All Forum Posts by: Becky Watkins

So we thought of a name [adjective] Properties. Then we met with our CPA, who suggested we choose something like We Buy Houses, etc. They all sounded more like taglines, but I understand what she was saying about it saying what you do. I want it to appeal to both sellers and buyers, though. While rehabbers/investors may understand my marketing is towards the sellers, I don't want them to be left out. Especially when the buyers is just as or more important than sellers, because as a wholesaler, I don't want a property to be stuck on my hands when I'm not ready to hold yet. Also, I feel the adjective I chose has a warmer feeling but my CPA pointed out that distressed sellers won't think the same way I do.

Then I was wondering about my use of the word "properties" when I'm not holding any. Although I don't want to draw attention to the fact that I'm a wholesaler.

Also she asked if we were planning on keeping the name when we switch to buy & hold. I wasn't, because I figured it would be a separate entity, and then we'd choose a separate name. She said we wouldn't want the name that people would by then associate with buy & sell. It could just be a matter of changing the suffix. (trade names X Wholesales vs X Holdings all under the parent X Group). I didn't think about that before, but I suppose it is good to keep X for networking and identity purposes, whereas Y Holdings would mean starting all over. The word we chose was with just wholesaling in mind. It would work for other strategies, it just wasn't in our mind when brainstorming.

I realize there are a wide variety of opinions on this, and I feel like I'm spending a lot of time on such a small thing. I just want as much input as possible (my husband is contacting other sources) and if it's something I'm sticking with in the long run I want to make sure I get it right, and before I order business cards. Which makes it hard not to rush through this, because I want to get my cards and start networking already.

Thanks for any help!

Lady, were you able to deduct the course fee?

Also, how beneficial was the course? Thank you.

My first thought when I hear laminate is tacky 80's decor, but there is good laminate out there nowadays. I particularly like the ones that try to look like wood instead of tile, but there a lot of nice options than the classic ugly laminate many people have come to associate with kitchen laminate.

You can point out to potential buyers/tenants that tile is really hard to clean (the grout stains grey over time).

So I realize I've posted on here a bit without formally introducing myself. >.< I first heard of BP a couple years ago, when a blog post was shared with me. When googling certain RE-related topics, I kept coming across BP. I didn't notice it at first, but the name started to become familiar to me so I figured I might as well sign up. I'm really impressed by what i've discovered about the site. It has a lot of features and so far it seems the people here are great. I've already noticed some disagreements (as is expected with humanity), but I'm pleased to find they are civil unlike your average online debate. I have been reading through the knowledgebase and can't get enough of this site.

My name is Becky and I am brand new to real estate (aside from working on a few accounts as an employee of an accounting firm). My husband is an apartment manager so he knows all about landlording, and we hope to be on the other end of it someday (actually owning the building and/or property management company).

I'm from southern California, on the cusp of Los Angeles and Orange counties, so I'm looking to network and build wealth in both these areas.

My short-term goals are to wholesale while my long-term goal is to create enough passive income to not have to worry about working, and have more time to focusing on family, charity, and other endeavors. I enjoy working, but I want more freedom in my life. I am willing to put in the double-time now (as in wholesaling in addition to my 50hr/wk "9-5" job) in order to have more free time later. I enjoy learning and trying new things, so I'm excited about this, albeit a little nervous!

I should mention I already plan on finding out their expertise in real estate investing and local law, but my concern is how to decide which questions/topic belong in an initial consultation.

Sorry if I am posting this in the wrong forum - I couldn't figure out which would be best. Does any one have any tips or direction on the right kind of questions to ask in a 30min consultation while searching for the CPA and attorney that fits you best? Before you answer "it varies per person" or "it depends on your situation," please just let me know if there are any general guidelines. Since the time is limited, I don't want to waste my time or their's. I want to ask well-directed questions to make the most of the limited time, and other questions that may be more specific or detailed-oriented for later consultations after I decided to make them my CPA/attorney.

I have one call with a CPA today and will be setting up with more CPA's and also some attorneys soon, so any help would be greatly appreciated, thanks!

I was told and read here to pass out business cards everywhere and not leave home without them, especially as a beginner, to get your name out there.

My question is where exactly can I pass these out? As a beginner, I still have a day job and putting aside the fact that I don't really want to enlighten my employer/coworkers to this new venture just yet, there are so many days before I run out of people to pass them out to. I know a lot of places have solicitation rules, and restrictions on passing out literature of any sort on their property.

Offline my community seems pretty small, and I'd rather NOT do business with friends, because it's human nature to involve emotions and expect discounts/handouts and such (I've seen this especially with artists - people abuse their talented friend's good deeds).

Any suggestions? Or should business cards just be something you carry with you but not market to heavily with out of context?

I do think college is overrated, and that it's overrated. The problem lies in that there is so much talk/pressure in going to college that no one thinks about what's next until they graduate. Kids are so encouraged to go to college that they just do it without a plan. Yes, there are some careers that you definitely need a degree, but others you don't really. Maybe it's harder to be competitive, but if they spend those four years as a ____clerk at a company and work their way up, they'll save the student loan debt and already have the job experience that is so very important. In life, it's often more about who you know than what you know.

Someone told me the story about how he was about to graduate with a degree in journalism and a professional came in to give a career talk to his class. Their advice? "You should have skipped college, got a job making coffee at the paper, and worked your way up." I know way to many people who have a degree and aren't using it. I have an accounting job that I enjoy and do not have an accounting degree. I had "some college" and "45WPM" on my resume but no office experience, but they took me in and I learned on the job.

Jake, when you say that their practice is real estate heavy, is that the same as being real estate investor friendly? Do they work with startups? I'm just starting out, and need help with the corporation setup (I have experience in this but don't want to miss anything by doing it myself.). We are looking for someone that is an investor (in anything, but knowledgeable about real estate investment) themselves, preferably. Thanks!

I have quite a newbie question: when someone says "we buys houses cash" does it really mean actual, physical bills? If so, why would that be preferable to a check?

Also, how is the wholesaling method ("we close quickly") different from the traditional method (which I'm not that familiar with). It still has to go through escrow, right? What is quicker about wholesaling that would make a person accept 70-80% of FMV to get it over with?