All Forum Posts by: Jason Deangelis

@Nick Provenzano Thank you for the response. I had a feeling that was the situation. Im open to learning that side of the deal, im just not quite sure where to start and where to allocate money for marketing myself.

Hello BP community! After a year of researching and analyzing deals I am truly excited to start investing in real estate. My question to the community is now where do I focus my intentions. Im looking for mf with cocroi of over 8% and a LTV of 70-75%. Im having a hard time finding higher than 6% on MLS and other public listings. So 1. Am I being unrealistic to find a better deal without hitting the pavement, cold calling, direct marketing or wholesaling a deal? 2. If such deals are out there in IL, MI, or WI then what direction am I pointing my car in the next month? Thanks in advance to everyone and would love to network here!

Thanks Armin.  I didn't account for fraud in my list of concerns.  

@Jeff Piscioniere Thank you for the cautionary advice. Is there a better solution to assure personal protection from both partners in the deal and liability from tenants directed away from personal assets?

@Whitney Hutten Thank you. The separate LLC peaks my interest and I never thought about it. As we are treading lightly considering the markets volatility we want to be without loose ends come time to make offers.

@Filipe Pereira Great information. Love the Ramsey reference. It made me laugh.

@Armin Nazarinia Best way to learn is through experience, right. Thanks for sharing your experience on the issue.

@Craig Sloan Thank you for the info. Its going to help us move forward.

@Kody Thompson thanks. It did. I overheard that Wyoming has the strongest by simply holding your document & anyone pursuant to suing has to go through their line of defense before reaching you locally. Great info.

Hello BP Community.  Coming from the Chicago land area with a question in regards to partnerships. If anyone has some sound advice in ways to approach BRRRR/Buy & Hold investing for two or more members It would be a wealth of knowledge for us at this time. Suggestions to the following:

Do we create an LLC or is there some other form of agreement?

What is the best approach considering we are embarking on deal 1?

What is the typical cost for something legal in this nature to be created?

Where is it best to place the financing of the deal? (a members personal name or LLC)

Thank you in advance and hoping to one day return the favor with sound advice as I grow in this industry!