All Forum Posts by: Wesley C Smith

@Kevin Evers it charges 15% which sounds like a lot compared to what everyone else is saying.

@Bill Neves I don’t know if you are still on here as this is an old post but thank you for your insight!

Hello everyone. I am buying my first duplex and plan to have an LLC to separate my personal and business financials. I was talking to my banker and he advised that I should by the property under my personal name then execute a quit claim and sign the property over to my LLC. Does this sounds like sound advise? Again, I am new so don’t fully understand the process. Thank you.

If the number work call it a deal and don’t beat yourself up. What was the cap rate, cash on cash and cash flow?  I would compare these three figures against any other deal you were considering. It help keep things “apples to apples”. If you are fulfilling your long and short term goals you are winning. 

Well said @Heath Ryans. Utilities can have a big impact on cash flow. Be sure to get all the bills for a few years so you can get a realistic number. If you are investing in an area with heavy change between seasons the utilities can get pricy. 

@Hilary Catton It would be cool to have a book swap discussion board. There are so many good books we could share and send and trade. I would totally use a book swap on the app. Thanks, Wes

Hey everyone. I am buying my first deal and have a dumb question. Should I be seeking out a contractor for repairs or separate vendors for everything i.e. plumber, electrician etc?

@Brandon Russell Following. Good question, I am new and am trying to learn how to find “deals” beyond the MLS.

@Michael Ciesielski Hello, I am new as well and started looking in Flint initially. What made me move my search is the water situation. Perhaps there is a way to tell if the pipes in the hone are good or bad but it’s more pain in the butt than I am will to go through/risk. Hope you find what you are looking for. Best, Wes

@Christopher Lombardi Thanks, this is just what I was looking for. Hearing someone else’s strategy is super helpful. Thanks, Wes