All Forum Posts by: David Jackson

200k cash, would it be feasible to get 2 properties with 100k down each for rental? Or how would you go about it? SFH only.

Is it beneficial to have an individual trustee vs LLC as a trustee? Or am i missing something. I see some banks using 10+ individual trustee's in the trust, i was wondering why wouldn't they just use an LLC. Can someone please shed some light on it.

Hello everyone,

So i finished the flip and closed the transaction in 2020 while i started the flip in 2019. Now the property is sold, i want to dissolve the LLC.

How should i go about it? Also, how should i report 2019 taxes? Should it be $0 as the flip was in progress OR should it be negative 40k that was spent in 2019 while it was being rehabbed? 

Please advise.

So this is my second time trying to work with King Title, the first time they didnt even bother to reply to my email. This second time, David replied and quoted me the price and now its all silent for few days. I called to see whats going on and secretary of David said he's in a meeting but he said it will take few weeks to file the deed in... i mean few weeks just to deed in a trust? 

I had recommendations to use KingTitle but i guess either he is very busy or he just doesnt care. For me customer service is the key to business. Wanted to know what your experiences are with them?

Guys, any idea which online classes i can sign up to obtain a real estate agent license? TheCEShop? Are there any other better alternatives? Please suggest.

Thanks

Hello,

I am trying to understand land trusts properly, so my question is, Land Trusts are revocable or irrevocable? Also, how they differ from a family trust? Can anyone please shed some light on it?

Thank you!

i got the whole house rehabbed in 7k labor only, now you get the idea :)

So i'm going to start my 1st rehab project, thanks to the BP community, helped a lot! 

Now i contacted few contractors and they already have the insurance, do i still get insurance for them? Or is there any other insurance that i need, please suggest. Thanks in advance!

As the title says, i'm looking for a lawyer who knows about land trusts and can help me set up one. Any recommendations please let me know. Thank you!

Thank you everyone for your valuable input. I've shortlisted most of the things except bathroom standing shower. Anyone can suggest those please? I'm making a list of places and items for least expensive so everyone in maryland can use those =)