All Forum Posts by: Bob Couture

I have a foreign relative that wants to buy a vacation home in California. They would use it a few months a year and rent it out when not in use. Most likely a cash purchase. What is the best way to go about this? - should an LLC be set up? - what strategy has tax advantages? - any seasoning needed on the money? Thanks, Bob

Hi Eric, Welcome to BP! If I can be of any assistance on the Western Mass market feel free to call or write anytime. -Bob

Bill, I will partner with you to set one up. It is needed. Call me at [REMOVED] or write [REMOVED]. We can get together next week and map out a plan.

Cliff, 

Seems like you put a lot of great analysis and research into this deal. If you feel that you can cashflow then any deal is a good first deal. Take the action. There are way to many variables. You have all the major pieces figured out. You are going to be hooked after the first deal from there you will learn and re-tool your strategy from there.

Best of luck!!!

-Bob

It seems like the feedback out there on Podio is very positive as well as some other CRMs. I would be interested in hearing how investors are using this tool? A more direct question/s:

- do you dump your whole mail list in Podio and work it from there?

- do you use spreadsheets for mail lists and as the leads respond you move it into Podio?

- did you create your own apps in Podio or buy?

Tom, if I know you you have a solid buy criteria that would most likely be attractive to other investors. Could you a) redo the offer as "purchase or assigns" and shop around for a buyer, or b) shop around for another buyer and do a double close.

Hi, Anyone know a good mortgage broker that knows how to get a first time homeowner into a home who has less than 1 year of W2's? Any particular programs like FHA?

Originally posted by @Jimmy Moncrief:

I would 'interview' bankers - specifically business bankers.

I know a lot of people like to beat up on bankers - but banks do 99% of real estate lending.  Instead of just complaining about them - learn to negotiate and work with them1

 Jimmy, who is complaining about banks?

Motivated Seller is looking to offload Stratton, VT slopeside ski condo. ARV $300K repairs $20K (according to seller estimates from contractor). No sale price negotiated. This is outside of my investment area. Call Bob at 310-922-5436 for more details and seller info.

I have a foreign entity LLC in Mass as I started in California, but I did not need to have insurance policy in place to get one. I do insure each rehab via a builders risk policy which does include limited liability. My advice is to apply for LLC. You will either get it or be denied for not having X Y or Z. Then you will know exactly what you need.