All Forum Posts by: Javi Chipi

I think you need to ask for a W-8 BEN-E from the international entity or perhaps another form (W-BEN possibly W-9 depending on the facts). If they are willing to provide these documents or perhaps a copy of a passport they may be serious. If they have an international attorney they may be serious. More due diligence is needed but that is a start.

Seems like a lot of the deal math does not make sense in Broward county FL. For instance there are many homes selling for 300k but only renting for 2300 (fails 1% test). I hear the podcasts saying to do direct mail and look for motivated sellers. Just curious what other people's experiences have been in this market or a similar market and whether anyone has had more luck with auctions in So Fla. Thanks

I might be late to this post, but I'm down.

Hi and welcome.

I have listened to several podcasts and it seems everyone is always doing direct mail and looking for motivated sellers more so than trying to buy properties at auction. I live in FL where there are many foreclosed properties. Does anyone have experience trying to buy properties at auction here? Is it just too difficult to compete with the banks or too risky because you can't go in the properties or too risky because of liens? Just trying to gauge why (at least on podcast no one really talking about that).

Hi Michael, I work with a CPA in Miami that specializes in international tax. Because it is Miami he deals with the issues you are speaking of regularly. His name is Jose Fernandez. I tried posting his number on here but the "marketing rules" prevented me from doing so. Please message me if you still need the referral. I am also a CPA but international tax is really a speciality area which is why I am referring you to him. Feel free to reach out if you need anything. I am new to the BP community but everyone seems very helpful here.

Great reply Logan. I see a lot of people using 80 20 and not getting audited but that doesn't mean it is correct. It is common though very common. I would not go by the property website either because it is generally too much land allocated. Just try and be reasonable

I think the revocable trust is superior to the will. You don't want to have a probate court trying to figure out what to do with you business interest or rental properties. You just QCD or assign interests to your rev trust and your done. Speak with your attorney about these matters and make your CPA aware of how things are titled.

It sounds like you have an idea of what you are doing...I say try it out once and see how it goes. Most likely you will be so cautious about everything it will go well.

How do you find the probate properties ?