Mark Evelyn
Concerns in buying established small business
21 January 2008 | 2 replies
Also, when buying an existing business, it should be an “Asset” purchase, not asset and liabilities… Ask an attorney for help here… You are simply buying the "stuff" the company owns… Then you form a new entity (Corp, LLC etc) and name it very similar to the old name, so you can retain the customer base.
David Arney
Getting my feet wet?
5 February 2008 | 11 replies
When people do this, they tend to “twist” their thinking a bit and sometimes buy things because they were going to live in it, not because it is actually a great “investment”.If you find something that is a great “investment” and then you decide you could to live in it that is ok… All I am really trying to say is… Don’t let your personal feelings enter into the picture…
W L
Brand new to the process, not sure of procedures.
25 January 2008 | 3 replies
What I am saying is I think the 15-day thing is probably state statute, but the lender can probably take it up to the sale, postpone the sale, or simply cancel it.
Niall O'Malley
LLC will own the property - what kind of mortgage do I get?
11 May 2018 | 24 replies
What I was simply saying is that I would not want to risk “everything” by having a bank (that had given me a loan) have my LLC and it's assets as collateral….
Jorge Caicedo
Newbie wholesaler looking to network with others
25 January 2008 | 9 replies
Also sounds like they are controlling the conversations and not you… You are the buyer, you should be in control and asking them the questions… They as the seller should be “selling” you on why you should buy their property… But it sounds like instead they are confused to who you are and what it is you do… In their eyes… you should be simply a possible buyer… Any more than that, it can and will create confusion.All for now… Good luck!
Jim McMillen
50% rule
16 October 2018 | 78 replies
The 2% rule is simply a screening tool that says that you need the monthly gross rents to be about 2% of the acquisition cost of a rental (purchase price + rehab).
Joshua Dorkin
Do You Protect Victims of Domestic Violence, Abuse, etc.?
17 March 2008 | 13 replies
We actually have a property in Missouri where a woman shot and killed her abuser as he tried to enter the property.
Ed Thomas
Close at low interest rate-then reamoratize?????
27 February 2008 | 1 reply
He says that we can go ahead and close now with a low interest rate, and then simply reamoratize when we sell our old home to reduce the payments for a fee ranging from $300 to about $1200.
Account Closed
Editing a profile - suggestion and bad assumption
27 February 2008 | 0 replies
I was provided with the error message and the form was returns without all the fields that I had entered now being blank.
Sue In Denver
What Have Been Your Greatest Frustrations In Starting Out?
23 June 2008 | 19 replies
Low barrier to enter.