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9 February 2024 | 4 replies
Both homes that I've purchases were on market deals, so I'm a bit hesitant to be the guy who calls someone up because I get those calls several times a day and I hate that using cold calls is the standard.I don't expect to be able to use the fact that I'm a local just trying to make my business work in the market it was designed for as a leverage point because it's not helping the potential sellers at all.
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9 February 2024 | 0 replies
Main lesson learned was all investors need to be on the same page with material and design selection.
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11 February 2024 | 34 replies
Do you recommend that I sell and use the money to purchase out of state to begin the BRRRR process with more affordable and better cash flowing homes?
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11 February 2024 | 13 replies
Question is, should I continue to seek out deals to get this process started (buy in next 6 mos) or should I sit on my savings another 6 months and reevaluate?
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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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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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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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9 February 2024 | 1 reply
Have always had a passion for real estate, architecture, and design-and thought if not now, then when?
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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.