All Forum Posts by: Shaun J.

Hello BP!

Does anyone know what document I would use to sell my 100% interest in my LLC or Corp?

Also

Can my C-corp Own the LLC so that when I sell the LLC the check is made to my C-Corp?

Thanks in Advance!

Went out and looked at a property yesterday in a richie rich area. House is currently a 2bd 1 bath two story house. It's currently a rental @2200/mo which is lower than the average of $2800 per month. 

I am looking to wholesale this, and before I make my offer today I'd like to make sure my math is right for a wholesale flip.

ARV: $485k

485 x .70 = $339,500

Rehab is $60k 

$339,500 - $60k = $279,500

Wholesale Fee = $10k

That would make my MAO $269,500?

There is no Mortgage, she owns the house 100%. House was built in 1930. It needs floor joist work, new windows, complete new roof etc etc

I don't think she is going to go for $269 because she mentioned she thinks it's worth 400k right now. 

Any advice would be greatly appreciated. Thank You!

I am curious of the type of Insurance you need for this? 

Hello Everyone, 

Looking at a 3bd 2 bath double wide mobile home in Gettysburg PA for a Buy and Hold. I am hoping to hear feedback about the area, rents for homes like this, and maybe even connect with a Property Manager in that area. 

I look forward to your feedback. Thanks!

Seems like you have the right correspondence. 

You have 2 choices, well no 3 choices; 

1. Return the money in full on a paid in full agreement

2. Hire an attorney and fork over a bunch of cash

3. Send a Certified Return Receipt Cease and Desist Letter to both her and her attorney (Call Their Bluff) <-- This is what I have done. Basically tells them that unless they file suit, buzz off. 

The Likely hood she has the capital to fork down on a retainer on an "iffy" case is slim to none. The woman didn't even have the whole deposit at the same time as she had to send it in increments. 

@Marc Winter -- You are amazing, Truthful insight. You basically just answred all of the questions I had while looking to invest in Scranton. I am going to email you if you don't mind. Perhaps you can help me find something that meets my criteria. 

Great post and great insight here. Thanks everyone! 

I agree with @Chris T. and @Jeffrey Grieshop

I just met with an investor friendly REA the other day that specializes in Foreclosures. He was able to give me a bit of direct insight on certain things and how I can do certain things with Flipping (Wholesaling) REO properties.

After building some rapport with him, he also gave me his personal HML contact info. Someone that is local and won't bail on you 48 hours before closing. #Networking #Works

And to be honest, it's not a bad idea to reach out to some motivated sellers so you can get comfortable with talking to them for the future. Just don't sign a Purchase and Sales Agreement until you have the right info and contacts to back you up. 

Thanks @Jason D.

How was your experience with GroundFloor?  

Trim the hedges, do something with those windows. Do something with the grass (it looks awful)