All Forum Posts by: John Ryan

Seth and J Scott are right on.

It will depend on your area and what are the comps in the area. I just completed my 1st flip and everything in house is basic.Houses in area range between 75K and 150K I used stock cabinets and counter top from HD and well ans vanities in Bathrooms . No granite (LOL) Painted the whole inside and house looked brand new. Made a nice profit

Thanks Brandon and Jon. I look forward to learning so me thing to help me be successful in the Real estate investing field.

But I thought that was the idea of Short sales. Offer the owner to help them and make a profit from it. I do not understand the legal does and don't with that

And if I understand this. I can approach the current owners before it goes to auction and make them an offer?

well when I look at DOC it tells me if it is Foreclose. So that much I can see. and it seems to indicate the original date of loan and amount but, not what is owed to buy or bring it current .

I am trying to understand what this means. I know it is the start of Foreclosure. but, How can I tell what is owed on a property or how much I can buy it for before it goes to into Full foreclosure. I
am looking at Documents from my local clerks office and it tells me the sum of the original load but, not how much is owed to get things current.. Where or how do I find that

Steve,

Thank You for your patience. So it does not give me any tax advantage what state I incorporate in? Also, if I want to write off my Computer, cell phone and gas for vehicles I can do that as a LLC or S corp? Still not sure which is best.. I am staring out as wanting to buy rental stuff but may want to flip and other investment opportunities also so which one makes senses to do. or star as LLC and then I can do a S Corp later?

Isn't there an tax advantage if you incorporate in a state with no state income tax ?

I am just starting out and part oif my plan is to form a corporation. It will consist of me and my wife. What is the difference between a LLC, SCorp and CCorp? Is it just the taxes paid and structure of the corporation. Also, when I file to be a corporation I have read that I do not have to do it in my home state. I could do it say in Nevada or Delaware to take advantage of there pro business tax policies?? is that correct and is it advisable to do that?

Hello! My name in John. I am from Saratoga NY area. Newbie to investing and trying to get the basic building blocks/ knowledge to be successful in real estate. Interested in different ways of investing. Wholesale. flipping etc. I look forward to listening and learning from the forum and making connections.