All Forum Posts by: Bryan C.

I heard mention that the IRS has a 2% Fee that is sometimes applied to creditors and I was wondering if anyone had knowledge on this?  Also, how might I avoid this....?

Good evening everyone,

I close on a property today in the Cincinnati area that I will be having some repairs done to make it rental ready in about 40-45 days.  The property had the electrical & copper  stolen last month while property was listed for sale (prior to my purchase).  I wanted to hear from other people as to suggestions on how to improve the Security and reduce the chance of burglary?  Keep in mind that I am an out of country investor so some options may not be feasible.  

not yet...

Near London England.

@Andrew Cordle that is pretty much what i am looking for.  Basically I handle most of the $$ piece and they manage the flip but that can get risky.  I need to have someone that I can trust that will handle it right.  Have u done this before?  Any tips ?

@Darrin Carey , as always thanks for the info.

I know that virtual flipping presents a new set of complications vs virtual wholesaling or renting.  I want to ensure I understand most aspects of it or more before I actually try it.  I have been wanting to get into it but i want to do it the right way.

Anyone got an example or template of a JV deal they want to share?

Anyone have an example of the paperwork for serving as the Private Lender?

I am an out of town investor for the Cincinnati - Dayton Ohio area.  I have some money to invest and I am looking to do Virtual Flipping.  I am from this area and familiar with it, plus I have some friends & family local.  

I am seeking advice on the steps that I should take when seeking a partner....

- what should I check on anyone that I deal with?

- what things do you check when dealing with someone else?

- once I find someone to partner with, what docs need to be in place to protect all parties involved?

- what type of split or interest rate do you receive if you lend $$$ & if you do a JV deal?

@Harold Groetsema I am also curious 

@Chris Martin yes basically I am paying the seller for their LLC and title remains under the same LLC name. Then 1 yr from now I can change/merge

because i dnt have to pay the $2k if property remains under current LLC name