All Forum Posts by: Jose Diaz

@Sid Smith Welcome to the BP community. There is a ton of information here. Take your time reading at the starter information.

Earlier today on LinkedIn I came across a posting from a company that provides business lines of credit up to $150K in unsecured business credit, 0% interest for 6-12 months, no income verification and no credit reporting. They are stated in their FAQ section that even businesses that have been established for less than 2 years can still qualify for up to $75K. Sounds interesting. Tomorrow I will be calling them to gain further information. The website is: www.fundinganllc.com

Tell me what you think.

@Nii Okai Tomorrow I am going to register my wife and myself for our first REIA meeting here in Miami, FL.

@David Rundle Most of this RE is new to me, so I am gaining basic understanding as I go. Before I jump into something, I would like to have a decent understanding of it. The ARV is not scary I am sure, however since its unknown to me, I want to understand it. For a very long time in my life I did things without fully understanding what I was doing, what it meant. I made a promise to myself to commit to understanding this new venture as fully as possible. Hopefully, at my first REIA I can meet a genuine mentor and go from there. Don't know how many of those "genuine" mentors exist in Miami. I do appreciate your comment and you are right.

@Mike Hurney So far the consensus is to wait for the deal flow to begin then think about incorporating. Just like you mention, I will be meeting an attorney in the coming days about this. Maybe I am planning to far in the future without even having done a deal yet, however there is nothing wrong with considering options at the start.

@Curt Smith Thank you for a great explanation. I just like @Ann B. am in the process of understanding business structures. I have never done anything like this before, however I have heard of many benefits to working within a corporation. Anything else you can tell me would be appreciated.

Would love to hear opinions from others.

@Derek T. Thanks for the taking the time to describe everything. It has been helpful. I will slowly start pricing things out.

Thanks to everyone else also.

@Chavel Diaz Jr What I was asking about your business card is the description as to what you do. How did you explain that on the business card?

@Amanda Sutherlin Thank you for the response. Where are you getting the umbrella insurance suggested to you?

@Ann B. Thanks for clarification. At least we can ask permission and avoid a bigger issue.

Christopher- I haven't thought about how much I could spend during a 6 month span. At the moment there is no way I can start with $1k.

Wayne- The way that you began sounds reasonable for me at the moment, then scale up as you did.

Is there a specific type of marketing you all prefer?

David, when you say my area, do you mean zipcode or the nearest surrounding zipcodes? I definitely want to be ethical.

Also,

Bryan- when you find a lead on the MLS, what is your next step? Do you reach out to the listing agent and or other routes etc?

Christopher- No disrespect taken. I am here to learn and think accurately and efficiently. I appreciate your feedback. I am learning to set a budget for myself because honestly at this moment I need to be efficient with my income. What was your goal starting out?

Yes, wholesaling.

Right now I would be fine with 1 deal every 2 months. Ultimate goal 2-3 a month seems reasonable. To me Miami is huge, so I need refine my search area.