All Forum Posts by: Michael Plante
Michael Plante has started 69 posts and replied 2369 times.
Post: Cash Offer vs Seller Finance
- Deland, FL
- Posts 2,434
- Votes 1,875
Pay all the taxes after the sale or pay bit by but when that money is with less
But you wouldn’t have the bing chunk to invest
if you have some where to put the chunk of money where it will make more even after paying taxes that may be better. Also no risk of the buyer not paying
Personally I don’t want to be the bank
I want to borrow as much money as possible
Post: New to Bigger Pockets Orlando
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Matt Nico:
Originally posted by @Robert Pierce:
Afternoon All-
After finding BP podcast I went down a rabbit hole and have been watching/listening to anything I can find, I now see the protentional in real estate from a lucrative side hustle to long term play.
Currently, I still work my W2 job and plan to for the next couple years since my work generally starts early and finish's early. My plan is to pass my real estate license (pending state test date) and funnel any commission into purchasing multi-families. This will probably take some time but I figure I can start to learn the game as a relator, make connections, etc.
Are there any weekly/monthly networking events in Orlando? or where would be a good resource to find such events?
-Rob
Hey Rob,
Sorry to kind of pour cold water on your idea, but I think you would be better off NOT getting your real estate license at first and use a realtor as a resource. Its not like they cost anything to you personally as someone buying property. By getting your license you are super green and have no contacts or people you can lean on for advice or expertise. Give an agent value by letting them earn a commission and they will make you a solid investor and can learn and get your license later. Its tough to be a realtor and have a full time W2 anyway.
If I were you I would start to connect with local realtors and contractors in the area and purchase a house as quickly as possible to house-hack. Prices are going up by the day in the area and you want to get something as quickly as possible. You should be able to house-hack your way to breaking even or even cashflowing a bit while living in the home for free.
Hope this helps. If you need any advice or need someone to analyze a deal for you feel free to reach out.
Happy Housing,
Matt
It’s not an either or
He could get his license for the knowledge
Use an agent as well as have a side gig
Post: New to Bigger Pockets Orlando
- Deland, FL
- Posts 2,434
- Votes 1,875
I am from north of Orlando
Congrats on your decision to get your real estate license. Great idea
I would suggest getting in with an older more experienced agent and offering to help them for free with whatever they need
Just because you get your license doesn’t mean you can’t use an agent to help you when you are first starting out that is what I did
I would also suggest you watch Ben Malla on YouTube. Really good info. He doesn’t sell any courses so I trust his advice without suspecting ulterior motives
He also talks about getting your real estate license
Post: Best Entity for Flipping and Best for Rentals?
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Carson Wright:
Hi, I'm new to this website, but heard I can ask all of my questions here. I was wondering what you guys think the best company structure may be in terms of entities in terms of both flipping houses and also holding rentals and eventually using 1031. I feel like they all have solid advantages and disadvantages, but I've been leaning towards a Corp and don't know if I should just register a C Corp/change my current LLC or just register my LLC as an S Corp.
Here is a video on best entity for flipping
Post: Appraisal came back at my low ball offer
- Deland, FL
- Posts 2,434
- Votes 1,875
Used car salesmen
Attys
Appraisers
Post: New Member - Writing Questions
- Deland, FL
- Posts 2,434
- Votes 1,875
Sure thing
what sort of contractacts?
Post: Recommendations for Mentorship/training
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Jasmine Russell:
@Jim K. Because I have no choice but to work my way up from nothing. I mean I'm saving as much as I can for investment but at the moment it's not enough. With my situation do you have a different idea? How did you start?
I have read for years about people having mentors
I am still looking for a mentor after 40 years
have actually contacted some of the paid coaches/mentors here but no luck finding what I need
Best of luck to you
Post: New Member - Writing Questions
- Deland, FL
- Posts 2,434
- Votes 1,875
- What kind of planning do you do before writing? None
- What device are you generally writing from? (laptop, mobile) mobile
- How many emails do you generally write in a day? 30 - 50
- How long does it take to compose an email? Less than a minute
- Does anyone read your drafts or make suggestions? No
- Do you ever work with others to produce a document? No
- Have your writing methods changed since you left school? Emails no longer have ‘Dear’ or ‘To Whom it May Concern’. No more Sincerely etc
- Jut get to the facts. Eg What time will the electric be installed? Emails are more like texts. Get things done efficiently. Without fanfare or extra unneeded words
Post: Have you had a property stolen from you IE deed you did not sign
- Deland, FL
- Posts 2,434
- Votes 1,875
Never heard of anything like this
guess I have been lucky
Post: Victimized by WireFraud on a Real Estate Sale - Need advise
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Umesh Menon:
Thanks for the tip @Michael Plante. I had reached out to the FBI field office earlier and they directed me to the Attorney Generals consumer affairs office which I plan to call next week. I was originally thinking of posting it on Social Media however I like your idea better.
@Russell Brazil, I was hoping the title company’s insurance to cover however the title company is trying to avoid that option, hence looking into alternatives.
For me it’s not the idea of getting help it’s the idea that the title comoany may solve the problem if they see you are contacting all of these places
My problem was solved within days by the offending company
It was literally weeks later before the state Atty generals office replied and told me to fill out a form. By then the problem had been solved for weeks
It is the SHOCK factor to the offending company which get the movement