All Forum Posts by: Devin Scott

@Angelo Rumora

Wow, that was some great motivation! Keep it up! 

I like David Bach, Automatic Millionaire-Homeowner Edition

@Dwayne Wheeler

Hello Dwayne, 

Best suggestion, that I just learned is use the BP calculator. For years, I was not calculating vacancy, or Cap expenses when calculating cash flow. Big eye opener. 

@Tom Harrington

There are two main advantages an LLC has over anS-corporation.

One advantage is that an LLC is governed by a private Operating Agreement that affords the company a tremendous amount of flexibility, whereas an S-corporation is governed by statutes and bylaws that limit the flexibility the company has with respect to management, profit distributions, meetings and more.

The other main advantage is that an LLC is allowed to have international and entity investors, whereas the shareholders of S-corporations must be U.S. residents or resident aliens. This provides LLCs with greater conduits for investment, as well as greater flexibility for multiple-entity strategies. When it comes to LLC vs S-corp, LLC wins.

For more information https://www.delawareinc.com/    I cut and pasted that information from there.   Hope that helps you. 

@Danielle Hammond

If he states he is certified by Georgia Gov, maybe you can confirm that from their website or maybe give them a call?

Or maybe ask him for a list of references of other investors he has helped? 

@Roger Laughary

Great Job! Can we see some more details on the numbers that worked out the $300 cash flow? 

Welcome to BP @Brian Nobles   Listen to the podcasts. Great place to start. 

Thank you Sir. I will know to pay more attention from now on. haha

I just wanted to share this so it would not happen to anyone else. I have an upcoming settlement where I will be bringing cash to the table. I have been emailing back and forth with the attorney who is setting up settlement. 

The emails started to get weird. She stated that I cannot bring a certified check but I need to send a wire. She also stated the wire instructions have changed and that I need to send the wire right away. I asked for a HUD. She said it is not ready yet. I asked for a settlement date and time. Not ready yet. But still need the wire right away. The amount needed was $21,000.

I went to send the wire anyway trying to be aggressive and get the deal done. I went online and my bank wouldnt let me send online. I called the bank and they said I needed to initiate the wire in person. I emailed back "the attorney" and said that I will send the wire when I get off at 5. She said no, please send before 5 so we can have the confirmation and get a settlement date. 

I noticed a red flag when her grammar was off, and punctuation was a little weird. 

But then I noticed that in the back and forth of the emails, the email address kept changing, but only slightly. maybe one letter different. I scrolled back to the original emails that I got from the real attorney.  To try to shorten this story, someone got into either my emails or her emails, got her name, her company signature, and created an email address that was one letter different than hers. I would never have noticed if they were not so aggressive about sending the wire. I called the real attorney to confirm and she confirmed it is a scam. I was that close to losing $21,000. 

Great information everyone. This is the best place for info. I will go get Quickbooks.