All Forum Posts by: Ronald H.

Great advice, Josh. I am setting up the LLC but I am realy eager to get out there and find properties. I want to work with an Investor freindly agent.

I have most of the tools in place, I just need to get going. Today, I found a lawyer who I amy work with reviewing offers. I also called an accountant to help me setup Quickbooks Pro.

I have my EIN and need to go to the Commonwealth of Massachusetts, Corporations Division and register as an LLC.

My competitors are buying houses under their company name and selling it that way. I want to use Transactional Funding and most of them require you to make the transaction under a business name.

I have heard many times that the Banks do not like to see indivuals names on a flip transaction.

My initial focus has to be Wholesaling to build cash to reinvest into my business.

Thanks for the replies.

Th only reason for me knowing their market share is to complete a Business Plan and not to snoop. The guidelines, that I have from the SBA recommend to do this.

Do I want to waist time with this? No. I just want to create a clear and comprehensive business plan and have it look professional, just as the SBA recommends.

I am ready to wear the leather off of my shoes now. I am going to get started right away, but I need to work on the business plan while I am doing this.

How does this sound?

To buy, sell, fix, flip, lease and hold Real Estate for a profit.

:idea:

I am setting up an LLC and I was windering if anyone has any time saving ideas on how to estimate my competitors share of the market in my area.

I have found numerous transactions from my competitors. I have the initial selling price and the ARV selling price. How would I go about determining an approximate revenue and how would I be able to apply that to find out how to determine their share of the market.

I am in the process of selecting a name for my new LLC. I have created a Mission Statement and I was wondering what people might think of it. It reads as follows:

To buy and sell Real Estate at reduced prices, thereby creating solutions for sellers and creating opportunities for buyers, while at the same time helping improve my community’s appeal to the general public. Any comments are welcome.

How can I give an Investor intelligent specs without the knowledge of fix up costs?

Sorry, I do not want to seem like I am asking the same question but I have to because I do not know how I would present an offer to another investor when I have no idea of how much it will cost to fix up.

Thank you all for your feedback. Most of it is fine, except for the gentlemen telling me to give the investor fix up costs that I plucked out of the air.

How did you seasoned investors start when wholesaling. You must remember back to the time when you had little knowledge of construction costs?

Thanks folks!

:mrgreen:

I live in Saugus, Massachusetts and I have built up a Cash Buyer's list of Real Estate Investors. The list has not been tested, although, I do occasionally research what is going on around my area by using the Internet to see what transactions have recently occured. At one time, I had a database of sold properties with all the information I would need but now I am in the middle of an estate matter for my mother who had a stroke and appointed me P.O.A.

I know some contractors, although I do not know any of them particularly well. All these contractors want a fee in order to do an estimate.

What is the most efficient way of estimating fix up costs. I would go down to Home Depot and look at the cost of items down there but I probably would not be able to anticipate all the required materials that would be needed for any given repair since I have not been trained in this area.

Any help from someone who does this all of the time, would be extremely helpful to me. Thanks in advance.

Great posts people. This website truly is Real Estate 101.

Am I correct in assuming that the real deals are going to the Investors with the most liquidity or the most cash?

When most of the Short Sales are bought and Short Sale inventory goes down the Well Financed Investor Companies will be the ones offering the 10% EMD's in order to profit off of the remaining inventory.

After all, why not pay the EMD when you are going to make a profit of 10K or whatever your criteria is.

:mrgreen:

Thanks a lot Steve:

You know it always amazes me on how we overlook things that are sitting right in our faces!

I had to ask myself, why didn't I think of that, especially since I am looking at this data almost daily.

Thanks for the quick reply, Steve

Thanks Hazel for your reply. Yes, I guess it would be great to have a Title Agent on my team. I am not working and I have no money.

I am trying to Bird Dog in my area hence the reason for the Pre-foreclosure lists that I am building.

The only thing about the Title Company that stops me now is MONEY. They probably want some of it in order to provide me with the Cash Sales. Thanks for your reply!