All Forum Posts by: Charles Carillo

@Marija Sparano

We work with another SDIRA company. They are who we recommend to our investors. DM me and I can put you in touch with our contact there.

@Richard Prillerman

I would figure out their specific goals and requirements. There are a number of ways of being involved in real estate investing; private lending, notes, flips, long-term rentals, commercial, etc. It depends on what returns they need, the amount of time they want to spend managing the investments and how fast they want their initial capital back. Once you have this information you can assist them by narrowing down potential investment strategies. 

@Tecoy Mondesire

The first step is building your team; real estate brokers, attorney, lenders, property manager, contractors, accountant etc. Secondly I would perform a self-evaluation to determine the properties you can purchase by evaluating your available funds, credit etc. If you are lacking in one area, you are going to need to partner. Next I would start narrowing down the markets you want to focus on and the specific neighborhoods within them. The more specific you can be on the properties you are targeting, the more professional you will come off with real estate agents. 

@Luke Tran

You can use a LLC for your partnership. I would figure out the roles and responsibilities of each partner and then contact an attorney to have them structure the partnership and assist with the operating agreement.

@Lela Chavis

There are financing options for foreign national and expats that partners of ours have used before but they normally require sizeable down payments (30%-35%). DM me if you have specific questions.

@Frank Hinck

Not sure about "many states" but for example in Florida; you are required to have a license if you are:

"
(a) Representing to the public, through advertising or other means of
communicating or providing information (including the use of business
cards, stationery, brochures, signs, rate lists, or promotional items),
by any medium whatsoever, that such individual can or will perform the
activities described in F.S. 494.001(23).

(d) Advertising, soliciting, or conducting business through use of a
name, trademark, service mark, trade name, Internet address, or logo
which indicates or reasonably implies that the business being
advertised, solicited, or conducted is the kind or character of business
transacted or conducted by a licensed mortgage lender or which is
likely to lead any person to believe that such business is that of a
licensed mortgage lender.

"

As I mentioned earlier, I would speak to an attorney first that specializes in this law.

@Terry A.

When comparing management companies you really need to compare all of their fees because they can differ greatly. Yes the percentage is what people first look at but also what are they charging for new leases and renewals? What is the hourly rate for the handyman that will be working on your units? This will give you a more apples to apples comparison. In regards to late fees and security deposits; I have seen companies keep it in their accounts or they will leave it in your account. It is great that you are getting these questions answered before making a decision. Most people would not dig this deep.

@Frank Hinck

In certain states you are not required to be licensed if you do not advertise. A business card is considered advertising so in those states you really need to have a personal relationship with the investor which is not that hard if you are a networker. I would search out an attorney in your state that works with private lenders and pay them for a couple hours of time to see how you can become a lender and navigate the laws.

@Jeremy Blevins

I would try voter records.

@Jatsons Mateo

I would inquire with a local hard money lender as well to see what financing they will offer.