All Forum Posts by: John Geldert

@Jeff Amore welcome to Bp, you found the right place for real estate investors! @Peter MacKercher hit on the head when it comes to getting started. I invest in the Poconos, just getting started in flipping in the East Stroudsburg area. Let me know if can be of any help.

@Krista Mcknight Welcome to BP! Great info on this sight as well as very educated investors, who are always willing to answer any REI questions you may have. I agree with @Trevor Ewen, renatus is one of those expensive gurus advertising in all the big cities. Start off by doing you own research reading up on the topics of Rei that interest you. The Ultimate Biginners Guide To Real Estate Investing is a great place to start and it's free as a member of BP. It gives you an introduction and explanation of all different niches and options of real estate investing. Good luck!

Great advice @Mindy Jensen and @Donald Morrison mold is a very tricky fix. As a liscensed home inspector I can tell you that who ever you hire to do your home inspection will not be able to find any latent defects, meaning if there is mold behind the drywall, wall paper, moldings etc, they will not (in most cases) damage the existing structure in order to find any signs of mold. If there is anything on the surface that "appears" to be mold, they will recommend a sample be taken and sent to a lab for testing.

Thanks for the great advice @Justin Morgan , I'm in the same boat as @Jessica H. . So my PML and I have decided to make it a JV on a deal to deal basis. From what I have been reading the property should be put in his name, and im 100% fine with that. Now the question is, the property will have to or should go under an LLc in case we are unable to sell initially, we will end up renting it. As I mentioned earlier, I currently have my own LLc with a rental property under it. So now do we open another LLc under both our names or just his?

@David Mitchell I invest in the East Stroudsburg area if Pennsylvania. All my properties up to this point have been off MLS so I have not had to do title searches prior to purchase.

Hey there, I'm trying to get my foot in the door in East Stoudsburg Pa. Working with a couple of agents but no wholesalers yet. Looking for SFR under $100k any size, any condition. All cash deal and can close quick!

@Mike Hepburn thanks for the suggestion, I'm just starting out(again) and believe that the leverage of using his cash will help the company grow much faster, plus removing any risk of my families finances.

@Eric M. great advice, yes I will make sure I have all the "what if's" addressed in the contract.

Greatly appreciative of all the helpful feedback BP,

Thank you @J Scott your advice is much appreciated.

@Bryan Gamble and @Steve Bradigan for contributing to the conversation, I will be meeting with my accountant/ lawyer this week and let you know what we decide on.

@Rob Caldwell thanks for the advice. I will only be doing this part time until I quit my full time job hopefully in 4 years, so I probably will only be able to do up to 4 deals a year.  I understand that "everything else" is a time consuming task but isn't there something to be said for the convience of capital without having to go the rout of conventional financing? Is there another way you think I can structure this?

Thanks @Justin Morgan , I understand the risk in loosing the partners money but this is the ways he would like to be involved. 

I know this isn't the ideal situation for an investor but I feel structuring it this way could excel the growth of the company.

welcome aboard @Daniel Caruso , make sure to do your due deligence before you make a decision. It's not unheard for a wholesaler to inflate there numbers, do your own comps and be conservative with your carrying costs. Good luck,