All Forum Posts by: Jonnie Emton

Jonnie Emton has started 0 posts and replied 5 times.

Really nice blog. I love the theme & layout.

0 Votes

I'm no real estate expert at this point, but isn't the first, second, and third rule of business to make money? It seems ludicrous to put "forming an LLC" in front of making a profit on a first deal. It reminds of several articles I've read about starting a business that list items like visit your accountant and lawyer, print your business cards, obtain a business license...but don't even having SELLING on the list!

Also, I think I remember reading that Donald Trump at one point titled his properties in his own PERSONAL name.

Is this seeming obsession with LLCs actually a worth while exercise (especially for a first deal), or is it propaganda from the legal profession that people just buy into? (Just trying to understand this a bit better)

0 Votes

I'm new to this forum and trying to figure some things out about financing.

Originally posted by Keith Ottman:

not sure what line of work you are in, but i found out in the past that sometimes banks will consider loaning if you have a 2nd job in the same line of work as the first. not always, but sometimes, maybe especially so with smaller banks. so, you may be able to locate a second position, and splice it with the first, and off you go!

best of success,

sage

Can you explain what you mean by this? I didn't follow???

0 Votes

Wow, I really learned a lot from reading through these posts...

Originally posted by Charley Fernandez:

Yes. Homepath was the name of the program.

How much of a pain in the neck was it get the financing through this Homepath program?

0 Votes

Originally posted by Rob Gillespie:

CONGRATS!!!! Taking action is the hardest step to take!
If you have a great mentor, he or she should be able to warn you anything bad.
My only warning is, make sure your mentor does not have an interest in the deal you are buying. If her or she does, they should only be getting coin when you do.
My second warning is get at least 24 month balloon on the private capital, 12 months flies by!

Hope that helps! Good luck!! :mrgreen:

I'm new to this forum & I noticed that you mentioned the importance of having a mentor. What is the fastest way for rookie to find a good mentor?

0 Votes

All Forum Posts by: Jonnie Emton

Jonnie Emton has started 0 posts and replied 5 times.

Post: Building Back Up To 30 Deals a Year (long)

Post: LLC now or after first flip?

Post: I have my self figured out just need that...

Post: First time investor: What to do with with cashflow

Post: Any tips would be apreciated for my first deal