All Forum Posts by: Tony Savage

 Get a Real Estate attorney and put him or her on retainer.  After the initial retainer, I send my attorney 50 to 100 bucks a month so when I need his representation I don't have to worry about coming out of pocket for his services.

Do not add yourself to either your father"s or his wife's title Suzanne. You do that then you will be liable for the gain based on what they paid for the property.  You receive a stepped up basis if you should inherit the assets.

Yes an attorney can pierce your entity if it's not set up right or you're not in compliance.  I would suggest that while you're waiting to get 10 conventional loans which will take some time. All of your assets are exposed and a lawyer will come after all of it.  

The least you should have is an umbrella policy that will cover any litigation you may encounter.  

Check with the stabilization board Nadeim or an attorney.

Anderson Advisors Alan,  I've been with them for almost 10 years.  They form all of my entities and are a great source of information.  The also have a very good tax service as well.

They have grown since I've join them so you have to be patient with turn around times.  If you contact them, ask how long will it take to form my entity.

Check them out.

David,

So you're not working right now and don't want to go back to a regular job.  If you truly want to make real estate your business you should flip to grow your capital.  I would not lock up 150K for a tiny bit of cash flow.  If you haven't flipped before, reach out to fellow investors and join investor clubs in your area to learn best practices.

Go get it!

First, do what you can to salvage/repair the existing windows before you consider buying new ones. Windows are expensive!

10K on a 50K loan is 20% return, which is a 40% annualized return.

Do you have anyone that you trust in that county? You can use his/her name and address or set up a P.O box in your friends name (if they're cool with that) for your mail to go to. It's a pain in the butt.

Really good deals don't sit on the market very long Victor.