I hope this helps.

Mylinda Kluse