All Forum Posts by: Scott R.

hmmm thats weird. I guess everywhere just keeps getting more different. For the condo i live in i got about 9 months ago we used a personal check of only $1000 as earnest money and the last house we put an offer on we used a $2000 personal check. Cant recall the banks that owned the places but yea, they didnt seem to mind but we also showed proof of funds so maybe that made them comfortable?

could you sell it in a land trust instead of an LLC?

what if you find an REO and can negotiate at a good deal. You dont have jack for cash but you have an end buyer who doent have good credit but you find a private lender who will lend to him. so say its $100,000 and FMV is $130,000 so would you put the offer in the LLC and double close, put the right to assign to any name or entity because you dont know what LLC your going to put it into at the offer time then assign it to the other guy at $30,000 or do what the other guy said and use the LLC and quit claim as both your names are in the contract?

if you think about it, a check isnt money anyway. the only problem is if something goes wrong in the close as in you want to walk and forget a clause they trap your money.

why not do this. write a "promissory note" for whatever they are requesting saying that the money will be brought to closing. its the same thing as a check, or out phoney currency anyway. its a note, a promise to pay

I live in California and was about to get into not brokering. As in not buying the notes but finding them, passing to large company, negotiating with the owner of the note and taking the difference.

I have read a few attorneys saying you need a brokers license after 7 or 8 deals.

then i read on the DRE for Ca something saying that if you arent personally buying them then selling them you are a note broker and need a brokers license. Im confused because i know there are people doing it but i dont know if they are simply using a different "Name" for it as in a gray area of the law. I know you cant give LEGAL advice but can you tell me what you do or heard others do

As the title says. I live in sacramento, ca and am building a team i can work with so im going to need a good CPA for my taxes as i go through real estate investing and i would like one who invests in real estate themselves! any help guys?

YES! im working on mine right now BUT you have to understand there are alot of crappy places that just want a quick buck! There is only one place and he is the nicest man i think i may have ever met. So nice i dont even know how he does business but he is very good at this and CHEAP!!!!!

i dont know if i can post a web site but i have met him in person and he is the owner!

go to vitessefinancial.com, call in and ask for Greg like you know him so you get right through. (ex. hey is Greg in right now?) and you can bypass all the other crap. i called the other day to check on a report and they said he would be out till the 9th which is today so i would think tomorrow would be good. its like $50 a mo and he tells you to cancel when you want to. Its awesome!

This is where property management comes in. Dont you have an office with someone there that they can talk to? NEVER let them know you own the place. If an entity owns it like an LLC then YOU are not the owner. You run the LLC but you also run the apartments.

here is how the convo should be. " ill be sure to talk to the owner tonight when we have our meeting" Then when you sit down with yourself you can figure it out. If you want to keep taling to her and figuring it out yourself.

If she doesnt know you own the place yet then tell her you switched positions with the company and now you are job site manager only since your working on the other place nearby and direct her to the office.

So

yup, henry kissinger is big on this to. the georgia stones or whatever it is has it written on there that the goal is a population of 5 million people