Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Beth Rook

Beth Rook has started 4 posts and replied 17 times.

Thank you Nathan for your thoughtful reply.  My Google search landed me on this thread:). I attended a local group for a while and attended a couple of other one time things. I found a property at one point and approached the person in the group that had wanted that type of property.  He was no longer interested. Took a seminar which I consider was a waste if money. Signed up for one of the courses on Bigger Pockets.  I need to review the material again probably, ok actually study it.   Went to foreclosure auctions for a while. And I've worked for realtors and was a realtor myself for a while. I found a person willing to let me invest the small amount I could afford.  I found an auction property, drove by it and sent him a long email with my observations and values that I came up with. He then decided he didn't want to work with me.  I have a classmate in another class I attend (no relation to business  at all) that also goes to auctions.  Purely by coincidence I saw him at one.  I told him what happened and I sent my email to him.  No response and he pretty much dismissed this line of communication.   I found out another classmate is a realtor and investor. She had no interest in me.  I think I have something to offer but maybe I'm delusional?  These already successful people don't want or need anything from me.  Also finding people with the same goals, at the same place financially, who want to do the same thing, and who are trustworthy, seems to be like trying to find a needle in a haystack. Thank you so much for sharing and I will study your insights.  I have helped others with little benefit to myself and I know it can be frustrating when they don't follow through. 

Nathan Gesner, how would you go about finding a mentor/partner within these investment groups and getting them to allow you to participate in a deal?  What is the best strategy?

Post: How do you find deals for your buyers?

Beth RookPosted
  • Posts 17
  • Votes 3

Stephen, you're in Indianapolis? There is a wholesale group that meets once a month.  I visited one of their meetings a while back when I was in the area. They met at The Speak Easy.  Look up subREIA, Simple Wholesaling-Ronnie Reese.  They seemed like a nice and ethical group of people to me.

I bought my last primary home word of mouth for what they would have saved in commission. When I went to sell, I couldn't find a buyer fast enough for my liking so I listed in Zillow fsbo. Got calls from Realtors trying to list me and investors trying to lowball. I then paid a company $150 to list in MLS. Received showings within minutes. Multiple offers and closed last month. I think door knocking since you're already a neighbor and leaving a note. And spreading the word. Does your neighborhood have a community website or newsletter you could advertise in?

Post: Does each LLC have different EIN?

Beth RookPosted
  • Posts 17
  • Votes 3

Cody thank you :).

Post: Does each LLC have different EIN?

Beth RookPosted
  • Posts 17
  • Votes 3

Cody I was wondering how you file 1 tax return with muliple EIN number.

Post: Does each LLC have different EIN?

Beth RookPosted
  • Posts 17
  • Votes 3
Quote from @Cody L.:
Quote from @Beth Rook:

If you have an LLC for each property or for different businesses, does each LLC need to have a separate EIN? If so, how would taxes be filed? I understand a single member LLC files a personal tax return and that is it, but how would having several LLCs affect that?


I'm seeing a lot of people saying you need to file a tax report for each LLC. That's not true. I have 48 LLCs. I file 1 tax return. They're all disregarded entities and what the IRS cares about is how much did that property make. Whatever it makes shows up on your tax returns.

Unless my tax guy is doing it wrong...  But that's how I've done it for ~10 years.   At the start of the year I run an income statement for each property and send it to him.  I don't think the IRS cares one bit about if the property is under 101 Main St Home LLC or not.


I am in a southern suburb of Atlanta.  I would like to wholesale or flip in order to build cash reserves.  I've been told to pick an area to focus on.  I have no income to speak of or job.  I know this is a tall order, but where is the best area to focus on with 50k cash that I could quickly make a profit?  Example; I saw a 1 bedroom house in Macon for $11k that looks like, well completely disgusting, I'm thinking might cost more to bring back to life than it would sell for and would I be safe walking down the street.   But it's in my price range!  I feel like just diving in at that price and hoping for the best, but thinking I need to check myself.  Thank you.

Post: Southside EEE Meetup

Beth RookPosted
  • Posts 17
  • Votes 3

Will Feb 9 meeting be same time and location?