All Forum Posts by: James Sotipalalit
James Sotipalalit has started 12 posts and replied 50 times.
Post: Baltimore
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
James Sotipalalit here I'm new flipping houses and this is what I am committed to. My question is for all investors around DC, Maryland, Virginia area is Baltimore a good area to flip houses in. I saw prices and they seem pretty cheap to buy. So please anyone around my area can you tell me of Baltimore is a hot market at the moment let me know God bless.
Post: Buy and hold
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Originally posted by @Brett Russell:
@James Sotipalalit , for buy and hold, the discount to market value isn't as important as it is for flipping. It's more important that the rental income more than covers all expenses including your financing costs so you can make a profit.
So, how do those numbers look?
- That's make so much sense. I feel dumb for saying that but I definitely want this property but the problem is laid off and only 10k cash on hand.
Post: Buy and hold
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
I'm still new to this business so what type of numbers I know the market value is 215k and they're selling for 168k. It's a wholesaler.
Post: Buy and hold
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Originally posted by @Franklin Romine:
What is your plan? It doesn't sound like you have one....
Frank R
Well my plan is to have someone rent it out because right now it's below market value.
Post: Buy and hold
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Hello James Sotipalalit here. For all my experienced buy and hold investors. I have a question I seen a property for $168,000 and a great opportunity for my first buy and hold property. But here is the issue I have just been recently laid off and I have only about $10,000 dollars. Is there a way I can still obtain this property somehow with no job and only 10K? Please experienced investors I want to know how to get this property in my situation. God bless.
Post: mobile homes
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Does anybody invest in mobile homes here on biggerpockets? My question is for mobile homes is the only way to deal these is it just buy and hold? Is it possible to buy for a short term then flip it?
Post: Business Cards
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Originally posted by @Christopher Leon:
James Sotipalalit hi James - you could but I think it's premature. Nothing wrong with coming up with a clever name and double checking to see if that name is already taken or incorporated and stealing the website domain. If you have the luck, by all means do that, but, in the interim just get a Doing Business As (DBA) License. Atleast then you can do business in your proposed name that you can later incorporate. When running a start up, it's good to do it on a shoe string budget I have learned. Up to you though! Good luck.
Thanks for this and how do you get a DBA license and what your saying is I can run my real estate investing business without actually having a corporation name in the beginning correct?
Post: Business Cards
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Originally posted by @Karen Rittenhouse:
You can put anything you want on your business cards, but why would you want to buy cards with a name that you may not end up using?
First, check to see if the name is available for a website. Go to GoDaddy.com to see if the website with your name is available. Then, if it is, check with your Secretary of State to see if the business name is available. (You can do this online.)
Once you have reserved the name for a website and with your state, get your business cards, not the other way around.
Karen thank you so much for that advice I will do that now. God bless.
Post: Business Cards
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Originally posted by @Steve Yoo:
I could be wrong but I believe as long as you don't incorporate your company you would be considered a sole proprietor.
Does this make sense?
I'm sorry I don't understand. Please explain. god bless
Post: Business Cards
- Real Estate Investor
- Montgomery Village, MD
- Posts 50
- Votes 8
Hello everyone on biggerpockets how are you? Well I hope this makes sense and hope its not a dumb question but I am just starting out as a real estate investor. If I get business cards and lets say for example I name my company ABC investing. Before I get those business cards do I need to have an LLC. or INC. or sometime of corporation before I can say my company name is ABC investing? Please help me out I am lost.