All Forum Posts by: Jeff Filali

@Brian Eastman Thanks.  I don't currently have any full-time employees but was wondering how that would work with holding company.  So, I guess if I ever need employees, they better be part-time or stick with contract labor.  What if the holding company had only 49% or less equity in a business entity, would that business be allowed to have employees without offering the same benefits as the holding company?

Wow... No way.  The only possible good that could come out of that would be the rent would probably always be CA$H!!  :-)

Could you just form a Solo-Member LLC that's a holding company and has the 401K attached and if you ever need to have a business that needs to hire employees make sure it's a separate LLC set up with the holding LLC being the sole-member of the separate LLC? I have a holding company LLC with Solo 401K I just set up Dec 2016 and the holding LLC has multiple business LLC subsidiaries under it. As of now, none of them have any employees, but I could see having to add employees in the future. My understanding is this is complaint because the employees would not work for the holding company.

Call other wholesalers in your area and ask them if you can work with them on a few deals to learn.  Some will be open to it.  Some won't.  If you find a potential deal you may even want to Co-Wholesale with a more experienced person and split your cut to make sure you do it correct and learn from it.  Just be careful, there are some people out there who will burn you as a newbie.

As for building investor list, the best way to do that is get good deals.  I work with a lot of wholesalers and the best way to get my attention is have a great deal. If you have a good deal, its easy to find buyers.  The hardest part is getting good deals. 

Good luck!!

@Daniel Fernandez Guru's are a total waste of money. The BP community will give you more help for FREE then a Guru ever will. I was in a similar position as you last year, had $30K to invest with and looking to get serious into REI, was considered spending $15K on a Guru that also included a Leads program but after careful research I decided to invest the $10K into myself and marketing and the other $20K into my first property. It paid off as I had a great year, ended up purchasing 8 properties, flipped several for good profit and reinvested the same money over and over in more properties, sold a few with seller financing and have 2 that were just purchased all cash the past few weeks.

I agree with @Daniel Johnson there are great deals in Oklahoma if someone is interested in our area.  You can buy in all price ranges depending on location.  I mainly buy in the smaller communities myself because I can pick up properties for under $40K all day long at substantial discounts and my business model is either wholesale to other rehabbers, rehab them myself and flip them either all cash sale or with seller financing, which works well in properties under $70K that are difficult for most people to get a mortgage on.

Okies are more then willing to help others, just ask any of us if you ever need local assistance.  Good luck!!

@Renata McCulloch it's very good in the Tulsa & surrounding areas.  I mainly target the smaller communities myself because there's a lot less competition for deals.  But my Acquisitions guys get some decent ones in the metro as well.  I don't do any rentals myself, I either straight flip or sell with seller financing. 

@Westin Hudnall Not a lot, but a few.  If you want to fill out your Investor Info, I'll forward them to you.  Also, if you get any in El Dorado, I'm looking to buy one there to live in part time this spring while rehabbing it and then sell or rent it out this fall.  My residence is in Oklahoma, but I stay in El Dorado part-time because I coach softball at the College.

OFF-MARKET PROPERTIES AVAILABLE IN TEXAS & OKLAHOMA

Owned by RBI Enterprises, LLC (My Company)

I own these first few myself. Open to lower Cash Offers from other Investors. Prices in my ads are for potential owner occupants if I’m offering Seller Financing. Would take less from another Investor for sure.

Breckenridge, Texas. (89 miles west of Fort Worth Metro)

LARGE 4 BEDROOM / HUGE CORNER LOT / MANY UPDATES!!

*****BRECKENRIDGE, Texas*****

-----PRICED TO SELL-----

$64,900 CASH only

(Valued at $90K+ before oil decline)

MORE DETAILS:

Details: 4 Bedroom/2 Bathroom/1,768 sq ft

Address: 1115 East Lindsey, Breckenridge, TX 76424

Comps: $65K-75K

Est Repairs: Less than $3K (Minimal Cosmetic)

Rent Estimates: $800-$1000

Ad with photos:

Muskogee, Okla. (35 miles southeast of Tulsa Metro)

HANDYMAN/INVESTOR's SPECIAL

*****MUSKOGEE, Okla.*****

-----PRICED TO SELL-----

$29,900 CASH only

MORE INFO:

Details: 2 or 3 Bedroom/1 Bathroom/792 sq ft

Comps: $36K-48K

Est Repairs: $3K-$8K (Cosmetic & Updates depending on rental or flip)

Rent Estimates: $600-700

Ad with photos:

Under Contract by JV Acquisitions, LLC (My Acquisitions Guy’s Company)

