Port-of-Spain, Trinidad · Member since 2016 · 6 posts · 1 vote
Good day, everyone.
I hope that all is well. I wanted to find out what is the best way forward for someone like me who definitely is lacking in financial resources. I went to a seminar where one of the presenters advised that individuals in my predicament should try to build a Power Team and set up Wholesale deals for quick cash.
However, I am having an issue with the trainers and their law firm over a misplaced payment that I gave them for the registration of a structured LLC in Utah.
It is really frustrating. This seems to be an excellent site for garnering information. I appreciate any insights that can be provided to me.
I am eager to learn and do look forward to developing many lasting professional relationships as a result of this site.
Real Estate Agent · Raleigh, NC · Member since 2016 · 34 posts · 10 votes
10y
John,
I am having a similar problem myself. A few years back I paid about $1200 to have my LLC set up n Nevada only to find out months later that I could have set it up myself and filed for a couple hundred bucks. What I have learned from my own mistakes is that when starting out, focus on marketing. If I could take back the $3000+ that I have gave gurus and third party companies, I would be well on my way right now. While starting spend your money and efforts on generating leads, the rest will come.
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
10y
Why did you set up an LLC if you don't even have a business to run yet? Seems like a waste of money and time.
If you don't have money or access to money trying to break into real estate is going to be a very difficult task. Not much you can do other than try and "bird-dog" for potential local investors. Other than that not much more you can do.
Wholesaler · Columbia, SC · Member since 2016 · 75 posts · 15 votes
10y
John Cozier I would concentrate on building a wholesale business. I am also a cash poor investor but I just got my first wholesale deal under contract, got the buyer in place and we're setting a closing date. The money I receive from this will go towards marketing. I wouldn't worry about setting up LLC at this time. I don't have one but as I get more stable then I will create one. Concentrate on closing wholesale deals.
Port-of-Spain, Trinidad · Member since 2016 · 6 posts · 1 vote
10y
@David Bokman I appreciate the candour and do realise that this will be a difficult venture. My current job does not allow me the time to do any bird-dogging though.
@Kim Ford@Brandon Beverly Thank you both for the advice. My only issue is that I am not a resident of the United States and I will likely have a hard time getting deals done without the LLC setup. I am open to correction. I was looking to do some wholesale deals when I got the LLC registered.