All Forum Posts by: Abou C.

Manolo D. In terms of LLc or Corp, beginning once we lock down 8 units for 2016 and moving forward, I heard many times that LLc is easier but those were not accountant or lawyers but I think once I speak to him when we meet I will put that out there, someone has to take charge. Also yes I agree jv should have time limited 3-5 years are not bad, accomplish a goal then form another one or partner with other where interest aline. 51/49 split of profit and everything else. Write how partners and funds will be maintained and everything else. I want everything on paper so there is no grey areas, also want to leave the table so everyone is also happy moving forward!.

Manolo D. You bring up valid and great points that I will discuss with him for sure!. But friendship aside and speak about business. 50/50 would give some problems can't all be Chiefs some one has to be Indians at times. When it comes to get registered will speak to lawyer, accountant and put everything in writing And etc. so we both protect ourselves and interests, don't want to have a multi million dollar empire and fight over money not good!.

@Ethan Vegas great found one in providence, Rhode Island. Friday will drive down and see what is needed of me and cost base.  Going to aim to get properties for 4-12+ unit in the markets I am interested in.  Now in terms of that list,  How do I go contacting them? calling to mailing?. I personally don't mine either, but would anyone of them get pissed that I found their info and contacted? and if they pick up what should I start with?. Sorry for all these questions this late, just fired up!. 

@Ethan Vegas I agree, as a business man I believe in both party benefiting!. So should I use "Chicago Title" for Rhode Island? or find me in my area  by sitting down with them?. And if I decide to use them for my deals moving forward what is the fee structure for title insurance?, is it different from company to company?. Once I get a national company I will get on this ASAP!. Also In terms of finding absentee owners what other tools use I use for that?.. Currently have 200 list of addresses I drove in my area of properties I saw that I am interested in sending them a letter in the new year!.  by 2018 I don't know how I will do it, but I am going to have 30 units+ with my business partner come rain or shine, cash flowing to the bank! in five years 100 units. I think I am crazy!. 

@Ethan Vegas looking for two sets of four units for 2016, sounds like a great idea along side sending yellow letters to owners.  If I can figure out to get that type of information from a title company I can narrow down my list and go hunting for the owners. Even if they do not want to sell right away, I would like to get to know them build some type of relationships and let them know when ever they plan on selling to give me a call right away.  I am also looking for any type of creative financing I can get into or partnering building as well to scale my company!

@Ethan Vegas great idea even though I am not ready for a 10+ unit yet but I will do this and start the process. But I will use it for 4 units in a area I am looking to invest in. Question in terms of title company, stupid question can it be any title company and what is the fee structure to get information like that?. 

@Jonathan Loynaz Hello

 If not too much can you explain the process and tools you have used in your market to find these owners?.  In the new year I want to start this off. 

@Brad M.  So going to my local jerk office and asking to see evictions and getting those contact information and send them a letter?. I going research some more, and also plan on sending out yellow letters in the new year not now since everyone is whining down. 

Hello

What tactics or solutions have you used to find "tried, retiring investors". I understand using OPM and bank financing but I would like to become creative enough to solve their problems and scaling my company to 30+ unit by 2018 from 8 unit in 2016 that I am on track to acquire!.  

Is if direct mailing or networking and hitting the pavement, but which pavement and how do I know they are "tired or retiring soon or plan to retire"

@Vincent Crane I agree, that is why I must acquire the 8 unit in 2016 and more before asking anyone for $.  I want to understand as much as I personally can and find undervalued deals to accomplish this goal.  I believe there is a lot of money out there and a lot to be made, so have to go get it. @Bill Gulley Ha great story, I am sure there is a lot of tired or investors who no longer want to deal with their properties and I want to seek them out. The next 5 years for me is going to be crazy to say the lest, so far focus on my first 8 unit in 2016 and using that as my foundation moving forward. Refinance then possible and roll that into another deal. Also spoke to 10 friends of mine who are financially in a good portion and my 2017/18 goal is when I graduate is to raise $100k+ from 5-10 people max to grab a undervalued value add 10-12 unit on the northeast.