All Forum Posts by: Karen Margrave

Denise C. If you do a google search, you'll find several sites that allow you to set up a corporation in any state, by filling out the online forms. It's very simple to do. Look at a few sites, and compare what they do for you for the price.

@CaseyS You have two empty units, of course you should pay for an ad! Plus do what the others on here have mentioned. You can also post on Postlets for free, and they submit to a bunch of other real estate sites. Have you considered offering an incentive, like one month free rent?

Don't underestimate people, just because they are down and out, maybe lost jobs, etc. doesn't mean they don't have smartphones and internet service, so that they can look for work, etc.

J Scott, Douglas Dowell, Bill Gulley, What a wealth of information from the three of you, Thank You. I knew that each idea was extremely complicated, and that's why I posted the question, knowing there were those of you with real experience in the area to begin my education. I'm not foolish enough to try to put together anything like that on my own. My intent is to start getting the basics down in order to decide if it's something that makes sense, and if so, to know what to discuss with attorney, etc. From what you've written, it seems JV would make the most sense, less regulatory and time consuming ,however; I will need to look into that further. Thanks again everyone.

In some neighborhoods the only sales (and they can be a year old) were fixer or REOs. Some are bought for rentals. Until the others are rehabbed and back on the market as sales, it's extremely difficult to find any comps, let alone good ones. Houses to rehab are few and far between in this area. Is anyone else having that problem, and how are you working with it?

Have you had any experience with a JV or Syndication on real estate? What is the difference between a Joint Venture and Syndication when it comes to financing a larger real estate project?

I know with all the new regulations it's risky to advertise for investors, how then, does one go about finding Joint Venture or Syndication partners?

If you wanted to do a larger commercial project, what method would you choose for financing, in a situation where it would involve spec new construction and conventional financing wouldn't be possible.

NOTE: THIS IS NOT A SOLICITATION FOR INVESTORS... I AM SIMPLY TRYING TO LEARN THE DIFFERENT POSSIBILITIES FOR FINANCING LARGER PROJECTS FROM OTHERS THAT HAVE DONE THEM, AND UNDERSTAND THE LAWS REGARDING ADVERTISING FOR FINANCIAL INVESTORS. I DO NOT HAVE A PROJECT I'M TRYING TO FUND.

I have never dealt with any, however; have heard others that have and it seems the biggest concern these days is what environmental liability there is or could be. For instance, with the new nanny state movement, there are concerns from some about polluting the air with "scents" and dryer sheets put out a scent. Will the EPA come in and tell laundromats they have to add some expensive filtering system? What about the water from the machines? Who regulates what on that? I would ask the County or City Departments on that and see if there are any special fees associated with laundromats or car washes, and if they know of any legistation in the pipeline that may impact the business.

If there's 100% return (and I highly doubt it) there has to be some reason the person is selling. DO YOUR HOMEWORK... and hopefully it's as great as it's been represented.

On Million Dollar listing the listings are real, the agents are real, but the assistants for the most part are actors, reading lines, etc. and know nothing about real estate.Not sure if the buyers are actors or "real clients"

You don't give enough information for an opnion. First, what is the age of the home? The value of other similar homes in the area? Are you going to live in it or rent it out? What will it rent for? What are the terms of the land lease? What are the terms of the original loan? Payment seems high. Is the park an adult park, or family park? How many of the homes in the park are owner occupied? rentals? etc.

I know basically nothng about manufactured homes other than selling one for my mother, but the questions I posed are ones I'd ask.

Ana Rose That post has nothing to do with anything, and you can't make financial decisions based on decorating choices. Sorry.

Marimar Hernandez You have been given some great advice on here. You definitely need to know what ALL the costs involved in rehabbing the property will be, what your position will be, etc. If you don't know anything about construction costs, you need to rely on someone that does in order to know if the estimates for repairs make sense. Also, do some comps of your own on the neighborhood, taking into account if the house was sold as a rehab or it's already been repaired and flipped. Have you asked what properties the borrower has completed before, and verified the numbers they purchased for and sold for (or has the broker?)

Regarding the broker, how well do you know him? How long have they been brokering loans? Have you checked their license, etc.? References?

The agent would contact the seller and tell them that they have a buyer for their property, and ask if the seller is willing to pay a commission. Are you offering full price or ?, and what is the actual value? All of that will factor into it. If you found the property you want, and know details, the agent might be willing to take less of a commission since he didn't have to find the property, etc. All they would need to sign is the purchase agreement, as long as it shows the commission amount and to whom it's paid on it.