All Forum Posts by: Ahmad Omar

@Matthew Finamore - Reach out to Steven Turner with Morris Insurance Agency, LLC. They're based in Mobile and are fantastic to work with. Let him know I sent you!

Hey Livia, I along with some partners invest regularly in the Mobile, AL area and own several single family and multifamily properties in and round the city. Would love to chat!

Need some advice! I've been investing in Section 8 rental properties for a few years now and its been working out great. One of my friends wants to team up with me on a new investment. The way I typically do my deals is I fund them with my own cash and put them under my LLC.

He is basically wanting to put up some capital and share in the profits but does not have any experience in real estate investing. I bring the experience to the table and he brings his capital. I also can put some of my own capital towards the deal. He will learn from the process and make a lower risk investment than going at it on his own, and I will be able to use his capital to help fund another deal. What is a good JV strategy that would be fair to both sides?

@Lane Otto I'd recommend Ivey Welch (https://mobilerealtors.com/agents/WELCHI/). Shes a great realtor that works well with investors. We have worked with her for the past 4 years and she has been extremely helpful and flexible. She also works with several other investors so she can give advice based on what you're looking to do. Highly recommend!

For wholesalers I'd recommend Irby Homebuyers (Jared Irby) and webuysouthernhouses.com (Wes Jordan). They are two of the largest wholesalers in Mobile and they usually have a couple of new properties every month. 

Anthony, I'm a buy and hold investor in Mobile, AL. The zip code you mentioned as well as others in Mobile are good for all forms of investing, just depends on what you want to do. 

I'd recommend reaching out to a realtor in the Mobile area that works with real estate investors and having them show you properties virtually (whichever method you prefer). I can refer a great realtor that can show you some properties in the area and works well with investors. Also, get on some wholesalers' lists and start reviewing deals that way. I can recommend a few of those as well. Let me know. 

One thing I've learned about out of state investing is to build a good team. I know this is what everyone says but its so crucial in building a business remotely. 

Hey BP Wholesalers,

What challenge would you say is the hardest to overcome in wholesaling and how did you overcome it? Is it finding leads or cash buyers? Driving for dollars in your market? Virtual wholesaling?? Hit me with em!

Thanks.

Hello BP Members!

Does anyone know of a website or app that basically will provide a connection between wholesalers and cash buyers? Maybe somewhere where wholesalers can connect with cash buyers in the area and market their properties directly to them? To my knowledge this is all done through email lists that can be very annoying and repetitive. Other marketplaces like Zillow and what not have EVERYONE on there, FSBO, MLS listings, and wholesalers. Seems to me like theres no good way to do this other than go to REA meetings and write down an email on all the wholesalers lists and hope for the best.

Anyone know of anything?

Welcome to BP! I'm also investing in the mobile, al area and doing rentals. 

@Logan Allec thanks for your response. So in summary, I'll have to file the federal return (Form 1065) in order to file the BPT-IN and pay the $100 minimum tax for Alabama. Correct?