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3 April 2015 | 2 replies
i have a slight issue and have heard horror stories about leading i just started my llc for my investing business and found a great opportunity to buy a commercial mixed use building located in my home town in new york. now i guess my question really is what do you think the best method to finance this deal is without any assets in the lcc at the moment
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6 October 2016 | 24 replies
thank you BenThank you JohnRegarding self-employment over a w-2 jobWhen I was just out of the Marine Corps and I had this job at Johnson Controls engineering firm because I was a science major, had a lot of calculus physics and chemistryMy job was to sell to developers and builders That wanted air and water control devices and I was on straight commission basicallyI had like $20,000 in commissions that they didn't pay me for I got really upset and at 25 yrs of age I didn't have very much EQ, and my emotions got the best me I basically even went to a lawyer and asked how can I get my 20,000 in commissions here's the proof they owe me the moneyMy lawyer says it's gonna cost you 10,000 in legal fees to sue them at a minimum he's going to need that upfront as a retainerAnd then there was no guarantees I would get the 20 kThat's why I made the commitment at 25 never ever ever be a W-2 employee and I work as a 1099 alwaysThen I found a real estate 60-year-old mentor who taught me everything from distressed property to foreclosures to divorce to bankruptcy to probateI work for five hundred a week for 2 and a half years and then opened up my own business and did approximately 28 seller interviews a weekMy closing ratio in the beginning wasn't very good because I sucked at itBut with the good coaching from my teacher I got better and better and betterI quit after 2 1/2 years and started my own company on a shoestring it wasn't easyBut I made over hundred thousand dollars my first year if it wasn't for the teacher I would not know how to run a business and I would not know how to hire people and I would not know how to market and I would not know how to negotiateAnd you never stop learning because I made a Ton of money I was 29 and I made over 1 million and a quarter I rolled it back into the company which was a mistakeBut live and learn!
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5 April 2015 | 5 replies
Traditional bank financing is out, Being an investment and being self employed with low income after tax write offs, so I opt for private or hard money lending with an interest only loan as traditional financing is not currently available to me.After rehab I now have 40% equity in the home (property now appraises for $233,000).
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15 April 2015 | 1 reply
He's the handyman and carpenter, as well the good cop ;) So from what I was looking at on the IRS site if we own the sole prop as a married couple we have to file two Schedule C and both pay the self employment tax?
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7 April 2015 | 7 replies
@Phillip Syrios They probably look at debt/income ratio, credit limits, card utilization, length of employment, delinquencies, and bankruptcies.
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8 April 2015 | 9 replies
Before you spend any money on education, go to these meetings and talk, talk, talk to the people who are doing the strategies you want to employ.
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8 April 2015 | 3 replies
I need some reliable repairmen on the roster: General HandymanElectricianCarpet and flooringRoofingPlumbing and sewerCarpentry/DrywallPaintingCleaning/TurnoverTrashoutsYard CareIf you would like to get on my list please send me an email with your contact info, website or review info, and your general pricing rates/structure.This is not an offer for employment.
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6 April 2015 | 2 replies
How or what is best method for creating capital to make my first purchase.
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12 April 2015 | 2 replies
Brief overview (It appears they have to give 48 hours notice or 7 days notice of meeting) The method for the Association may deliver this notice is Not consistent.
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6 April 2015 | 1 reply
Our opinion: the weight/consideration that should be given to assessment is timing (i.e. when is the next assessment going to happen); any changes in assessment methods that a State/county is considering & exemptions that will not be applicable to an investor.