All Forum Posts by: Lateefah Mathews

Hi, @Kali J Arnott Feel free to DM me and I will share a few reference sources. 

@Davarrio Worthy Welcome to BP! It's awesome to see your dedication to investing. To help guide you on your visits to these ongoing projects, could you share if you're focusing on the BRRRR method or the Fix and Flip strategy? Knowing your preferred investment strategy will help ensure your questions are directly related to the projects you're trying to explore.

Hey, @Valesco Raymond The $1000 termination clause you're referring to sounds like it's likely the equivalency of your missing EMD, which is quite common in real estate transactions. EMDs are used to show the buyer's seriousness about the purchase. It's a standard part of many contracts to protect both parties involved. I'd advise resending the contract, this time with your EMD included, and arranging for it to be wired directly to the attorney or title company.

Hey, @Dionne Ladson analyzing rehab costs can indeed be tricky, especially without prior rapport with contractors. However, I suggest, only opting for a paid walkthrough with a contractor when you're certain about purchasing the property. I concur with @Kyle Spearin suggestion to have the contractor physically walk the property, ensuring a more accurate evaluation. Also, familiarizing yourself with the 70% rule and determining the cost per square foot for repairs is going to be very helpful. In my experience, relying solely on pictures can be outright misleading, they do not provide insights into the internal structures or the condition of the roof, plumbing, and wiring to say the least. Best of luck with that 1st Flip! 

Hey @Kiran Chanda I have a few contractor contacts in the area and would be happy to assist you in narrowing down your search for land. Let's connect to discuss the specifics of the process. Feel free to DM me for more info. Looking forward to helping out!

Hey @Milos Andjelic Welcome to the community! Are you primarily focused on wholesaling or fix-and-flip investments? I'm open to connecting either way and exploring potential opportunities together. Feel free to DM me or give me a call to chat further. Looking forward to the possibility of making some magic happen!

@Steven Barr I totally get your struggle, finding a good deal in this current Atlanta market is like searching for a needle in a haystack. It's the Wild West right now. Have you checked out any other areas, like Gwinnett or even West Cobb, where there might be less competition but still potential for profitable deals? It might be worth a shot to mix things up a bit and look outside of the city to find those profitable deals. 

 I totally agree, build that skin-tight paper trail and stay bulletproof! You are definitely on the right path.

Hey @Shane Duncan I know maintaining corporate compliance with LLC finances can be a bit of a puzzle for sure. To keep your limited liability intact, make sure personal and business finances have a clear divide – paper trails are your best friend here.

As for the HELOC: I would consider setting up a formal agreement for a personal loan to the LLC. That agreement would be between you and the company (despite whether you're a member or not) This way, you're covering business needs while maintaining transparency. Keep this in your corporate ledger JIC.

But, and it's a big but, don't forget to loop in a legal pro. They can help tailor this approach to your specific situation and ensure it's all above board. 

Hope this helps a little, as I am not a legal professional. Stay sharp and You got this!

Hey @Ryan Berube Never too late to get started! Welcome aboard! You can utilize the forums under the strategies you are interested in pursuing and find many like-minded individuals to connect with. 

Good luck in your investing ventures!