All Forum Posts by: Jason Thompson

@John Zajac Thank you 

Hello, I need some help, please; I live in Canada and am virtually wholesaling in Houston, Texas. Based on my research for a business like wholesaling, an LLC would be best; it has been brought to my attention that if I were to register an LLC, I would be paying double tax to IRS and CRA. Does anyone know the best approach to set up my business for maximum protection and minimal taxes, please?

I want to introduce myself. My name is Jason Thompson. I built a CRM to find off-market, Low-rise, walk-up garden-style apartments.

Deal Size: $5,000,000 - $15,000,000

Deal Size: 75 units - 200 units

Location: Houston, Texas MSA

Location Class: C to B+

Value-Add Strategy: Value Add assets with deferred maintenance, underperforming the market on rent, occupancy, and/or expense ratio, require light to medium renovations.

I want to learn more about your buy box and investment criteria to see if there is a way to work together on a deal.

Let me know if this is something you are interested in. I would be happy to jump on a call to discuss this. Thanks!

Purchase price  $215,000

3 bed to 2 bath

1756 sqft 

built in 1977 

closing May 22, 2023

Highlands Texas

Message me for details

@Erik D. I agree with everyone if you have been asked to put up EMD from a syndication company, the credibility for that company is totally gone. Run as fast as you can, if they can't pay EMD they shouldn't be doing the deal plain and simple.

@Sean Cole Wholesaling in the US is much easier than in Canada; try Batchleads or batch dialer and contact as many people as you can daily. @Jordan Franks , in the US, it's an earnest money deposit; you send the funds to a title closing company, which is the equivalent of a Canadian down payment at a lawyer's office or real estate brokerage. I hope this helps; guys feel free to contact me any time if I can help; I live in NS and am virtually wholesale in the US. 

@Ahmed Habib wholesaling works or there wouldn't be so many people doing it; I agree with some of the others; you need to approach sellers with a 'problem-solving' mentality; if you focus on helping the seller with their needs, you will have much better success. You can message me if you would like to discuss your strategies and how to get going—all the best, and much success Ahmed. 

@James Gee What are your investment goals for 2023 and how can I help you?

@Shawn Carrie Sounds like you're ahead of the herd my friend, networking is key, attend some local REI group meetings, call around to mortgage "brokers" get to know them let them know your business plan, hit up local community banks, type "hard money lenders (your city)" in a web search and call them for bridge loans etc. I hope this helps Shawn.

@James Gee Hey James, you could start contacting syndication companies and ask how you can help them, and volunteer for some experience. Underwriting is a big one that most syndications require, so educating yourself on financial modelling would be advisable. I hope this helps James.