All Forum Posts by: Taylor Jennings

@Scott Meyers coincidently I viewed your profile and saw you ask that question ha wouldn't have caught it otherwise!

I need to schedule another meetup.

I'll likely shoot to hold one a couple weeks from now. I considered bringing everyone to my active rehabs, but I'm not quite sure how to go about that.

I heard you were speaking at the recent CIREIA event? Self storage sounded interesting.

My uncle bought an old 84 lumber place and converted it into storage + boat/RV storage, but then changed it into a 2 huge indoor baseball fields.

@Andy Rumple Podio is a pretty powerful tool, no doubt. Glad you like the App! An importance tab makes sense. Thanks for the feedback.

@Account Closed Google it =] 

Customer Relations Management

So you can keep track of all your leads, call backs, active deals, deals under contract, accounts receivable, etc.

I had a recent post on here with our Podio template so you can download. You can the post on my profile on he right hand side.

@Elio L. I've got some other stuff I'll share soon.

There are a couple of updates I need to make to this template... Be looking for an update.

PRICE REDUCED TO $16,000

(2) Properties are in Bates-Hendricks and the other (1) is in Grace Tuxedo.

Title work has been completed for these houses. This is a deal under contract and ready to close! 

Cash Purchase As-Is or if you'd like to buy them as turnkey and fund the rehab we can talk numbers.

919 Cottage, Indianapolis 3bd/1ba/1148sq+/$725 REH $26k (SqFt on this house is wrong. It's larger than what records state) > Pictures Below

https://drive.google.com/folderview?id=0B-SeVvpM7tGIVnRlUEJtd1NmRk0&usp=sharing

841 N Grant, Indianapolis 1bd/1ba/500sq/$500 REH $14k > Pictures Below

https://drive.google.com/folderview?id=0B-SeVvpM7tGIaUNvQ3JuVDR3V2s&usp=sharing

305 Parkway, Indianapolis 3bd/1ba/1060sq/$750 REH $18k > Pictures Below

https://drive.google.com/folderview?id=0B-SeVvpM7tGIQUpuMFRQRmE5WUk&usp=sharing

Call me directly with questions!

[email protected]

(317)696-3434

@Jared Rogers lol right?

I re-posted and changed a bit of the wording.

Hope you liked the app!

@Dick Rosen the rent rate calculation is intended to give you a rough range to offer on rental properties based on a % of the 2% rule. The first offer amount is 25% of the 2% rule so $800mo / 0.02 = $40000 x 25% = $10000 which is, "What we probably will need to be around." when making an off the cuff offer.

Every seller will say no, but that's when you ask,"Well, _____, how close could you feel you could come?"

The calculations were designed for houses worth under $100k.

MAO = Maximum Allowable Offer

@Henry Nguyen Let us know how you like it!

I can't begin to tell you how grateful I am if I can get just a few startup questions answered...

ENTITIES

• Real Estate Brokerage
• REI Tech Company.com
• Property Mgmt Co
• Construction Co
• Financing Co
• REI Tech Co Apps/Software (IP Involved)
• REI Marketing & Acquisitions
• REI Fix & Flip Co (Same Co as M&A)
• REI Buy & Hold Co
• REI Joint Ventures (Flips & Holds)

Q: It's been advised that we separate each division beneath one Parent Company 'PCo'.

Our Dilemma

The REI Tech Co would be a platform to make offers, auction, and buy Real Estate similar to RealtyBid.com, Auction.com, and Hubzu.com only targeted toward a completely different niche.

We intended to charge a Buyer/Seller premium which would be based on a % of the total offer/listing/bid (TBD) in addition to fees for premium services (featuring property, BPO, web based tools, privileges, etc).

No doubt the % would be viewed as a consideration for a Real Estate Transaction so the Tech co would need to be licensed.

The buyer would have the option to use our Construction Co 'CCo' for rehabs/maintenance and Property Mgmt 'PM'. The PM Co would also need to be licensed.

Knowing that PM companies have a higher level of legal risk we wanted to separate the PM from the Tech Co. (Instead of having the PM under the Tech Co if the Tech Co were the brokerage)

Q: Our thinking is that the PCo should be the brokerage with all of the listed companies (above) beneath it?

Q: This would allow us to utilize the Real Estate Licensing for any entity while keeping each sibling separate?

Our concern is that the PCo Brokerage will become one massive capital cow. (S-Corp)

Our understanding is that any consideration from a RE transaction must be received and re-distributed by a RE Brokerage. (Revenues from PM and Tech Co sales)

Q: Is there any limitation for how much we can pay a Child Co for services/commission?

Q: Is a Child Co, unrelated to Real Estate, required to pay a portion of all revenue back to the PCo?

It was helpful putting this on paper and will be overwhelmingly helpful with your feedback. We thank you so much for taking the time to read our post and for your feedback.

We can't thank you enough...

I just realized today was the day!

I remember joining BiggerPockets not long after passing up on a $25,000 educational program. (I didn't happen to have the spare change laying around)

I was in search of a resource that would help me understand the ins and outs of the Real Estate Investing industry without spending over $50! lol 

There was quite a bit of searching and several programs I declined joining over a period of a month, but what saved me was simply searching for a few questions I had about wholesaling and taking the time to read the results in the BiggerPockets forums.

BiggerPockets proved to be extremely valuable after I took the time to read and research more in depth into Real Estate Investing strategies within the site. Members I still see active today were so helpful to answer questions I had and many if these guys were investors who have done hundreds of deals! (Man my tab must be high at this point...)

The single most influential piece to my persistence in REI over the last year has been the BiggerPockets Podcasts. "Do not conform to the patterns of this world but be transformed by he renewing of your mind." The interviews in the podcasts have helped so much with my mindset and have been such an encouragement.

What a blessing BP and the members have been over the last year.

I'm so excited for this New BiggerPockets Year and the exponential growth of the business opportunity God has set before me!

I can't thank @Joshua Dorkin @Brandon Turnerthe BP Team, and all the members enough.

Cheers, to our new and continued relationships and our success!