All Forum Posts by: Account Closed

That's very cool. Did you know, or have a good feeling, going into this that there would be such a high demand (i.e. multiple offers) immediately? If not what were your exit strategies? Did you build contingencies into the contract of the first transaction (A to B)?

Another question regarding your direct mailing - did you do a shotgun mailing or did you target this property? I assume it was a shotgun approach because you said direct mailing... but maybe you were using the word in the literal sense (i.e. targeted mailing).

Congrats. :clap: Reading about this deal is very motivating.

I have a couple questions for you:
1) Would you mind breaking down the $18k in closing costs and Realtor fees?
2) Since your end buyer was an owner/occupant how did you line them up before you started the short sale process?

Thanks

Absolutely - also for the obvious privacy reasons. Luckily I have a UPS store about a 2 minute drive from the house.

Thanks for the replies. I did contact the local zoning & planning office and they said I'm good to go. Basically they will allow a home business if the majority of what you are doing is "making calls and using email" - as the individual I spoke to put it. He expanded on that to say that, as Craig mentioned, I'm good as long as I don't have employees who are also working in my home and that I don't have customers/clients coming by the home office.

I'm looking to take a poll on your work/office space. Let me give you a quick background on my thoughts, desires and needs and then ask about your set-up:

I'm planning on setting up an LLC and working my way from bird dogging to wholesaling and eventually rehabbing. I live in an historic neighborhood and I would be SHOCKED if the city allowed me to have a home business at my address. From what I have researched there are very few exceptions to what types of business can be run out of private homes. On top of that our townhouse is on the smaller side and thus we are very limited on space inside the house.

Part of my long term plan - the rehabbing part - is to buy building supplies in bulk so at some point I will need some type of storage. I'm not talking about stocking up on lumber and therefore needing a ton of space but rather items like doorknobs, bathroom fixtures, appliances, etc.

My questions to BP members:

- Do you have a home office or seperate office space? What do you like and dislike about your set-up?
- If you have an offsite office would you mind describing it a bit? For example, are you in a traditional office setting (office condo, for example) or an industrial park or something completely different?
- If you have a home office are you at all concerned with the liability of the business being at home?

Thank you for sharing your insight and stories.

For those BP members who own their own businesses I was wondering how you pay for your vehicle usage when doing business. If you fall into one of the following categories feel free to just state which one but for those that do not I would appreciate more details as to your particular case.

A) private vehicle that is expensed to the business at the prevailing IRS rate for mileage/wear and tear
B) private vehicle that is expensed to the business at a regular, monthly rate (i.e. $300 for fuel and $300 for vehicle payment)
C) company owns the vehicle and thus gas and wear and tear is paid directly by the company
D) none of the above

Thanks!