All Forum Posts by: Jeff Fairchild

What about the people who are wholesalers and all they do is flip property and dont want any long term rentals?

Allcash, you say "I'm not sure where this idea of "getting hit hard" with taxes comes from." If you wholesale 1 house per week and make $400,000 per year wholesaling and are having to pay 40% income tax and 15% dealer tax and have to pay more than $200,000 tax, then that would be considered getting hit hard. So what am I not understanding?

I heard recently that it would be best for wholesalers to use a corporation. Is that the best legal entity? If so, how much does that save on taxes? Is there still a dealer issue?

Is there any other way to not be considered a dealer if most of what you are doing is wholesaling?

What do you guys think of this article? I think it's pretty scary:
http://www.johntreed.com/dueonsale.html

I'm thinking about buying Wendy Patton's course. Anyone recommend it?

I completely agree with the issues already brought up. Here are my primary concerns trying to start out.

I dont want to have to buy 20 different books/courses to get all of the info I need. I want to have it all in one course.

I want the course to have at least 20 pages of frequently asked questions by people just starting out.

I'm afraid that when I order the course the "forms" that they will give me will not apply to my state.

I don't know how to add weasel clauses to a regular contract for my state. I would like the course to contain all of the regular weasle clauses that should be on there, and the course to contain a copy for every state, so I can be sure that I can just use it.

I want every form that I will ever need included, for regular purchses, lease optioning, subject 2's, rentals, title co. forms, recording forms, all of them.

I want to be able to email questions about the course or other things that were not in the course to the author.

I want audio recordings of you on the phone with 20 different sellers prequalifying deals.

I want audio recordings of 20 different discussions that you have at people's houses negotiating the contract.

I want to be told exactly what I should be thinking and doing at every step along the way, maginified in detail 5 times as every other book out there.

I want scripts at every step of the way. I dont want you to say "go talk to the title company" i want to know exactly what to say to them.

I want direct mail scripts. I want to know the exact words on your classified ad, your bandit signs, and every other piece of marketing you have.

I want to know anything you do better than any other investor and how you do it in detail.

I want to know the best way to find private money and what to say to people and who to say it to.

I want to know what to say to buyers of wholesale deals and how to negotiate the best profit for me wholesaling.

I want you to include a blank 10x10 table of squares and a pen and i want you to tell me to write the page numbers of every page where I have a question. I want you to tel me to circle the section where I have a question. I want you to tell me to email you my question that I have circled.

I want all of this for no more than $197, or I would pay $1,000 if I didn't have to pay till I made money off my first deal.

I emailed armando a question a few months ago and without answering my email at all, he trashed it, then added me to his emailing list! I am still getting unwanted emails to this day and can't figure out how to get off the list.

I also definitely recommend this book. It is the sole reason for me knowing that my future strategy is going to be to buy as many quads as possible before moving on to apartment buildings.

FLIP: How to Find, Fix, and Sell Houses for Profit by Rick Villani, Clay Davis, and Gary Keller

Flipping Properties: Generate Instant Cash Profits in Real Estate by William Bronchick

Find It, Fix It, Flip It!: Make Millions in Real Estate--One House at a Time by Michael Corbett

Are You Dumb Enough to Be Rich? The Amazingly Simple Way to Make Millions in Real Estate

The Weekend Millionaire's Secrets to Investing in Real Estate: How to Become Wealthy in Your Spare Time

Buy Low, Rent Smart, Sell High

The Real Estate Fast Track: How to Create a $5,000 to $50,000 Per Month Real Estate Cash Flow

Landlording on Auto-Pilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches

Buying Real Estate Without Cash or Credit

Buying Real Estate Without Cash or Credit by Peter Conti and David Finkel

Does your brother make more selling air purifiers than you?
If not why don't you tell him that he's the one who needs to start doing what you are doing, not the other way around. How much would he make if he worked as hard in this business?

I think most likey it would be worth purchasing. It seems he really deals a lot with efficiency maybe moreso than other experts. So if you are looking to fine tune what you're doing and do more deals in the same amount of time, I'd get it. (And I will myself when I have enough money heh)