All Forum Posts by: D'Andre Brumfield

Hello,

I am looking for a real estate friendly CPA located in the Dallas, TX metroplex. Any suggestions are greatly appreciated!

 You know, I have thought about this as well and began planting seeds not too long ago. But you are exactly right. Thank you

Hello everyone,

I have been doing a lot of deal search/analysis for the past few weeks and just have been unsure on which lead generation method would work for my current situation. I travel for work and I am never near my target market. I have boots on the ground there with a contractor, but I don't want to always place this burden on them to find me deals in the area (he is a very close friend). 

I have looked at cites like prop wire, deal machine, prop stream, etc. but am just unsure as to which engine provides the most accurate information. The prices of these cites vary significantly so before I rack up my tab on subscriptions, I wanted to see if anyone in the BP community had any suggestions/advice on how they would tackle finding deals while living in another state.

Thanks in advance!

@KC Pake

Thank you for the swift and in depth response. We are not looking to make the property a primary residence for any member due to certain personal constraints. From the sounds of it, sourcing out more information regarding portfolio lending and investment property loans is our best option.

Will also keep in mind the comments regarding our meeting with the cpa. Very insightful and much appreciated. Thanks again!

Hello all,

I am developing a partnership with 3 other people who I know and trust well. We are looking to fix and flip our first 2-3 deals and use the profits to scale up towards buy and hold strategies. This will be the first deal for each party involved but we all have history in construction, remodeling and project management. We are currently discussing financial options for acquisition. We have a potential private money lender to fund our first deal and would most likely set up an LLC for this instance, but nothing has been set in stone.

In the case where this private money lender retracts their help, what options do we have in terms of credit union/conventional loan financing? We do realize that an LLC may not be an option in reference to conventional loan packages. We are actively sourcing CPA's/Tax advisors for legal advice and I was wondering if anyone in the BP community had any other suggestions or even questions that we may need to bring up during the advising meeting.

@Caroline Gerardo housing allowance is not guaranteed for 3 years. Dependent upon budget for the project but I’ve thought about negotiating terms with my employer. We move state to state renovating commercial buildings.

Hello all,

I am brainstorming for my current career situation. Is it possible to hold primary residence in one state, while working for majority of the year in another state. Was wondering if anyone had any advice/answers regarding if it is possible to utilize a fha loan (first time home buyer) in this instance. I work for a traveling construction company and I love my job and would like to stay in it for the next 5 years. The pay is great, housing is provided along with per diem. But also would like to figure out a way to begin investing in real estate while I am traveling for work.

Any suggestions are greatly appreciated. Thank you!

I have been in contact with someone who is a close friend of mine who has agreed to help me get started in RE fixing and flipping. Long story short, I would be giving them a percentage, (25-50%), of the down payment of the home. Once the home has been renovated and sold, I would then receive the same percentage of the profit. Is this strategy typical in RE? -(sounds a little too good to be true) - Should I think about creating an LLC/S Corp if basically all I would be doing is putting up money for deals and taking percentage of the profits?