All Forum Posts by: Darrell Bratton

@Engelo Rumora You said,

Find a small tertiary market and roll your sleeves up

I agree 100% I live in DC and I am deploying my DC money in Alabama and Vermont, where it will go farther than it will in DC.

Darrell

@Engelo Rumora Thank you for responding to me. I am inspired by your story and other podcast. I have only known about BP for 6 months or less and I have bought a property and now I am buying land and the property (a duplex) will cash flow enough to pay for the land. After that, I will save up my money to buy ore rental property. I have a long range plan.

I only have the BP podcasts to thank for that. I am up to 5 doors so I am still a newbie, but I am taking action.

You are awesome.

Darrell

@Josh Lyons I used it and it worked fine. I will be going Pro on BP soon. Going Pro gives you unlimited use of the calculators here. I used it on my first deal and it was pretty accurate on my cashflow. I took the print out to the bank and showed them that I was professional and knew that it was a good deal. I hope this helps.

@Benny Gelbendorf Listen to the BP Podcasts. I am up to show 130. I am learning a ton. Engelo Rumora, has an awesome podcast on Show 89. 

I am seeing properties start to stay on the market longer in the Maryland area that is close to Washington DC. Find out from Engelo if this is happening in Ohio. If it is, you may want to wait and learn through the forums and podcasts.

Darrell

@Jose Vazquez You sound like you have a strong support network. I have been depending on my Higher Power for 31 years now. Do not hesitate to reach out if you need encouragement.

Darrell

Yes your method was good but you will want to use a rental property calculator. On BP they have one but until you are a pro member (which I am going to become soon), you can only use it 5 times. There are other ones out there. I used one on my first deal after learning of BP and the cash flow is pretty close. There are so many other expenses to take into account but your quick and dirty method kept you out of a mess. I have learned from the podcasts that you make your money going in and looking to see where you can add value. Listen to the Podcasts show 131 by Serge Shukhat 

https://www.biggerpockets.com/renewsblog/2015/07/1...

I hope this helps,

Darrell

@Chris Seveney I found Orion financial and I will contact them tomorrow. You and Bigger Pockets are Awesome.

Darrell

@Chris Seveney Thank you but what is Orion / metasource and how do I contact them? I am just transferring a deed into an LLC.

Thank you again,

Darrell

@Russell Brazil Thank you for answering my newbie question. 

Is this a closing fee for transferring the deed to an LLC? Do you know a real estate attorney in our area that has transferred properties to an LLC?

I live in Maryland and have a Maryland LLC. I am looking to transfer my deed into the LLC and have contacted a lawyer about it. I am not sure if his costs are high so I would like to get a second or third opinion on the cost of putting a property in my LLC. Additionally, I have a property in Alabama the I want to put in my Maryland LLC.

Do you have a lawyer that you have used who has experience with this?

Darrell