All Forum Posts by: Michelle Bey-Williams

IT IS THE LAW

The Illinois law limiting wholesaling business to licensed RE Brokers was passed and signed into law and is now in force as of 8/9/2019

Can anyone share their experience with Dave Lindahl's REMentor Mentorship program?

Alina Trigub, please give more details about what you have gotten from Lindahl’s multifamily bootcamp. Scheduled to go next week with husband who is balking because of expected up-sell. Is it worth it to go to bootcamp? Will we be equipped to take action with “no money down” when we leave? Have done a couple of smaller deals over the years, but ready to step up our game.

There is no share of profit. We have to pay 20% down and closing costs, plus 3 points. We also have to have 50% of rehab done before reimbursement. They have a pretty structured rehab schedule and requirements but we're very close to signing a purchase contract, so....

My company has a high bid on a SFH and is awaiting a contract. We have been in discussions with Flipping Depot and Sunway Realty and they have preliminarily agreed to fund our deal at reasonable rates. However, they want to be on title as the buyer, rather than 1st lien holder. There is a separate contract that promises proceeds over loan amount to our LLC at resale or refinance. I’m assuming that this arrangement benefits them over us tax wise. Is anyone familiar with this process? Advice?

My LLC has made an offer on a SFH in the Chicagoland area. We have been in discussions with a lender through Flipping Depot called Sunway Realty that has agreed to fund our deal and has pretty decent terms. They are different from a Private Lender and a Mortgager, as they want title at closing, with a separate contract between our company and them which would pay us at resale or “refinance,” Has anyone done business with them or is anyone familiar with that process? I’m assuming that they will receive any tax benefits arising from owning the property versus our company on title. Advice?

I’m curious, Jake. How did you sign up to connectedinvestors for free?

Hi, our attorney is strongly discouraging a double close. We have an assignable contract for a purchase and an interested party in a foreign country. The Assignment contract we have needs to be notarized. How do we do that?

I mean "Lending Home."

Thanks. I figured that out. No info. What happens when they fool you.  Do you know about Lender Home? They seem legit, but I'd like some feedback from anyone who may know more.