All Forum Posts by: Skylar Dejesus

I would also not let the quick money blind you. Do a background check have brief talks with them. If everything checks out if you still dont feel comfortable tell him you'll accept 6 months worth of rent. 

Yes he can create a limited partnership and give the main interest to his son and still remain in control of the  property so when he sells the property he will only get taxed on the percentage that he owns. I would tell him to go speak to a CPA with experience in estate planning! Hope this helps! Great book in regards to this is "Tax free wealth-Rich Dad Series"

22. Read rich dad poor dad immediately took action. Had 2 properties under contract that ended up falling through. Just now about to close on my first one in June but have learned a lot of priceless things along the way. Hoping to acquire at least 1 more more property by years end then 2 a year from here on out.

Personally I would do it. Of course I am not as expirenced as you but hey your in retirement it's something to stay busy and guaranteed profit for your grand children. Although 5 years is a long time one never knows what could happen in that period of time I would defiantly discuss this with your lawyer because what if she or you passes in the 5 years I know no one wants to think like this but in the whole spectrum of things you never know and always should be prepared! Interested to see what your decision will be!

Jake, I would also speak to your lawyer about it if you have one and I would also begin the eviction process! I agree with mrs. Colegrove it's unfortunate in this business sometimes that being rhe nice guy and trying to help tenants usually blows up in your face typically with some kind of draw down for the investor.

yes sir it does appreciate your response very informative. How long did it take you to set up that trust account. I would love to talk more about how you've structured the account! Thanks!

congrats! Can you further explain how you financed the propert? I.e cash, loan etc

I am currently doing the same thing have 20% down for around a 100k property but I have found a beautiful quadplexes for 200k so I'll be putting 10% down to create more cash flow for myself. Goodluck with your first property!

Wow even 6k/wk would be great! Best of luck hope you get that squared away!

I live in a smaller city I would not consider it rural but it is closer to rural than a large city if it were on a spectrum. I've been toying with the idea of starting to wholesale and was wandering if there are different markets which work best for wholesaling? For instance would a large city be more apt for wholesale success than a smaller city. Of course I automatically think yes, just due to the numbers, if their are more houses being sold then obviously their would be more opportunities. Hoping some of the more experienced wholesalers can weigh in with their views?