All Forum Posts by: Ramsin Jacob

@Katie L. Thanks for the reply. You got it backwards though. First, create the LLC in NV. Then that NV LLC, becomes the owner of the CA LLC. It's not about fear of being sued. It's about protecting what is mind from anyone who may choose to screw me over. It's also not having to do with operating business incorrectly on my end. People in this world will develop a mindset to go after you when you are successful from a jealousy and envious standpoint. People frame others all the time. I run multiple businesses in the clothing industry and I am involved in the music industry, my endeavors and business only continue to elevate. Jealously and envy is a characteristic many have. It's for my protection, away from these type of people if I ever happen to run into them, not saying that's happening now, but I have already experienced it.

Watch this video, towards the middle of the segment, he explains what I am mentioned and he also says it is something a lot of people already do: https://www.youtube.com/watch?v=XdSp5GXbiE4&t=1775...

If this setup is actually true and legal, I don't see why not everyone set up this way. Ok $800 extra a year for a NV LLC, not a big deal.

@Jenifer Levini Since you are an attorney, I am curious to know the truth about something I learned online. I gathered that for Real Estate, I reside in CA, but if I were to create my LLC in Nevada first, then register the same name as an LLC in CA and the NV LLC would be the owner, then this would protect my assets from any creditor if there was a lawsuit of some sort presented against me. Is this true? Hope it made sense. Thanks.

Yes.  Meaning, locating the properties that have a quick flip turnaround, 2-3 months is the average. 

If you are interested in any of these type of properties, send me an email and I can assist with further answers to your questions.  

I work with dozens of investors, I specialize in locating off-market fixers for my clients with great returns.  Currently have 2 properties in the rehab stage, both in San Jose.  Im in the process of locking up a property for a client in Oakland Hills.  Looking forward to hear from you, thanks. 

Damn.  Im getting deals for my clients in the Bay Area with few hundred k's in return.  Properties that have at least $500k spreads on them.  Love California. 

I've had my eye on Baltimore.  Brooklyn is definitely not the place.   

If you are looking for rentals, the Bay Area is the last choice.  Is has the lowest % of annual return.  

Vegas is the place for rentals.  Lots of expansion happening.  

Seattle would be a better option for rentals than SJ as well. 

I work with dozens of investors here in the San Jose, name of the game is IN N OUT! 

Hey Jared, 

Im a Realtor here in the Bay Area, working with dozens of investors. I specialize in locating the off-market properties that no one is aware of and presenting them to my client with no competition. I've spent 9 years in So Cal as well, know all the areas. If you want to connect, send me a email and I can answer any questions you may have.

Ramsin.Jacob at eXpRealty.com

Thanks!

Skimmed through this, I would agree with the advice from @Tom Gimer.  You should seek a mentor before you begin to do a actual deal.  Each state is very different.  You could find yourself in serious legal trouble if you make a wrong move.  I do not know how it is in Wisconsin.  Out here in California, Bay Area, I do a lot of off-market deals, I come across a lot of wholesalers.  Lots of agents are not yet up to speed on this.  Currently have a deal going on now where the seller's agent did not know the suppose buyer was going to assign the contract.  Once she found out, she terminated the contract.  The wholesaler did not disclose this to the seller.  To answer one of your question, if you are going to assign the contract, you MUST put: "youname and/or assignee" otherwise, you're not being completely transparent with the sellers, thus eventually will tarnish your business relationship once the truth is exposed.  I have seen it happen first hand many times.  Not from myself doing the wholesaling, but from wholesalers contacting me about properties.  I ask for the contract they supposedly have, and notice these errors from them all the time.  People see the money to be made and want to dive right in.  It's a specialized knowledge and skill, take the time to actually learn about it.