All Forum Posts by: Jeff Robert

Hey Joshel, welcome.

I think a "vote" would be equivalent to a facebook "Like", with a bit more seriousness involved.

Skype and Google Hangouts are what all the professional video podcasters still use, so i'd stick with that for videoconferencing.    Use Slack for group communication.   For getting old documents into digital form, I love ScannerPro for the iPhone, snap a photo and it converts it to PDF and uploads it to the cloud service of choice, which you can then share with your group.  If you want further details on any of these, I can elaborate in a followup post.

Can anyone help out to explain a feature on the hudhomestore.com website.  There is an alert option that states "Alert me when property moves into the following period:"   

• Lottery
• Exclusive
• Extended
• Dollar

Does anyone have experience in what these statuses mean, and/or how can I can best strategize with them?

One of the best communities I've seen.  

They'll talk to anyone that will give them the best deal, the problem truly will be finding out who to talk to. Hit the phones hard and good luck.

Depends on the cities motivation and even what value they can get out of selling it. There are houses in Detroit that have back taxes that are decades past due.

Addresses are entirely controlled by the post office, it has no relation to a taxable property. I've owned single parcels with two mailing addresses on the property as well as multiple parcels that shared a single address.

I'm assuming you hold the license in your personal name.   

• Form an LLC in which to buy and hold and manage the properties.
• Find a partner to which you'd be willing to give as little as 0.1% of the LLC ownership.
• File for a EIN (partnership equivalent of a SSN) with the IRS (a 2+ partner LLC is required for this).
• Make yourself a passive member of that LLC, the other partner the managing member.
• File a 1065 Partnership tax return with the IRS with the EIN, containing all your LLCs rental activity.
• The rental income will pass through as passive income via a K-1 to your personal return.  
• Your personal real estate license and name will continue to act as the agent with standard taxable income from sales commission only.
• I'm not a CPA or attorney, this is just my opinion as an investor.

Are you the sole member of the LLC or do you have partners

Curious how everyone finds their deals.  If people could reply with a % of the top acquisition techniques, I think it would be helpful!  

• 10% Direct Mail/Driving
• 5% Wholesalers
• 25% REO Foreclosure
• 25% Fannie/HUD Auction
• 35% MLS