All Forum Posts by: Dana Blankinship

You wouldn't need an LLC for any deal, it offers you protection,amenity,tax shelter,etc....

In my opinion before investing in a Real Estate attorney, I would tell you to study more,

I'm no way affiliated with Clever Investor or Cody, however I have read, watched studied many aspects and I found there course/plan the best.

Keep me posted.

Dana

Nick,

On the properties you plan to wholesale are you doing a double close or simply selling a contract?

I'm not in Iowa so I haven't studied their State specifics but a broker or agent would be licensed in your state, a wholesaler would not be. As a wholesaler your just selling a contract not the property.

Big No No? Have you set up a LLC for yourself? Running all transactions through there? I would look at that if you haven't.

What courses did you go through?

Dana

Well after pretty much giving him a 24 hour notice every day to go out and do something on the property he left a week ago, we went in this past weekend filled a 40 yard dumpster with crap, had a huge fire(yes I had a burn permit) opened all the windows, put in a ozinator and currently cleaning.

Learned a lot in 2 weeks, biggest thing how to file an eviction notice myself for under $100.

Have a tenant moving in the 1st...

Well I made it out, ended up having to get a sheriffs escort, property not to bad, "hobby" room in basement. says he will sign a vacate property contract if I give him to the end of the month. Still havent offered any cash as of yet, this is the very short story.Ill tell a bit more later once I get everything signed.

Well I chatted with the gentleman to let him know how the cow ate the cabbage after serving the 3 day notice and 24 hour to enter notice and he was much more receptive, he apologized for his attitude on our previous conversation, I again reiterated I'm willing to assist him if he wants assistance and he agreed to let me come in as long as i was alone to inspect the property from top to bottom and asked for a little more time to vacate, I told him we would chat today Saturday at 10am, I also told him Ive seen it all and as long as he doesn't have people or dogs locked up in the basement Ill keep it confidential. I also let him know there would be contractors starting shortly so be prepared. I looked around the property and to my surprise not to bad, its a half acre and it is surrounded mostly by a privacy fence and the yard looked about perfect. I also have all my eviction papers ready to be filed just to be on the safe side...Ill keep you updated. Oh and if I don't check back in the next 48 hours I'm probably locked in the basement...

Dana

Well I went there tonight, not quite sure what is going on but lets just say I believe the guy has a mighty green thumb, definitely doesn't want me in the house, he stated he would burn the place down before he lets anyone in...well I called the sheriff for his and my safety to have it checked out and let him know I would be back Saturday to inspect the property... Ill keep you updated

Ill be going there Wednesday or Thursday once I close, Ill make sure I post what happens.

Will do Ryan, I planned on that as a witness anyway, Ill let you all know how it goes.

I also know Mahoneys in Columbus and Omaha.

Thanks John,

I completely understand on the monies exchange portion, Ill have someone in the house pretty much the moment they move out so it will be secure.

Hopefully they will be civil as me and just vacate with a little moving help and a little cash.

I close on a distressed property on April 6 2018 (5 days from now), it is in Nebraska, the current owner has had a buddy living there rent free, no lease, no contracts for 3 years... he wants nothing to do with evicting the person and I purchased the property without ever going inside the unit...I did purchase the property in my LLC name, in cash and below what the land value is assessed at.I live within 10 miles of the property and have driven by multiple times.

Ive never seen any movement, there are no cars there however there is a porch light on and another light on in the house which has never been turned off when I drive by. 

I plan to let the person know in the next couple days via letter and face to face I will be purchasing the property and they need to vacate.

I plan to give 2 options:

Cash for keys and Ill help them move. ( I don't want to just throw someone out with no place to go)

or option 2 the sheriff will evict you and you get no help from me...

Any advice from anyone or anyone who has went down this road?

Thanks in advance,

Dana