Here's several more Wholesale deals that my Acquisitions guy has under contract and is looking to move them.All of them are priced way under value. He has these all priced to sell fast. For More Info on any of these: Call Chris with JV Acquisitions at 254-205-0392

Marshall, Texas.-

DUPLEX Available Wholesale Off-Market

*****MARSHALL, Texas*****

-----PRICED TO SELL-----

$45,000 CASH only

*****RENTAL INCOME ESTIMATES*****

Rent Estimates: $1,800-2,000 ($900-1,000 per unit)

MORE DETAILS:

Details: 4 beds/2 baths/3,600 sq ft

Both Units of Duplex: 2 Bed/1 Bath/1,800 sq ft

ARV Appraisal: $140,000-$155,000

Est Repairs: $30,000

Potential Flip Profit: $60,000+

Priced to SELL: $45,000 CASH only More Info/Photos:

Odessa, Texas.-

HANDYMAN/INVESTOR's SPECIAL

*****ODESSA, Texas*****

-----PRICED TO SELL-----

$50,000 CASH only

MORE INFO:

Details: 3 Bed/1 Bath/1 Car Attached/2,000sq ft

ARV: $110,000+

Est Repairs: $10,000 (As Rental) or $25,000 (As Full Rehab/Flip)

Potential Flip Profit: $35,000+ (46% ROI)

Priced to move: $50,000 CASH only

ZILLOW ARV: ($114K)

More Info/Photos:

Blackwell, Okla.- (I-35 between OKC & Wichita, near Enid & Ponca City)

HANDYMAN/INVESTOR's SPECIAL

*****BLACKWELL, Okla.*****

-----PRICED TO SELL-----

$17,500 CASH only

MORE INFO:

Details: 4 Bed/1 Bath/1,766 sq ft

ARV $72,000

Rehab estimates $15K-25K depending on the extent you want to rehab

Potential Profit: $30K-35k rehabbing & flipping it

More Info/Photos:

Here's some info about that from a Colorado Attorney:

https://www.robinsonandhenry.com/landlords-and-mar...

If I told you I have an investment opportunity where you could get over 40% APR, you'd think I was crazy!! Time to start thinking outside of the box.

I purchased another cheap property for around 40-50% of current value and closed on it on Dec 22nd.  Its in a smaller city and needs some work, but structurally sound and in a good blue collar neighborhood.

I've had it advertised for sale for the past 10 days and had my contractor bid it.  I've already had over 30 calls on it, received a few offers and will be making a decision by the end of this week which direction to go. 

Here's the actual numbers on it and a few examples of different ways that you can think outside of the box and make a lot of money on these cheap deals that people are telling you to stay away from.

You tell me which one you think I will be doing...

Purchase Price including Closing: $13K    Est Repairs needed: $10K    ARV: $45K

Option A: Rehab it and rent it out... 

• Total Cash Invested $25K ($13K PP + $10K Rep + $2K 30/60 day Holding Cost)
• Monthly Rent $550
• Actual CoC ROI = probably between 5-9% annual CoC ROI if you didn't finance it
• You're also a landlord and deal with reserves and other landlord "issues"

Option B: Rehab it and put it on the market a month later

• Total Cash Invested $25K ($13K PP + $10K Rep + $2K 30/60 day Holding Cost)
• Try to sell it for $45K
• End up selling for probably $35K
• Actual CoC ROI = $10K or 40.0% 1-time return

Option C: Rehab it and Sell with Seller Financing

• Total Cash Invested $25K ($13K PP + $10K Rep + $2K 30/60 day Holding Cost)
• Actually Sell it for $45K as follows:
• $5K Down Payment and carry $40K Note at 10.0% APR for 10 Years
• Net Cash Invested $20K ($25K - $5K DP)
• Monthly Payments (Cash Flow) $528.60
• Annual Payments (Cash Flow) $6,343.20
• Total of 120 Payments $63,432.00
• Actual CoC ROI = 21.7% APR for 10 years (Total of Payments - Net Cash Invested / 10 Years / Net Cash Invested)

Option D: Sell it "As Is" with Seller Financing as a "Fixer-Upper"

• Total Cash Invested $13K
• Sell it fast for $25K with Seller Financing
• $5K Down Payment and carry $20K Note at 10.0% APR for 5 Years
• Net Cash Invested $8K ($13K - $5K DP)
• Monthly Payments (Cash-Flow) $424.94
• Annual Payments (Cash Flow) $5,099.29
• Total of 60 Payments $25,496.45
• Actual CoC ROI = 43.7% APR for 5 years (Total of Payments - Net Cash Invested / 10 Years / Net Cash Invested)