All Forum Posts by: Luke H.

Exactly what kind of business are you talking about?

I bought my first house, lived in it for 3 years, rented, then started buying a rental property every year. I fasted 'get rent ready' was 3 weeks. I created my LLC about 3 years in.

I focused on making money first, then expenses. just saying.

Good luck

Only thoughts is run the numbers until you find a deal.  I think it is the same if not worse here in Houston. My opinion

They are illegal in Houston, Texas, I got a call from the city saying they would fine me $300-$500 per sign. I suggest you ask business owners if you can place them on their property or property owners. 

Good luck

You say you are doing it for diversification and way to spend your free time. Then you ask about taxes?  If you are making positive cash flow and a profit at the end of the year then I say do it.  Learn to automate it as much as possible for the least amount of expense.  This way you can make money with very little effort.

That's my goal

I would put the deal on 1 page, with a picture or to. they want to know the ROI.

i saved all the money I made, took the bus, rode my bike, read books at the library, had roommates to share costs. Then I purchased my first house and used all my income to pay it off fast. Then I repeated it over and over. My goal was 1 deal per year. 

my opinion: go work for a wholesaler that is doing a few to a lot of deals per month. Learn his process and then repeat it. 

Or
Find a good process and go for it. 

Main thing is you take action and keep at it until you succeed.

Good Luck,
Houston, Texas

All agents become your friends after you do a deal or 2 with them. More education is always better in any industry. It will probably lead to more deals. Good luck

Have you been to RICH club?

PM me, I'd like to hear about your wholesaling business please.

Thanks!

That sounds like a deal! Huge positive cash flow.  BUT, I'm guessing you've heard the saying. If it is too good to be true, then it probably isn't true.

Due diligence is your best friend. Get a contract with clause that says you can get out based on inspection and financing.   Go with a certified inspector and ask lots of questions.  Residential and commercial are different animals in the same kingdom.  

Talk to the neighbors of the property ask them questions.

Most likely the property needs so much work that the cost of work plus $50,000 will be in the same ball park if you purchased it without any issues.  Make sense?

Hope this helps!