All Forum Posts by: Shawn Holsapple

 Is anyone attending the Scale and Escape Summit in Glendale May 18-20?

I'll be arriving on the 17th, mid morning, at the Renaissance Phoenix Glendale Hotel & Spa and would love to meetup with some advanced like minded investors.

Welcome to BP @Aaron Clements & @Mduduzi Matshazi!

I hope to see you at the CIREIA & INREIA meetings soon.

- it's always good to see another Hoosier utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Flip2freedom episode 77http://www.flip2freedom.com/a-3-step-formula-to-a-... - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast -I hear #136 is exceptional!

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel

 I used a 0% balance transfer from a credit card to buy my first property - just a thought.

Of course, the BRRRR strategy is the best way to go if possible - then you won't have to worry about a down payment - IMHO

@Thomas Landis that FB link doesn't seem to work.

 Yes & Yes.

You should check out: "Start Your Own Corporation" by Garrett Sutton [Rich Dad Adviser].

Plus, here's some more great books to help you get doing down the right path:

Flip2freedom episode 77http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/ - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

I had a LLC before I bought my first property and am a firm believer of asset protection via this type of entity. I would suggest finding a local attorney that is VERY fluent in real estate law along with corporate structuring. Preferably a landlord as well.

Yes, one can setup an LLC online for under $100 but there a few check boxes that are critical to be selected correctly and I always recommend paying the professionals to handle sensitive items like this.

I would also suggest you have the attorney listed as the registered agent of your entity so your name doesn't show up on any public records. Most will do this for free if you use them to setup the LLC to begin with.

You also need a Rock Star CPA [not a family friend that's been doing basic W-2 taxes for 40 years!] but one that knows this stuff inside and out.  You don't have to stay local for this, mine is out of State and it works fine.

Of course, this is just my humble opinion and I'm not an attorney or CPA - be sure to do your own due diligence in these matters.

All good points above - yes, you must get everything in writing to protect yourself!

With that said, however, it sounds like it's a full rehab anyway and you'll be tearing out some/most of the walls - which would remove the mold anyway?

He needs to talk to a commercial lender at a local State Bank or Credit Union.

Since he's not going to live there, it will be considered a commercial [non owner occupied] loan.

If he has 2 years of solid tax returns and a good score - he should have success at the above mentioned lenders.

Welcome to BP @Yan Linwood!

- it's always good to see another you investor utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Flip2freedom episode 77http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/ - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast -I hear #136 is exceptional!

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel

Welcome to Indy @Justin Young!

I've worked with several groups and individuals from your area and will be glad to help you out any way I can.