All Forum Posts by: Todd Sullivan

@Michael Liggett thank you!

@Sultan Ali thanks for your response.

Question:

In the scenario of equity partnerships, one person finds the deal and does the work while the other partner is the finances, my question is avoiding capital gains. If you renovate the house and sell it you, you incur capital gains, but if you hold the property for 2 years you avoid those taxes.

Is there a world where the financial partner waits for their cut after the 2 years to get more money in the end, or do they always want out immediately? Fo example renovate the property, put a Tennant in place for 2 years or so, then sell the property and split the profits among the partners.

Please give me insight into this scenario. Is this an option?

Thanks everyone for your input!  I checked the tax billing address, which is the same as the house, and did a deep dive on the internet and found another address.  So, I sent letters to both addresses and got a response yesterday from the home owner who is interested in selling!  Great success so far!

Hello Everyone!

After going through the initial attempt of finding the taxes billing address for an abandoned property and mailing the owner, what are the next best steps if your letter gets returned with no forwarding address, etc. Simply, how do you find the owner???

@Shulem Deen

I would say when it comes to comps and realtors, make sure you find one that is experienced working with investors. The comps that they pull should be reflective of ARV. You can see figure that out by looking at the pics and in many cases, it will list when the last time a renovation was done in the mls listing.

If you have any questions about this, just reach out, I’m happy to help.

As for contractors going with you to different houses to give prices, well that’s what finding rock stars is all about. If they truly are dedicated to you and their craft, then they will go the mile to get the work. Don’t get me wrong, that isn’t an easy thing to find these days. Contractors can be a real pain in the butt to find solid ones and you WILL go through several to find the few that work out. Always have 2-3 in each trade in your Rolodex. Again, I’ve gone through a bunch in the Hudson Valley (since I live there) and have a good line on some amazing people if you’d like their contact info.

Best of luck to you!

Hey all!

Given the weird spot the market is in, what do you see as being the best strategies for investing right now and the near future?

We just sold our live in flip a couple months ago and have been working on our new personal house, but now that the projects are nearing a close with that, we want to make the rest of our money keep working for us.

I’m thinking of doing some smaller flips to build up some cash for a bigger purchase. Start BRRRRing? My greatest issue is living 1 hour north of NYC, so nothing is cheap really.

Any help is greatly appreciated.

Hello all!

I’m considering getting my license in Florida and currently have a license in NY. How many of you have licenses in different states?

Hello Anthony!

Good for you to take the big step into becoming a real estate salesperson!  I had great luck with www.realestateu.com.  I know they offer classes for California.  I believe it's $99 for the class, so that's really not bad price wise to start a career or even side hustle.  Best of luck to you!

Hello Robert!

I get email lists by zip code and mass email people CMA's or offers through my brokerage, Premier Agent with Zillow, OpCity with Realtor, start a professional page on Facebook and advertise through that. Also, if you aren't afraid of getting in front of a camera, do some short videos and post them. Google seo likes videos. Hope some of that helps you!