Regardless of which structure you choose, be sure to have a good understanding of the prohibited transaction rules and choose a provider who can help you develop that understanding.

I think that is partially because of Illinois being a mess, but Macomb also doesn't need have a ton of job prospects for people to work during school.

I currently work for a vacation rental company, where I speak with prospective homeowners all day.

Everything doesn’t seem to come close to cash flowing and seems to be more sold for speculation .. future development .Interesting to hear about your direct mail experience , what areas were you targeting on the outskirts of SoCal ?

Along the lines of David Greene’s advice I’ve been putting together what I hope to be a “Big 4” team and I’ve found as I ask for input on potential single family deals from a prospective property manager that the manager is a licensed real estate agent and interested in representing me as the buyer’s broker.

I feel there is anyone in the Massachusetts area looking for a partnership I’d love to meet up sometime to see if we could develope a successful partnership.Also, if there is a local meet up that may lend itself to networking with rehabbers please inform me as I have not yet been to a meet up and not sure if that is allowed at all meet ups? 

Develops or redevelops it.Constructs or reconstructs it.Acquires it.Converts it.Rents or leases it.Operates or manages it.Brokers it.Keep in mind, the RE pro text must be met for EACH property, unless you elect to aggregate them all as one activity.

I'd be interested in your thoughts about this: -Listing price $125k (comps show past solds are between $100k - $115k) -2 units: each unit 3 bed/3 bath ($800 + $850: total rent is $1650/month) Both tenants want to stay-Taxes are between $1750-$1800/year-Home Insurance: getting quotes between $1100/yr - $2000/yr-Good school area: Great schools show elementary/middle/high are between 7-9-in HOA: HOA fees are $40/month - go towards a community pool- property built in 2010- property management at 10% (I debated managing myself but am 1 hour away) -tenants pay all utilities-was part of a huge development that didn't get all developed, there are lots of vacant lots between propertiesMy goal is to get at least $500/month in net cash flow after all expenses are paid at and least 15% cash on cash return. 

Hello All, Can someone please recommend a bank that they worked with that can finance new construction development for single family homes on subdivided lots. 

My wife is a RE Agent and a new build in a different part of town in Dell Valle development (master planned community) has caught our eye.