All Forum Posts by: Patrick Jacques

Last night I set up an S-Corp and obtained a tax ID, with our goal being primarily flipping and short term investing.

But what about securing a company/business name to use? Was the name I entered in the S-Corp process secured in my name? Ive reviewed the process for LLC's and Doing Business As, neither of which apply with a S-Corp. We'd rather not do business in our own name, and are looking to get some business cards, free website and some other materials.

How should I go about making sure the name is secured or getting it in my possession?

Please tell us you didn't seriously contemplate 40k to some guru class. Give me 40k to invest in some properties and I'll make you a ton of money. Anyone that has 40k to spend on a guru should look into being a private or hard money lender

Yes , don't expect much wiggle room when negotiating a price. Also, it's a government agency so it could take some time for them to get through the entire process

Hello! You're not too much of a newbie... You do have two properties already. Welcome to bigger pockets, this is an amazing community.

Where are they located in Central Florida? What kind of properties are they?

There are two abandoned supermarkets in my area, I'd LOVE to turn one into an ice skating facility. Im a huge hockey fan, and owning my own rink would be incredible!

Thank you all for your replies. I checked the realtor.com and the county appraisers site, which were surprisingly unhelpful. So I turned to Zillow ( *sigh ) which lists;

Home in default

Feb 11 2014 Foreclosure auction, $191,000 Unpaid balance

Feb 25 2014 The lender, BofA, has assumed this property during foreclosure proceedings

Mar 5 2014 Listed by bank for $157,000

So to my untrained eye, it looks like an REO. Im wondering where the $191k unpaid balance went

A very close family member has a reverse mortgage on their home, and we'd love to keep the property in the family as a rental after he passes.

But how does the process go in a reverse mortgage go, after a death of the owner? Has anyone had an experience in this matter?

Curious to see how you all were able to get your first property.

How did you pick this place up? Looks great, wish I could find a deal like that!

Every reply helps, yes! Im obviously a rookie trying to take in as much as I can.

@TravisDaggett, if that's the case then is it even worth while pursuing a property? Ive found a house Id like to flip, it's listed at $165,000, with an unpaid balance of $191,000. How much negotiation can typically be made in unpaid balances? Thanks!