All Forum Posts by: Rashawn Stevens

@Conor Aylward Thanks for showing interest in my deal. Unfortunately we decided not to pursue this deal due to the neighborhood which the property was located. 

Wholesalers do you guys show your deals to cash buyers before you have them under contract? I would like to know in regards to when to advertise MLS wholesale deals as well as For Sale By Owners. Thanks

Hello BP, I have a smoking hot deal, the property is worth about 100k and I could get this thing for around 30k. I have the comps for the property, pics, video, and tax info in regards to the property. There as also been recent sales activity in this neighborhood in the 100k range so this deal is smoking. The only problem is that this deal is bank owned and I dont have a POF letter from a lender. If you are a lender who would be willing to lend on this deal in the Hampton Roads Virginia area please contact me for more info. Thanks

Hey BP, I'm considering doing a 50/50 Joint Venture deals and would like to know how you guys go about structuring the JV. I was considering using a LLC. All advice is welcomed, thanks!

If your 21 and just starting out taking the real estate class and getting a license is a great step. After that you should find a mentor in your local market who can show you the ropes, don't worry about buying your first property yet because you probably don't even know what a good deal looks like yet if you are new to REI. You should also join your local real estate group. Hopes this helps

Get the license before hand. The knowledge form the course will help you tremendously. Also having a license while you are a investor is a big plus.

@Christopher Phillips Thanks for the advice.

@Tony Nguyen Thanks for the info

Hey BP, I have been reading through some of the forums and I see some mixed opinions on this subject, Here's the question: If you are trying to get a loan from a Hard Money Lender and you don't have enough money for a down payment and your credit isn't the best and you deiced to bring in a partner 50/50 partner who has the money for a down payment giving you guys skin in the game. Would a Hard money lender not approve this loan or look down upon this? 

I've been advised by many mentors to open up a new LLC for each property you have. You want to protect yourself just in case if something happens in that property they can only sue for the value of that house and not sue you personally or your entire company. Also if you raise money for a particular deal your partner would own a certain percentage in only the LLC for the property that you formed for that house, and not of your whole company. This is how it was explained to me by my mentors.