All Forum Posts by: Sam Sjoberg

 Hunter,

Thank you! I will message you for Kristi's contact info.

Hey BP,

Recently closed on my first investment property at the end of March! I'm looking for someone who can help me with transferring title of the property to a LLC. I closed on the property and hold title in my name as an individual.

The property is located in Montgomery, AL. My partners and I have already created an Alabama LLC and opened a business bank account.

Any recommendations on who I could speak to or other general advice would be great.

Thanks,

Sam

Michael - Would you be willing to share your operating agreement? I've formed an entity with two partners and we are hammering out ours using some online templates/examples. Would be interested to see a working document from a recently formed LLC that is looking to do exactly what we are.

Thanks for sharing @Charles A.

Definitely feels a bit pie in the sky sometimes as the outrageously fortunate deals/instances of investing are the ones shared most. Good to see patience and perseverance rewarded in your story.

Heard about this on podcast #237. Looking forward to the event.

@Cole Hagen take the match, it is guaranteed. After you build the balance of your 401k you can borrow against it to finance a real estate purchase down the line. In listening to recent BP podcast guests it may be beneficial to be on the sidelines at the moment anyway. Always good to have "dry power" aka cash when market cycles turn. My 2 cents. Good luck!

Congrats and thanks for posting. Inspirational for a newbie looking to do their first deal!

@Mindy Jensen not sure how that got selected! I work in RE but within a portfolio management role for a large developer. Sorry if that was misleading!

Appreciate the advice from everyone, I will definitely be making a call to the listing agent to get some more detail.

Thanks all!

@Chris Martin can you elaborate on what "non-conforming" means?

Also if I were buying the deal cash would "non-conforming" status on the condo development matter?

Thanks!

Hey BP,

So I'm looking to do my first deal and I (think) I have settled on a market that looks like it will be solid for buy & hold cash flow investing. The development I'm looking at has what appears to be identical condo units, same 2/2, same sf, same year built basically right next to one another however the asking price varies by $20k from one listing to the next. The cheaper listing doesn't have any pictures or description (immediate red flag).

My question here is how would you guys approach doing your due diligence to figure out what is making up the large disparity in price? My initial thoughts without talking to either listing agent are things like:

rehabbed recently vs not

fire damage/other unit damage

backed taxes?

Thanks in advance for your input. Treading carefully as I was once told if it looks too good to be true well then it probably is.