All Forum Posts by: Trevor DeSimone

Quote from @Ryan Emrich:

I am an investor and have wholesaled a few deals in Massachusetts. My only piece of advice would be to run your own numbers and dont rely on the wholesaler's ARV/pro forma figures.

Wholesalers are a great way to find off-market deals with some value-add opportunity. I recommend checking in the real estate FB groups for wholesale leads as well. We actually just posted about a 4-unit deal we have in Lowell right now.

Feel free to shoot me a DM if you have any questions!

 Hey Ryan, which FB groups are you posting in? Is the 4 plex in Lowell an acquisition of yours, or a contract you're looking to assign? Thanks!

Quote from @Jason Velie:

@Joshua Amezcua

Absolutely! In fact, knowing what I know now, I'm confident that I could easily do it in half the time or less. I am finding more deals (and at greater discounts) now than ever before! Everything I buy is off-market. Nothing in my area is worth looking at if it's on the MLS. Everyone that whines about having no deals simply isn't doing enough marketing.

Are you doing your own marketing to find off market deals? Direct to seller via cold calling or mailers, etc; Or are you finding your off market deals through other means like Wholesalers? 

Planning on attending BP Con as well, Might chat you up!

Hey Thomas, 

Fellow investor from Southern New Hampshire; if you're open to remote relationship with your CPA 

@Chris McCormack has done pretty well by me. 

Otherwise, there's a vast number of CPAs here on bigger pockets and I don't think you'll have an issue finding someone through this network.

Quote from @Nicholas Acosta:

Thanks for the help @John O'Leary ! The family member is not on the LLC. So it sounds like I can receive a gift/donation from my family member to my LLC and then move forward just fine right? Everyone says to not mix up personal and LLC funds so I was concerned about transferring funds from my personal account to the LLC account... Thank you

This is true you don't want to comingle personal funds and financial assets of your corporation (Your LLC). The reason you don't want to comingle funds is because an LLC protects your personal assets in the event your company was to come against litigation. The individual suing your company can only go after company assets if structured as an LLC, however if you comingle funds inappropriately, the opposite party can argue those funds are associated with the business, even if they came from a personal account.

However you can "fund" your business with deposits from a personal account if you business needs funding. The money has to come from somewhere. Just be sure to have your CPA track these transactions, or track them yourself and be weary about moving funds back and forth between personal and business accounts often. 

Quote from @Austin Remus:

Hello, I am looking to start renting out a room in my house and would love to find travel nurses to occupy it. I have been exploring various websites for travel nurses, such as travelnursehousing.com and furnishedfinder.com. I wanted to ask the community if anyone knows or has experience with any travel nurse websites that they loved and would recommend. Any information would be greatly appreciated.

 Travel nurse and fellow real estate investor here. Furnished finder is well known in the community. Besides Airbnb and VRBO, you're missing out on your biggest free form of marketing; Which is Facebook and Facebook Marketplace. There's groups of travel nurses exclusively on Facebook where you can post your listing, along with posting generally on FBMP. Few other potential concepts you'd want to keep in mind. Travel nurses get a weekly tax exempt stipend from their contract, these rates are based on GSA per diem rates. You can research what stipend nurses are getting based on your area's zip code here https://www.gsa.gov/travel/plan-book/per-diem-rates and then base your pricing on this allowance along with other comparative properties. Travel nurses still make a good income but declining rates will affect what travel nurses are able to afford currently and in the future. 

Seeking a $30,000-$35,000 loan to fund additional rehab of a duplex owned in Milwaukee, WI. Loan will be secured by a promissory note with a 4 month term at 8% Interest. Existing track record in this market and additional collateral. Property is intended to be a BRRR. Contractor is in place and materials selected. Great passive investment, if you're interested we should chat!

I have a potential partner looking to convert a motel in studio apartments. Question being, is there ANY LEGAL REQUIREMENT or Minimum square footage or area needed in order to rent that studio to section 8? Does that living space, exclude or include the bathroom? 

I've done private money lending in the past with both contracts and promissory notes. If you're a private money lender how do you protect yourself while lending? What legal documentation do you use? How do you vet your lendee prior to transactions? Anything important you shouldn't leave out? 

I have a potential partner looking to convert a motel in studio apartments. Question being, is there ANY LEGAL REQUIREMENT or Minimum square footage or area needed in order to rent that studio to section 8? Does that living space, exclude or include the bathroom? Any insight or if you could point me in the right direction would be greatly appreciated.

What market did you purchase this in? Unit turns look great!