All Forum Posts by: Charles Carillo

@Michael Judge

I was an entrepreneur before and after college. My parents made me go to college, and I am happy I did. I am not a burn-the-boats type of person, and I am more productive with a backup plan. You have a solid backup plan if you get a degree in something useful (like marketing). I would possibly start a small business in college and start building up some capital while focusing on graduating debt-free. I ran a business full-time in college all 4 years while going to college full-time and playing lacrosse. Most college students waste a lot of time.

@Mohammad Al-hadad

I would not worry about what others say, but I would worry if the property does not cash flow. Will a property you purchase for $415k cash flow with a tenant paying $3,000? Even if you put down 20%, it will most likely not have cash flow when considering repairs, maintenance, vacancy, etc. I would also hire a contractor to estimate repairs; I don't think I have ever purchased a home that just needs $5,000 in rehab. Walk around Home Depot; it is not inexpensive to rehab properties.

@Robert Pitchford III

I would just get licensed. It doesn't take that long, and it is not that hard.

For example, in Florida, it is a felony to engage in the unlicensed practice of real estate. I wouldn't risk it.

@Neil Seldomridge

The website is becoming that as well. You would think they would suspend ads for paid accounts.

@Rollin Buffington

You will want to speak to an accountant since, if the current owner of the property and the owners of the LLC are different, taxes might be owed when the property is transferred/sold to the LLC

@David McFarland

I would suggest cash for keys. If they cannot pay the rent now, they won't be able to pay it in the future. 

@Brian Jasinski

You could also speak to the seller, offer to put down an additional deposit, and see if they will extend the closing date by 60 days.

@James Aravena

Yes, your attorney is correct. When you transfer the properties to LLCs, speak to your insurance company/agent to have them make sure that the LLC's name is on the policy. If you have debt on the property, and it is under your personal name, I would leave my personal name on it and just add the LLC to the policy.

@Munjal Adhvaryu

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.

@Andrew McArthur

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.