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15 October 2020 | 1 reply
Perhaps there is a play in which you can function as a service provider (NOT a property manager) and pass the management activities through a property manager that you know/like/trust.
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17 October 2020 | 2 replies
The #1 thing your missing is connecting with an inspector you can trust!
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16 October 2020 | 8 replies
It's easiest if your properties are in LLCs and the LLCs are in a Trust.
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17 October 2020 | 25 replies
The type of seller financing isn't discussed on here enough.With a note and deed of trust / mortgage from the seller I generally pay 6% with 10% down, providing references and utilizing a note servicer to reduce seller anxiety.
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22 October 2020 | 3 replies
- Do they have experience in forming, operating, and dissolving businesses and trusts?
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21 October 2020 | 7 replies
Do you yourself perform property management, or are you offering to make a referral to someone you know and trust?
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22 October 2020 | 9 replies
@Christopher Brown the question of legal entity is (obviously) a legal question, and if you're going to do real estate you'll need to form a relationship with a real estate attorney anyway, so I'd recommend you find a good real estate attorney (I can recommend a few in RI if you don't know any) and ask her/him.As a "general rule", for an active business with earned income such as wholesaling, an S corporation (either an actual corporation or LLC taxed as an S-corp) is commonly recommended, and a flow-through entity such as a single member LLC, partnership LLC or trust is commonly recommended for holding rental properties (rental income).There are subtleties between the right entity for legal protection, and for tax effectiveness, and the right answer for you and your situation might not be the right answer for someone else, so it's really a good idea to consult with an attorney and tax advisor about your specific situation and plans.
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18 October 2020 | 4 replies
I would not trust algorithms of this kind.
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20 October 2020 | 8 replies
It was a trust sale and I was able to negotiate a $100K price reduction and a $25K credit because of the property condition and market timing with covid-19 How did you finance this deal?
22 October 2020 | 12 replies
@Connor Steck I wish I would have received more guidance from my trusted peers when I was planning for the future.