All Forum Posts by: Samuel Everett

"Mr. Anderson, why do you persist!?!", Agent Smith, Matrix Revolutions, 2003.
Bryan - I'm a recently retired US Army veteran of 20yrs that has, over the last 16yrs, bought, sold, and traded for profit a little bit of everything (jewelry to foreign currency exchange to vehicles to real estate) oth stateside and overseas by pooling the resources of a unique network of Soldiers, DOD civilians, and retirees that I have invested with and for during these last 16yrs with an acceptable rate of success. We don't use loans. It is our money from deployments, bonuses, Thrift Saving Plan, IRAs, savings accounts, etc. Since retirement I'm able to pursue ventures full-time so I am 'Putting the band back together' sort to speak with what I'm working on now. I hope that answers your questions and provides you with a little more insight. I try to make it a point not to get too indepth with my dealings. I hope you can understand that.
Steve,
Thanks for the advice. I was beginning to draw that same conclusion myself. I have registered agency right now there and just settled on which forwarding agent I want to use. Thank you again Steve and I want to thank everyone else for taking time out of your schedules and caring enough to address my question.

(This is my last response to this post. A response to this post is appreciated but not necessary.)

Bryan,
I apologize. I didn't mean to cause so much confusion with my original question. Due to the type of business I do, I do not need to file a certificate of existence with the state of Georgia with the Wyoming LLC and I'm exempt from most business related taxes in most states. Reference the faq in the link I sent you on state taxes. I don't mean to talk in riddles but I don't use loans I use cash for downpayments on multifamily and I use the manage the manager approach to property management...too much to explain in this forum but thank you for your comments.
Realtyman,
You are correct, membership with the BBB doesn't hold the credibility it once had. I still use it and many other methods (references, word of mouth, Chamber of Commerce, etc) as a tool to assess potential business. I didn't mention in my original post for time sake, but I have done business with this company in the past and I know them to be very reputable. Their services have given some of my people a jumpstart on their endeavors. They actually offer the solution to my problem but I believe I can also find the same solution cheaper through networking with like-minded individuals. Since 90% of my business transactions are conducted online, it only makes good financial sense to be virtual until brick & mortar is feasible. There is a method to my madness. Now...is there anybody out there that can answer my question?

Hey Bryan!
http://www.corporationstoday.com/index.htmlThis link can explain it alot better than I can. They are also members of the BetterBusinessBureau which is a must for me. Do you have any viable suggestions for me on my original post?

Hello All!
I live in Georgia. I recently purchased a 3 yr old Wyoming LLC, for obvious reasons. I am researching some strategic and cost effective ways
(virtual office/ phone, mail forwarding, etc) to create a virtual HQ presence in Wyoming while tying my Georgia location in as a satellite office. Any suggestions would be greatly appreciated.

All,
Hope everyone had a great Thanksgiving. Follow up for the curious: I found an aggressive private investor to fund the closing cost on the deal ($10,000) With cash in hand, I was able to negotiate $10k off the asking price and close in 5 days. I will refi/ cash out next week and pay him off, the familes have homes while I work on their credit "win, win, win, win". Thanks for everybody's input, positive and negative. I am back again because I am looking for a realestate business plan. I KNOW ABOUT THE SITES THAT HELP YOU WRITE THEM YOURSELF!! guess I'm looking one already done that I can revise to suit my needs. Any takers? Hope to hear from you guys soon. "Keep Investing."

Thanks for the link DTS, I will check it out indepth. Jon, this isn't my main investment vehicle where I pay or I don't play. I consider this a service to my community which is the profit. This deal isn't financially (profit)sound, I was just going out on a limb for somebody other than myself before the holidays and found myself unable to produce. As always, thanks to everyone for entertaining my situation and offering great sound advice. I wish you all a blessed holiday season and "Keep investing"

MikeOH,

Thanks for your reply. I know the cashflow isn't a pretty picture, but I feel it is the right thing to do. These are families in my workshop. I mentioned in the first mail that I work with families with "challenges" impeding them from home ownership. I get them the house they always wanted for the rent they' ve been paying. Majority are tired of being professional tenants. I teach them about their credit reports, disputes, and help them settle repos with lien holders and setup payment plans to satisfy the amounts. Once I get them straight (some longer than others), With the additional cash they now have from paying off bills, and better credit scores, I get them qual'd on a mortgage to purchase the property from me for a modest profit. Corny, but it works out. Back to my dilemma: word of mouth has bought me more clients than I can handle. Due to family emergency expenses, I cannot take care of my last two family clients for the year. There is a solution for every problem. I am looking for one. As always I am open for suggestions and hopefully solutions.

No need for apology. I understand. If you are interested in helping us on this deal, it can be done with you in the 1st by you funding both deal. Instead of their set terms, I could negotiate a better price with your backing. Just different way to solve the same problem. Thank you for hearing me out.

Thanks for your responses,

The 1st is $139,000, $6,950 total downpayment ($2,000 earnest), ARV $170,000. The second is $42,000 w/ $3,000 dp ($1,000 earnest), ARV $71,000. I am looking to borrow $10,000 to do these deals. Once again thanks for your assistance.

All,
Thanks for everyones quick response. To the bottomline: There are 2 properties. The 1st is $139,000, $6,950 total downpayment ($2,000 earnest). My client will pay $1,000 rent. The second is $42,000 w/ $3,000 dp ($1,000 earnest). This client pays $650 in rent. Repairs for both are minimal. I do it with the families. I am looking to finance $9,950. streetsmart properties is the wholesaler I deal with. I immediately refi out with them after closing. I am trying to move fast as I don't want to lose these properties the families have picked. Exit strategy: I personally work with my clients to improve their credit, settle and outstanding balances and ultimately get them qualified to purchase these homes. Open to suggestions, please advice.