All Forum Posts by: Doug Van Liew

Programs like Appfolio definitely makes life easier especially when collecting rent and taking properties on and off the market. Everyone gets access to a portal and maintenance requests are sent digitally. I don’t use every feature, but it definitely frees up time for doing more money making tasks!

Any competent title company will do a wholesale closing. Like Patti mentioned, the act of wholesaling isn't illegal, but sometimes it's attempted in an illegal manner. Be educated on the terms and contracts. Joining a local investor group will be of high value for you.

HOT NEW LISTING! Fully rehabbed duplex in Norfolk, VA ready for an owner occupant or investor!

http://www.dougsva.com/listing/10113880-5946-chesa...

That's truly awesome and similar to the hopeful goal for my daughter! I'm all for her going to college, but I want it to be a choice and for her to know how to generate income without the need for higher education just to get a "job" and be in debt that can easily be avoided. Great work!!

R&W cabinets

Kevin Stewart. Known him for a while and is very familiar with real estate investing. http://www.stewartaccounting.com/

Both options are just as good as the other in my opinion. They both have pros and cons which can be discussed for days. We have a place in cape cod that we do abnb which works well for us and I'm out of state. There's a lot of great tips online for making it easier for you and your guests to enjoy the experience. You can always give it a shot and see how it goes then go the conventional route if you see fit.

If there's truly that much equity, it should be pretty easy to refinance. You could sell at a discounted price and still net a healthy chunk of change as well which is a lot better than a foreclosure.

Each property is generally put into a subsidiary entity under my main company. Having profits to show helps gain business lines of credit and other benefits of owning a business. If it's a property that's a long term hold like a good producing multifamily then a trust or another set up is sometimes a wiser choice if I want it to go towards something specific like retirement or a fund for a family member. Proper insurance is to be acquired and I recommend using a local broker that knows their stuff. I agree with those that mentioned an LLC is not a replacement for insurance. The legal system is crafty, so if there's an insurance policy for someone to go after, I'd rather that than try going after me personally.

In real estate without a ratified contract all options are on the table. A verbal agreement isn't a deal. It the same concept of a seller saying they are going to list with me in the spring, then listing with someone else or not listing at all for what ever reason. No listing agreement, no listing. There are frequently deal stoppers in this industry whether it be attorney, family member, neighbor, agent, coworker etc. Take it at face value and move to the next.