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10 February 2024 | 12 replies
So far, I'm attracted to wholesaling as it seems to be both a simple entry point and a way I can stay debt free.I'm a highly mechanically minded and detailed kind of guy, so understanding property condition and data processing is of no concern for me.
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10 February 2024 | 1 reply
I'm trying to figure out my processes for each.
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10 February 2024 | 3 replies
Looking back over this dark cloud on my REI journey, I realized my mistakes in this process.
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12 February 2024 | 20 replies
@Henry Clark The tax returns are just made through the holding company LLC with the S-Corp attached for those tax purposes which would never be closed, one operating account is all I need for the funds to come into and those funds would funnel from only the holding company with the S-Corp attached while all funds are processed out from their own LLC into the holding company, I have a single credit card for all business expenses that would be connected to the operating account aka my business checking, the insurance policies can only cover a single property at a time anyways so no going around that.Otherwise, if I can get around doing it this way and just have a single LLC to cover all of the properties I flip throughout the year then by all means I am up for saving some money but only if there is not a big chance that I can run into problems down the road with your suggested plan of attack.Let me know your thoughts on that because trust me I would much rather have it be as simple as possible
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11 February 2024 | 11 replies
As far as continuing the W2, it's not really an option as I currently work in Banking and more than likely someone would see it as a conflict of interest.That said, I'm not new to RE I've purchased numerous properties in the past and been to hundreds of open houses in the process.
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11 February 2024 | 7 replies
If you're curious about the loan process, you could start by looking at a company called Commercial Loan Corporation, who often specializes in loans to irrevocable trusts and is very familiar with the loans in regards to the property tax savings; my recollection is that they have some marketing materials on their website.
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11 February 2024 | 41 replies
We are in the process of exploring legal avenues as others before us have as well.
10 February 2024 | 22 replies
I agree, it is a horrible process for buyers.
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10 February 2024 | 4 replies
I'm not sure if he's on this forum but he's been making videos on the process and is always willing to share what he's learned.
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10 February 2024 | 1 reply
After that I may get my first J O B working for someone else to speed up the investment process.