All Forum Posts by: Maceo D.

@Albert Yamoah - Welcome aboard! I have not been here long myself but the forums/articles have already provided me with a wealth of knowledge.

@George P. - I understand, we just each focused on two different parts of his statement. I focused on the second half but yes you are correct. I meant no disrespect just with me being new here as well, wanted to ensure that we are cultivating a helpful environment even if that means only responding to part of someone's post positively rather given discouraging feedback.

@Carlos Alvarado - what are your goals? People need to know what your objectives are so they can assist you as to what you are looking for help on. Are you wanting to be a wholesaler, flipper, buy and hold, etc.? As George mentioned there is more money than deals which is a true statement but depending on where you are in the chain of RE some folks may be willing to help you and you never know someone may be ready to offload and get out of RE and need someone to buy them out. It all depends on what your focus is. Are you the one with the money looking for deals or the one trying to have deals to look for the money?

@Jessica G. - That's awesome, way to jump in there. I just got my first property on Sunday and working to get inspection and such lined up as now.

@George P. - For starters, no single person can manage every possible deal that exists. Next, this is supposed to be a place for others to seek out help from everyone else. And lastly, he asked for help with a best place to look besides MLS and a simple friendly response could have been to try driving through your local neighborhoods looking for vacant or FSBO properties or try joining a local REI group where people are willing to share on deals if even for a finders fee.

@Carlos Alvarado - see above for some examples of places to look.

Hello Scott. I am new as well so I could be wrong but you may want to seek out Hard Money for flips rather than conventional lending. Just my two cents

@Sharon Tzib - Yes Sharon you are correct. I will be purchasing the home in my name and holding as a long-term rental.

@Steve Babiak - Thanks for the link Steve.

@Sharon Tzib and @Maurice Miller - I agree, thanks

@Sharon Tzib - Thanks, I have actually read that article but I have also read the flip side arguments. That's the bad thing about the internet is that you will find just as many people saying do as you will saying don't do it. Regarding the lease yes that was my thought as well and I intend to run the LLC as a true business. This is not my first LLC just my first dealing with RE. I appreciate the information.

@Mike M. - Thanks as well, I do have excellent credit so I will look into that as well. I guess my next step should be to find a lender and start having discussions on what is possible then make my decision from there on whether to start with LLC or transfer to the LLC.

@Ronnie Sparrow - Question for you, are the leases with your tenants under your name or the name of your LLC? Asking cause I am assuming when you get new loans you have to show the income you are making from your other rentals to account for your DTI or am I not thinking about that right? So I am curious how that works if the lease shows the income going to the LLC instead of you. Forgive me if I am asking an ignorant question.

@Casey Carroll - Thanks that for that info, I will see what that is about as well.

@Ronnie Sparrow - Thanks Ronnie. I was hoping to get a response from someone that actually had guidance by a lawyer in Texas. Its my first deal so I am sure I am over thinking/over complicating everything.

@Cameron Sharp - Thanks