All Forum Posts by: Jeff Filali

5 Bed/2 Bath Partially Rehabbed Property in Broken Arrow, Okla.

Great, rent ready 2600sq ft duplex in South Tulsa. It's already updated and rent ready, valued at $130K, asking $115K OBO. See Ad for pictures and call Scott to make offer.

I'm not an attorney, so seek you're own legal advice. But you can probably go ahead and set up the DBA and domain/website for now and as it grows form separate LLC. While thinking in that direction, you may want to consider setting up a holding company LLC and have the others under it. I have mine set up that way, but that's also because I have other businesses that I want protected from liability exposure.

I'm sure someone who is an attorney will respond with better detail.  But you want to keep your assets separated from your marketing, property management, etc.  Separate the assets from the liabilities.  If you grow very large, there's ways of involving trusts, loans, leasing, etc to totally separate your personal liability exposure. 

I have a question about which approach is better and why? Being a landlord with buy & holds vs. offering Seller Financing.  I don't use credit to purchase, only purchase with cash. I just started investing in real estate this year, but have purchased 6 properties already, flipped 4 cash sells and just sold my first with seller financing. My original intention was Buy & Flip to build up more cash and than start Buy & Hold as a Landlord. But I am leaning towards doing more seller financing. It seems like a good approach, buying deeply discounted properties for cash that do not need much work, than sell them for full value by offering seller financing. Example: purchase a $100,000 home for $70,000 from a very motivated seller and turn around and sell it for full price of $100,000 by offering seller financing. You're making 30% plus the interest until they pay it off and you're not a landlord. I realize you're losing some tax benefits, but you're also no longer in the landlord business and not responsible for repairs, insurance or property taxes.  Am I missing something???????  Thanks for any input.

Just stumbled upon this topic from 6 mos ago. I don't use credit to purchase, only purchase with cash.  I just started investing in real estate this year, but have purchased 6 properties already, flipped 4 cash sells and just sold my first with seller financing. My original intention was Buy & Flip to build up more cash and than start Buy & Hold.  But I am leaning towards doing seller financing.  It seems like a good approach, buying deeply discounted properties for cash that do not need much work, than sell them for full value by offering seller financing.  Example: purchase a $100,000 home for $70,000 from a motivated seller and turn around and sell it for $100,000 by offering seller financing.  You're making 30% plus the interest until they pay it off and you're not a landlord.  Am I missing something???????

Sold another one of my properties today... Another HOMERUN!!

The numbers- Total Invested: $30,695.13 and Sold it for $54,900.00, but I'm providing seller financing on 80% with interest on a 10 year note. 

On to the next one...KEEP GRINDING!!

Agree 100% that different approaches will appeal to different people.  Send multiple mailings to the same people again with different versions (Simple Yellow Letter, Professional Typed Letter, Post Card etc).  Activity creates activity & there's a fortune in the follow-up!!  Keep Grinding!!

This one wasn't as big a homerun as my last few have been, but still a nice little $6,500 profit and on a property that I didn't have to do anything to.  On to the next one!!  Keep Grinding!! 

All of the above. I have an extensive background in direct marketing, sales and network marketing. So after I spent the first half of this year doing my first few flips myself to get my feet wet and learn the system "ins & outs", following this summer, I went all in with marketing and launched my own marketing company to do the marketing for me so I could spend more time actually flipping properties instead of locating them.

Now I have started partnering with independent wholesalers to work the leads I'm generating under joint venture relationships with me retaining first right to purchase any property that results from my leads at the negotiated wholesale price plus a flat wholesale fee for their time or we do a JV split on any revenue generated off the properties I choose not to purchase that were generated off my leads.

I'm generating a lot more property leads then I could ever purchase myself. My plan is to keep expending the marketing into other markets by adding more independent wholesalers as more buyers request our assistance locating properties.

Gotta spend it to make it!! 

All my own cash on all 3 of those.  I did a few flips earlier this year that took me a lot longer, but I'm ramping up the speed now and ready to take it to the next level. Only house I currently have a mortgage on is my primary residence which I also just purchased last month & moved into it the 1st week of November.  Still have some unpacking to do, but it didn't stop me from grinding!!  

My advise to any newbies starting out, quit making excuses and just keep grinding.  You may get 1,000 no's but it only takes 1 deal to get you started. Then once you get your first deal reinvest money into marketing your business.