All Forum Posts by: Tom Sahar

Hello BP.

As part of me and my partner plan to establish a Joint Venture with an investor, we are moving forward with purchase of a property in JV model.
We would appreciate clarification on the following points:

1. Questions Regarding Property Registration Restrictions in a Joint Venture Model:

• Are there any restrictions when attempting to change the property registration with the county (through the title company) if the property has an active Hard Money Loan or DSCR Loan?
• We plan to register an additional LLC (of the investor) that will hold 50% of the property. In return he will place the down payment, closing costs and IO payments during the HML.
• If the property is initially purchased by one LLC (Ours) and there is an active loan on the property, is it possible to register half of the property under the name of the investor's LLC as part of our model?

2. Registration and Financial Considerations for the Second Company:

• Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?
• While the second LLC does not yet have an EIN, can we temporarily operate using only the bank account of the first LLC (which also holds the property)? How could this impact tax matters for both companies and the Joint Venture as a whole?

We would greatly appreciate your guidance regarding any requirements, limitations, or recommended procedures in this context.

We started using TurboTenant. It's free and easy to use. Heard about Hamlane platform as well. Hope it helps. Good luck.

 Hey Michael, nice to connect. Sounds like you had a decent deal, and if it's your residence you surly can use it for your personal use with refi etc. Thanks for replying!

 Hi Samuel, thanks for the reference. I'll check him out. Appreciate it.

Hi Regina, Thanks for responding. 
I'll contact you soon :)

Hello everyone,

I hope this message finds you well. My name is Tom, and I am an analyst and certified appraiser with TYA Group.
I am currently looking to establish connections with wholesalers who operate in Cleveland and its suburban areas.

My primary interest is in single-family homes and duplexes. I am eager to build long-term, mutually beneficial relationships with wholesalers who can provide quality properties that meet our criteria.

If you are a wholesaler in the Cleveland area or its suburbs, or if you have any recommendations, I would love to hear from you.
Please feel free to reach out to me via private message or respond to this thread with your contact information and a brief overview of your offerings.

Thank you for your time, and I look forward to the opportunity to collaborate with some of the fantastic wholesalers in our community.

Best regards,

Tom.

Hi everyone!

Started my journey a year ago started doing some wholesaling and almost a quarter ago "moved" to Cleveland, OH to acquire the first property as an investor. During the last months I'm having some thoughts I wanted to share.
Found it kinda challenging to find a deals on/off the market that really makes sense and make the numbers works out.

Wondering if there's people out here feeling the same in other markets as well. 
I would like to get some ideas how to expand the connections here with amazing agents, wholesalers and house sellers in more creative way.
I believe in a good relationship when it comes to business ;)

Thanks!