All Forum Posts by: Derrick S.

I'll be there, and am saying so here to bump this topic. Adios! 

I think the best thing is to find out what value you really want to provide. Developing is not renovating, is also not underwriting, etc. And the idea that you have to know it all before you start is what is keeping some friends of mine from actually acting and making any money.

Great connections is a lot more than a lot of other people have. Kudos. 

The quickest way to turn those into wealth, great or small, is to find out what your connections are looking to be involved in. Maybe one hotelier wants to diversify into single family homes, or a different connection wants to flip homes. It's a simple conversation to have, "I've moved into real estate investing, what kind of deals would you be interested in being a part of?"

One of my favorite sayings is "start with the customer." You have the customer (investor) now serve them, and see yourself become more valuable.

I used to live in that area, wish I had a wholesaler like you up here!

What purpose do you expect the website to serve? And what business are you in?

You need traffic for any website, and if you have a good plan to generate that then it might be a good idea. I don't know any home flippers or land-lords who would call their website a great asset to their business. On the other end, I don't know how it could hurt, unless you spend way too much time or money on it.  

Three things that websites are good at: Holding more information prettier that a craigslist post, allowing lookie-loo-s lots of time to come and go anonymously, and maybe building your credibility if it is a nice website that provides value. If any of these would be a great help to you, maybe it is a good idea.

I've got a house that the seller will accept a Wrap on (yes!) and I am thinking of keeping it for our future home, so want to pull equity out of it with a refinance. Would a wrap qualify me for a refinance? Or would I have to buy it, pay a down payment, etc.? The wrap will only last for 12mo max. 

Thanks  folks, I truly appreciate it 

I am considering creating a S-Corp to flip homes (so that I can build business credit and leverage it) and the one, big, hairy problem with S-Corps is the maintenance. If you don't have appropriate records and meetings the entity is void and it all come crashing down. 

In the past I have heard mention of companies that will manage these records for you, remind you of meetings and obligations, and generally make everything smooth. 

Anyone have a suggestion on companies like this? I'd like your personal experience too, if possible.

We are flipping houses in Alaska now, but will be investing in rentals soon. Looking forward to that, I am interested in asset protection. The whole purpose of investing in rentals is secure income - I don't want someone suing my company and getting all my rentals. 

I know that a Land Trust is handy for this, and doesn't trigger the bank's call clause. But a trust can be broken up, and a lawyer might put in the effort if we have several million in property in there. So would it be better/ worth it to set up a trust for each long term property? Then the spoils of lawsuit are smaller, and only one property can be taken/ liened/ claimed on at once. 

Meh, all the marketing that goes with HML could be done just as well to source more JV deals. "Too much money" can just fund larger deals, like new construction, sub-divisions, apartment complex/ condo projects.

I understand wanting to protect your business model's image if you're fishing for further investors. 

Thanks @Isaac Blocher - and that's what I'll likely do. 

@Darren Eady That is an idea, but effectively would be a retirement solution. And I see the value of putting your money on auto-pilot for other people.