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All Forum Posts by: Shaun J.

Shaun J. has started 11 posts and replied 130 times.

Post: Naming a LLC before buying properties

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

To add, Most Partnerships go sideways at some point. I'd incorporate on your own. 

Post: Naming a LLC before buying properties

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

I picked mine on Initials. Registered a C corp with S corp tax status. It's generic in nature as its my Initials and Properties, Inc 

Post: Endicott, NY Feedback

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

Can anyone give me feedback on Endicott NY for buy and holds or fix and flips.

Thanks! 

Post: Valuating Empty Lots

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

Thank you @Jennifer Beadles that at least gives me something to work off of. I have a few builder friends, so my hope is to flip them these lots that had houses on them at one point. 

Post: Thoughts on flipping raw land?

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

Are you guys buying and holding the land outright then re-listing it? 

I have a few places here that had houses torn down that were on them. I have skip traced the owners, and will be sending letters this week. 

How are you guys valuing these properties? 

You can't tell if they will be back. Try and shoot them a text or something so you can get proof. 

Can you prove that they moved out? Anything is writing or email / text from them? Unless you have something like that, no. Technically you can not. Your best bet is to call the local PD and have them come out, verify with a walk through that the tenant left, and get a police report to verify that for your records. 

Post: Valuating Empty Lots

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

How do you guys/gals valuate empty plots? I Have found about 4-5 empty plots around my town that used to have houses on them, but since have been knocked down, so I know they are buildable. 

Do I just go off the assessed value on the tax bill or? 

Thank You

Originally posted by @Juan Alberto Perez - Flores:

amazing topic here , i lost at property that i have under contract the other day cause i dittin have at gap funding or private money , was about 66k on profit to be make ; now i am also looking to attend to meet up to build network and meet people in that area so this don t  happen again , was my very first deal  and first offer i decide i am very good with number i can spot good deal in 10 minutes

could you have wholesaled it and did a double close? 

Post: First steps to flipping houses.

Shaun J.Posted
  • Long Island NY
  • Posts 133
  • Votes 104

Do the numbers. ARV, etc. I have a spreadsheet calculator I programmed myself on the 70% rule, detailed to my area on rehab costs etc.