All Forum Posts by: Darrie W. Bennett

@Hugh

Thanks for the info Hugh. I was thinking since I am starting out Wholesaling, I might wait to join until I am ready to dome some rehabs ... then I could use their transactional funding and proof of funds. But now after reading the comments above from Joe and Jay; and now you ... I will probably pass. I have received so much education and guidance from BiggerPockets re: direct mail, website, sellers and buyers list, etc. in addition to to the fact that I am a broker and member of my local MLS. I think they offer a good product. Whether or not to purchase it, I believe depends on how much experience the purchaser has.

Thanks Jay ... definitely  worth a vote.

@ Chris ... Thanks Chris. By the way to everyone listing, I just finished speaking with a R.E. Attorney at the Calif. Association of Realtors and she upheld everything Chris just said above, disclose everything re: assignment fee, being a broker, not representing the seller, etc. She also said I could take regular listings and wholesale under my corporate name, just keep them separate.

@Shaun ... My business in incorporated and I am the sponsoring broker and only employee. I was wondering if I could use the same disclosures above, in my Purchase Agreement and Assignment Contracts. Something like; Neither Bennett Investment Corp. nor its sponsoring broker, Darrie W. Bennett, is acting on behalf of the seller.

Can anyone give me some insight on the USREIA "U.S. Real Estate Investing Association". I just discovered them; and I like them. Not a R.E. Guru. I finished their free 5 lesson video training, which was great. They want almost $1,000 for the complete course. ... Now as Bigger Pockets says, most of the info the schools sell is for free somewhere on-line, and I have gotten enormous help from Bigger Pockets for free. Now USREIA impressed me so much, I am thinking about making the investment anyway ( since I have the money ) just to put the icing on my cake; so to speak. One of the big advantages I see is the Transaction Funding and Proof of Funds they offer. ... Comments please !

Wholesalers ... Are you using assignment contracts you found on-line or are you going to an Attorney, having them review and tweek a contract for you. I have downloaded and modified one; but wondering if I should pay the bucks and go to an attorney. 

Comments please !

Hi Tish -

I'm pretty new to Bigger Pockets too; but here are some things I found very helpful. First I suggest reading Bigger Pockets "Ultimate guide for beginning investors" ... click on the "Learn Tab". The guide answered a lot of my questions, reaffirmed the direction I wanted to go, and gave me more inspiration than I already had ( which was a lot ).

Next check out these books: Cash Flow Quadrant by Robert Kiyosaki, Inc. & Grow Rich by C.W. Allen (this will give you something to plan for in the future) and my favorite "Life Changing Book" ... Thick Face: Black Heart by Chin-Ning Chu .

Good Luck = ( when prepardness meets opportunity)

Arturo -

i think you should look in our "Free Ultimate Guide to R.E. Investing" and read everything on Wholesaling ... It will help a lot.

Brian -

The easiest way to pierce the corp. veil is by comingling of funds. Keep "EVERYTHING" separate, have your annual LLC meetings, and keep up with what is required each year and it will be very hard t pierce the veil. Remember creating a LLC is like having a baby ... it is a separate entity ... treat it as such. that's is the way I treat my Sub-Chapter S.

Steven -

Find out if the agent has an "Exclusive" listing. If he does, I would wait until the listing expires. There are different kinds of listings ... some are "Exclusive" and some are "Open".