All Forum Posts by: Jason Phung
Jason Phung has started 2 posts and replied 6 times.
Post: Finding leads / wholesaler contacts
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Thank you everybody for the insight
@Emily Valenzuela thank you! also great advice on the marketing lists, I'll discuss with my partner as I know he does quite a bit of door knocking for his own business.
Post: Finding leads / wholesaler contacts
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Hey,
I've been working to find a first deal with a partner and we're interested in a fix n flip strategy here in the Boston area. My partner is a successful agent that primarily focuses on finding homes for families, and is also new to the investing aspect of real estate.
I'm hoping to find leads that we can sort through off of the MLS, but not sure where to start. Any advice on how to connect with wholesalers as an investor with no experience? or are there any wholesalers in the Boston (south shore) area that would be willing to chat?
Open to any advice and suggestions about finding leads in this market
Thanks,
Jason
Post: New to REI - Looking to start out of state
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Quote from @Ned Carey:
@Michael Arceo generally you should have an LLC in the state where the property is located. Most if not all states require that a foreign (out of state) company register in the state to do business there.
I have foreclosed on owners that didn't even know they lost their property because they hadn't registered their company in Maryland.
A serious question is why out of state. It will increase both your risk and cost. People who know their market the best tend to get the best deals. It is easier to learn a nearby market.
Would you recommend a new investor who lives in a market that is too expensive for them? I'm in the Boston, MA area and have been interested in an out of state investment, but decided that learning would be easier with my first property in a local market. Prices here are pretty high and finding a deal that will provide any type of cashflow is challenging for somebody just starting out.
Post: New to Real Estate and excited to learn
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Post: New to Real Estate and excited to learn
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Quote from @E.J. McCaffrey:
Welcome to the group!
Regardless of the type of investing you focus on, two critical, but often overlooked, pillars for long-term success are tax planning and asset protection. While it’s easy to get caught up in sourcing and closing deals, neglecting these areas can jeopardize your financial growth and security.
A well-crafted tax strategy enables you to maximize deductions, take advantage of beneficial tax structures, and retain more of your earnings. Proactive tax planning can lower your overall tax burden, giving you greater flexibility to reinvest and expand your portfolio efficiently.
Equally important is protecting the wealth you’re diligently building. Investing, whether in real estate or other ventures, comes with risks such as lawsuits or creditor claims. Without proper legal safeguards, both your personal and business assets may be at risk. Implementing a robust asset protection plan helps you mitigate these risks, shield your assets, and maintain resilience against financial or legal challenges.
To establish a solid foundation in these areas, it’s crucial to collaborate with experienced professionals. Look for a tax advisor knowledgeable in real estate and an asset protection attorney who understands your long-term goals. Building these relationships early on can help you avoid costly errors and provide peace of mind as your investments grow.
Wishing you great success on your investing journey!
Disclaimer: This message is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No professional relationship is formed through this communication. Please consult qualified professionals for advice tailored to your specific situation.
Post: New to Real Estate and excited to learn
- New to Real Estate
- Boston, MA
- Posts 6
- Votes 3
Hey everyone,
I'm located in the South Shore and have been looking to break into the world of real estate investing. I'm really interested in meeting some people that have found success in today's market. It's been a bit overwhelming trying to analyze local markets and understand what strategies might fit. Any experienced investors in the South Shore that have found deals that will cashflow in these markets? I'd love to chat about creative financing options, sweat equity used to source an off-market deal, or any other tips / advice on finding an investment opportunity in the area, regardless of the strategy. Would love to chat or meet up with someone willing to share their experiences!
Jason