All Forum Posts by: Attila Vad

Hello @Matthew Kassel

Welcome to BiggerPocket. I think you will be able to make great deals in Jacksonville. 

Hello @Miguel Galeano

Welcome on BiggerPocket.

The main reason to set up a company is to limit your liability deriving from owning a house and having tenants in your property. The tenants can sue you for anything and if you have a judgement against you, you might loose your property as it will be on your name. On the other if you have an LLC you can enjoy several tax benefit if company set up properly. My recommendation is to get an advice from a CPA. My advice is to start your company as soon as you can.

Welcome @Shon Sandy to BP!

@Sameer M. Hello,

If you own the property on your name and have it rented for about 1 year then you can apply for refinance at the local banks.

Hello@Ronald Parker, Welcome back to the real estate business. I do wholesale business in Miami and Jacksonville, I can give you some insight on both markets. 

Hello @Scott Schaeffer in BP.

I'm not a legal or tax advisor, however based on my experience, the savvy investors usually establish an LLC partnership with a 2% member that is also an LLC taxed as a C-corp. In this case you have the benefit of both world. You need to find a CPA to give you advice how to operate the partnership.

@Logan Halliburton Welcome to BP. Good Luck with learning and networking.

Welcome @Account Closed to BiggerPockets,

There are several options you can select from. You can buy turnkey rental packages, you can buy several rentals separately like Jesse suggest. You can find an expert who will work with you and find the best solution.  

Hello @Kevin Booker,

Welcome to BiggerPockets. I'm ready to network with you. 

Hello Jamie,

I think what you need is a good realtor.  If you want to do all the work on your own you might make a lot of mistakes. This is exactly why you need a realtor. The realtor commission will be payed by the Seller and not you. I  can refer you a realtor if you want to.  

Be very careful, public auctions and tax deed auction is not for newbies. In order to be a successful bidder on public auction you need to pay cash!!!! Financing is not an option on auction. Unfortunately you can not buy from wholesalers as you do not pay cash. You best bet is to get a excellent realtor who will find you a good property from the MLS.