All Forum Posts by: Rashard Alomari

what about a general partnership? I have seen a lot of people convert over for tax advantages. Increased liability, but a simple insurance policy can cover that liability. 

What are everyone's thoughts on a GP (with husband or wife) as oppose to the traditional LLC route?

Not at all! I own quite a few properties and still rent! Looking to hit 20 soon before I finally settle with buying a residence.

Where to begin! Memphis is a fantastic market. PM and I will provide you with great insight on our amazing market!

Robert Syfert I'm very interested as well!

Yeah. It sounds like Dean Letfus is spot on. These rents are in bad areas which in turn means this "deal" is no deal at all. 100k would probably me more accurate...maybe. Your seller needs to come down tremendously.

Welcome! Feel free to contact me anytime if you're in need of guidance and if you'd like to network and grow! My team is growing at a rapid pace in the Memphis, Tn and Detroit, MI market. Good luck! Rashard Alomari HomesForProfits.com

@bryanharris with homesfor10k.com!

Hello all, I recently came across a nice home that I initially planned on wholesaling. While viewing the home, I decided that I wanted to keep it for myself to serve as my primary residence for a few years. It's value around 145k and the seller is looking for their payoff of 104k. The seller is a tired landlord and merely wants to rid herself of the responsibility of the home. I offered to take over her mortgage and she agreed. I really don't want to actually "assume" the loan and go through the banks approval process, so I offered to Purchase the home subject-to. We're basically going to quit claim the home into my name and I'll make the mortgage payments directly so I know they're being paid. What are the risks involved on both sides (seller/buyer) with such a deal as I am not experienced with this strategy? Thank you! Memphis. Tennessee. Wholesale. Rentals.

Hello all, I recently came across a nice home that I initially planned on wholesaling. While viewing the home, I decided that I wanted to keep it for myself to serve as my primary residence for a few years. It's value around 145k and the seller is looking for their payoff of 104k. The seller is a tired landlord and merely wants to rid herself of the responsibility of the home. I offered to take over her mortgage and she agreed. I really don't want to actually "assume" the loan and go through the banks approval process, so I offered to Purchase the home subject-to. We're basically going to quit claim the home into my name and I'll make the mortgage payments directly so I know they're being paid. What are the risks involved on both sides (seller/buyer) with such a deal as I am not experienced with this strategy? Thank you! Memphis. Tennessee. Wholesale. Rentals.

Hello! You definitely need to contact Bryan Harris who owns imperial dynasties property management company in memphis. He offers a full turn key experience- house, rehab, section 8 setup and inspection, and property management as well. You can contact them at homesfor10k.com