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All Forum Posts by: Rafael Perez

Rafael Perez has started 2 posts and replied 5 times.

Post: How's everyone doing, from Taylorsville UT

Rafael PerezPosted
  • New to Real Estate
  • Long Beach, CA
  • Posts 5
  • Votes 0

Wow, how time flies, I don't expect anyone to reply to this... and honestly I don't know why I'm even writing this, maybe as some sort of catharsis for how my real estate "dreams" never got off the ground almost 10 years ago.

My father was diagnosed with cancer shortly after my posts here and from there I became the sole provider while he had an operation. He came out fine but that year and half were rough mentally, physically and financially. After that I moved to Los Angeles to pursue my real passion, and I gotta say it's been a fun ride here. 

After becoming a dad and finding new meaning in many aspects of my life I now have the fire building up inside of me to learn about real estate again. I have forgot most of the very little I learned. I will comb thru this forum, read books and learn until I am ready to make a move.

So it begins... again

Post: Equity holding trust

Rafael PerezPosted
  • New to Real Estate
  • Long Beach, CA
  • Posts 5
  • Votes 0

I've been talking to some local REI group members and I had a question that I have not been able to readily find the answer to by using the search button.

In an equity holding trust (land trust) can the beneficiaries sue each other? Would naming an LLC a beneficiary(instead of an individual) protect from this possible scenario? I know the trust protects the property from outside dangers (IRS etc) but does it protect from legal action from within?

Post: How's everyone doing, from Taylorsville UT

Rafael PerezPosted
  • New to Real Estate
  • Long Beach, CA
  • Posts 5
  • Votes 0

Thanks for the warm welcome everyone.

@Gary Parker feel free to contact me if you need something :)

Quick update, went out and drove for dollars yesterday, looking exclusively for non REO vacant homes. Wrote down about 15 addresses, then went to the county recorder website and was able to pull the data for where the owners currently reside. Debating weather to send them direct mail or try to find their current phone number and make direct contact. I still need to find a way to pull legitimate comps but have no access to the MLS. Also, I need to find an honest, trusty contractor for when I start doing walkthroughs to help me estimate repairs.

Busy day tomorrow

Post: How's everyone doing, from Taylorsville UT

Rafael PerezPosted
  • New to Real Estate
  • Long Beach, CA
  • Posts 5
  • Votes 0

Thanks for the heads up, I'm currently locating and researching some vacant properties so I'm trying to keep busy. I have a friend that work as a real estate agent so in case I get stuck, I can give him a call for some help. I will def. try to get to know people on here and form a network.

Post: How's everyone doing, from Taylorsville UT

Rafael PerezPosted
  • New to Real Estate
  • Long Beach, CA
  • Posts 5
  • Votes 0

Signed up to BP a few days ago, I like reading a searching for the great amount of knowledge there is on here.

A bit about me, I'm new to real estate (only about a month in) and have read the basics, this had led me to believe I would like to start wholesaling and further down the road get into fix 'n flips with my father.

I have a huge drive to succeed since I need money to pay for medical bills and other obligations. My problem is I usually don't "like" to ask for help, I'm one of those stubborn people that would rather jump in the pool headfirst and hope there is water in there. HOWEVER, if someone throws a bone my way I'm not going to reject it, I would be 10000% grateful.

With that said, I have attended a REI meeting and networked with some people, also have asked potential buyers what buying criteria they are looking for and have been trying to look for those properties exclusively.

I am Spanish bilingual and have nothing but time, no other job so this will get 100% of my effort, if anybody needs help translating/communicating with potential buyers/sellers, drop me a message on here, I would love the opportunity to help a local REI and learn the ropes at the same time.

Cheers

Rafael P.