All Forum Posts by: Amil Spencer

Greetings BP Family

I've recently sold my home and looking to make an offer on another that will be my primary residence.  The home I'm scouting has been on the market for 4 days in the 75115 zip code.  The home was built in 2002, is 3619 sqft, is an 5/3.5, 2 stories, and comps are $180,000 to $202,000.  Listing price is $215,000.  I am thinking of an initial offer of $208,000 and want opinions on how strong others may view this offer.  Any feedback willbe appreciated.   

@Ryan Billingsley

"...Our title company funds the A-B transaction which is the seller-wholesaler transaction with the buyers funds (C)."

So your title company provides you transactional funding?

Thanks for the feedback. @Paul Brockmann the incentive suggestion is a good idea. Any particular thought on the series LLC concept?

Greetings BP.   I'm getting into the game with my wife, cousin, and a friend.  So really it's a 3 person team, counting myself and wife as 1.  We are wanting to form a business entity before we really get out there.  Our initial strategies will be assignments, sub 2, and maybe assumption.  That being said, I just feel that's a lot of mouths to feed when the potential for profit really isn't that great.  The initial thought was to hold whatever profits for capital to be able to eventually obtain these properties for rehab and flip. We would also then need to decide on how and when we would pay ourselves under this single LLC as well as how we will govern each other.   Another thought I am having would be to set up a series LLC where we have the shell company and 3 other series underneath that one to be run by each member of the shell.  This way each member is responsible for their own wholesale dealings.  I am also thinking that later down the roads these series can then later partner on rehab deals with everybody getting a share of the profits based on contributions.  Any feedback is greatly appreciated.