All Forum Posts by: Toby Real

@nedcarey Ned Carey ok great, that what I wanted to know. Thank you… I’m sure I’ll be back with more questions soon.

@curtisdavis   Curt Davis 

Yes, I’m looking to buy and flip houses ( in California). I have some of my own cash to put down ( or I guess skin in the game money) So I’m looking for a hard money lender. From what I heard, they are looking to see your portfolio ( besides the numbers of the deal) So what I’m tryin to find out, … in general …how do you build a portfolio after you buy and flip houses , where are the properties that you had listed as a portfolio ?

I’m a newbie here and eager to get started in real estate…

I’m self employed and looking to start flipping houses.  I know that the biggest change will be to get financed, without a W2 ( Even though I now there are programs for self-employed people but for know I’m might have to consider working with a hard money lender. 

My Question is, how do you build a portfolio?  Where is your portfolio even visible or where can people look it up, or is that just a term 

and you have to put the actually list together yourself ? 

 Thank's guys for the replies and sorry for the late replay, I thought  this might not be the right topic for the thread since I haven't seen any feedback my post at first

@Katie makes sense to bring a lawyer in to the equation to work out contracts.

I just thought this would be a very common thing to acquire properties with multiply investors instead of one person if the capital is not there. 

@Alina  done.  .... and ongoing.  Thank you for the link will check it out.

Since I'm keen about a multiply family property and the fact is that I don't have the capital for that in Los Angles where I live and want to start, my first step is to build an investment group with my businesses partners, I was just not to sure if I have to register one together with other investors or if I register it myself first and then bring other investors on board. In the meanwhile I have found out, that I can ad investors to an existing LLC by making them Managers, Owners or limited partners.

Katie Lepore 

Katie LeporeKatie Lepore

I’m an entrepreneur living in Hawthrone, California ( Los Angeles County) I have been listening to the Bigger Pockets Potcast for a while now.

I’m finally ready to slowly get into real estate. My challenges : Besides living in California which probably has one of the highest Real Estate Prices in the Country, I’m an entrepreneur with some small businesses… and as most entrepreneurs, I’m trying to save the most taxes as possible by keeping the profits on the books low. (Which is pretty simple if you have a lifestyle business and your life is your business and most expenses are tax deductibles) But of cause this creates a problem to qualify for conventional loans even when you have the down payment.

My credit score is mostly good / excellent .

Since I’m looking to invest in multiply family properties for rent, my solution is to build an investment group ( if that’s the right term for it) and come up with a much higher down payment or even the entire amount by partnering with investors.

My questions are :

• Do I register an LLC first ( strictly for that purpose) and make Investors partners for each property or do I form an LLC when I have Investors together?
• Are there articles / links to steps on where to hold the money for / contracts to make the down payment available etc.

I’m assuming at the point of purchase the steps will be the same than other purchases made by a sole entity or company !?

Thanks in advance in your interest or tips for this post.