All Forum Posts by: Peyton LaBarbera

Let's say I have 3 fix and flips going on at the same time and I want to make sure each property is protected now of course I have all of the proper insurance I need but what about keeping each property separate from each other?

Now I have two different ideas... the first is to set up each property with its own LLC and the second idea is to set up one LLC and inside this LLC a title-holding land trust for each of the properties this way after each flip I don't have to keep setting up and closing an LLC

Let me know your guy's thoughts on this situation,

Thank you.

3 Votes

Let me know your guy's thoughts on this situation,

Thank you.

0 Votes

I posted this question but found out the answer already

0 Votes

@Account Closed Thank you for taking the time to help explain this to me I very much appreciate it.

Respectfully,

Peyton LaBarbera

1 Vote

Quote from @Account Closed:

Quote from @Peyton LaBarbera:

I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finished

I am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the property

Thank you

I always hit the free listing sites 2 months before it's ready and generally I have it sold without going onto the MLS a month before it's ready. That works out, because the buyer generally has to get approved by a lender and that takes a little time too. On occasion a buyer will hire an agent and expect to get paid, we negotiate that base don how the buyer found my property. When I do use the MLS, I use a service that charges like $700 and I pay the buying agent 2.5%

Keep in mind most people look online for a house, and then when they find one, they contact an agent. It's just the way things are.

I am confused about some of the things you mentioned in your last couple sentences...

When you say "the buyer will hire an agent and expect to get paid" do you mean the buyer's agent expects to get paid?

Next, what do you mean by "we negotiate that based on how the buyer found my property" what are the different ways you could decide that number/percentage?

0 Votes

I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finished

I am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the property

Thank you

0 Votes

Quote from @Bill B.:

I always took it to mean borrowing from friends/family/co-workers. People who don’t do it for a living and would offer you better rates.

Yep I was sort of thinking the same thing but just wasn't sure, definitely just another term for a PML

1 Vote

Quote from @Devin Peterson:

I have only heard and seen this a couple of times. But upon my research, it seems to be some form or derivative of another hard money product if not the same thing just a different name to catch the consumer's eye.

Well it caught my eye so it must be working😂

Thank you

0 Votes

I have been hearing the term "Soft Money" or "Soft Money Lender/Loan" and I was wondering what that means in the flipping world

Thank you to all that reply

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Quote from @Mike Klarman:

Thx Peyton. I learned the hard way about the full costs of a RE deal, I figure I'd share my findings withh those who are trying to figure out capital requirements.

Thats's the goal is to make as little mistakes as I can before buying anything but like anything you are always bound to make a mistake here and there. If I didn't make any small mistakes on my first deal I would be worried that I was part robot, thanks again Mike.

0 Votes

All Forum Posts by: Peyton LaBarbera

Peyton LaBarbera has started 41 posts and replied 140 times.

Post: How do you protect your properties?

Post: How do you protect your properties?

Post: Loan Origination Points Question

Post: When is the best time to list a fix and flip during the remodeling process?

Post: When is the best time to list a fix and flip during the remodeling process?

Post: When is the best time to list a fix and flip during the remodeling process?

Post: What is Soft Money?

Post: What is Soft Money?

Post: What is Soft Money?

Post: What are all of my options for financing a fix and flip project?