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All Forum Posts by: Nick Mauldin

Nick Mauldin has started 7 posts and replied 29 times.

Post: Steps to get started in Wholesaling

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6
Jamier Hughes have you listened to last weeks podcast with Elliot Smith? He started in wholesaling and you might learn a good deal from the podcast. Just a suggestion.
James Kojo thank you for the information. I’ll keep you guys posted as to what happens.

@Jason Vandermark are those items that someone will willingly turnover to just anyone?  I know that I’ll need to confirm rent rolls and validate each lease.  I did the taxes which I believe are low.  County tax assessor website says they are only 2500 on an almost 1M property.  Thank you for the help sir.

Hello,

How do I go about asking for the actual numbers on the property (Expenses and such)?  When it comes to looking at large properties?  I'm currently looking at a 40 unit complex that I believe is a deal but I need to see the actual numbers before I can really tell if it's a good deal.  Obviously I'm a newbie but if I can find a good deal I hope to find a way to fund that deal.  Thanks again for the help and have a great day!!!

Not an expert but I know you can serve them with a 3 day pay or quit notice. I would call a lawyer to be honest. Might cost you 50 dollars but it’s better then violating the law.

Post: CAP rates like I’m five

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6

@Justin Brown Thank you for the response and your time. I really like your example it gives me something to sink my teeth into. I also have a better understanding of the different strategies that I may be interested in. Another question then: If I'm only worried about cash flow, does the CAP rate really matter to me? The second example you provided is only a CAP rate of 8 but it brings in an extra 16K a year. In my opinion I'm much more interested in that. I can (hopefully) find ways to make the product more valuable over time. Thanks again for your time!!!

Post: CAP rates like I’m five

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6

@Jeff Greenberg Thank you so much for your time. While I currently live overseas, I will be looking to move back to the Pacific Northwest here shortly. Most of the CAP rates I'm seeing are at 6. I'm just trying to get a handle on how to use the CAP rate to value a property. Again thank you for your time.

Post: CAP rates like I’m five

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6

@Steve Vaughan why would you be out at 5.5 to 6.5 CAP rate? Thanks for the response and giving me some of your time.

Post: CAP rates like I’m five

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6

@Josh C. I'm sorry if the post was vague. I meant explain CAP rates to me like I'm 5. It works on Reddit, thought it might work here as well. Thank you for the response.

Post: How to protect paid off asset?

Nick MauldinPosted
  • Portland, OR
  • Posts 29
  • Votes 6
First off I’m not a lawyer, but I have some knowledge of an LLC. Essentially the LLC is it’s own entity. However, there are rules about the LLC. For example you’ll need to keep everything separated. New checking accounts, new lease contracts, new everything. In the event you get sued, you’ll want to make the court know that the LLC is it’s own entity, this only happens if you separated everything from your personal assets. Now. It’s my opinion that free and clear property means you could lose it. If you’re comfortable I’d use the equity to further my investments. Also I would get a good property lawyer. Also you need to talk to a lawyer who specializes in LLCs and small business set up. I hope all this helps. LLC laws are different for each state so make sure you do the research.