All Forum Posts by: Simon Shih

@Francisco Feliz. My wife did her LLC on her own and filled out the paperwork, but she also has a legal background. The only real benefit is a cover your *** legally thing.

I also have incorporated with my wife as partners and we used LegalZoom for that. It was a little outside our realm of our comfort zone. 

My person opinion is to spend a little more on LegalZoom to cover yourself legally. can you do it yourself? Yes, but do you want to chance doing something wrong?

If you plan on wholesaling it, you wouldn't have to buy it at all. Just have it under contact and assign the contract to a flipper.

Why would you go the route to take over payments? My suggestion is to buy it at 225,000 and use your own financing (conventional loan). Your payments would be less and you have the equity of 100,000+. 

I'm not sure what you mean by the agent gets their commission sooner. They get their commission when you sell the house so it's in their best interest to help you sell your house faster an for the most you can get. I'm a fan of staging, but that's for investment properties.  Instead of people having to use their imagination on what the house could look like furnished, you stage it. You can rent furniture pretty cheap or use a staging company. If you were in investor, I would suggest you buy the furniture and have it in storage to stage houses as you want to sell them. But as a one off, it wouldn't be cost effective.

Welcome to BP @Dennis Crecelius. This is definitely the place to be to learn all about REI.

And don't forget. If you aren't embarrassed by your offer, then it's probably too high. 

Real estate agent and broker are pretty much the same. The broker is the one that makes sure that agent is doing everything correctly. You have to be an agent for a minimum of 2 years before becoming broker.

Welcome to BP @Jared M.. I'm also in Houston. Let me know if there's anything I can do to help you.

You should be able to find better deals than this in Houston. I live there and I see deals all the time on the MLS that are better than this. Do you have reserves if anything goes wrong? Where are you getting your ARV from? Do you know the area at all?

Damn @Joe M.. Almost a perfect fit. I am new married at 7 months and about to close on my first deal which I will be flipping over the next few months. Unfortunately I work offshore and will be doing everything remotely.