All Forum Posts by: Trevon Peracca
Trevon Peracca has started 72 posts and replied 230 times.
Post: Looking into bird dogging
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
This will be a great way for you to build capital. I will let you know if i come across anyone who needs help in MD. Good luck!
Post: Lender Scams and Warning Signs: Beware & Protect Yourself!
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Originally posted by @Charlotte Moore:
Hi @Trevon Peracca - Did you ever figure out your dilemma regarding whether to go into the joint venture deal or to purchase your primary residence?
If not, my vote is for you to focus on securing your primary residents FIRST. However, you should do this by purchasing a multiplex in which you will live in one unit as your primary residence (house hacking) and rent out the others. A multiplex will allow you to better qualify for legitimate (less complicated) loans for higher amounts taking into consideration the income from the rentals. It will also help build your credit and allow you to hold while you build equity that you can use to engage in a joint venture at a later time.
I also suggest you research 203k loans, which allow you to borrow an amount over the property purchase price to include repair cost. The loan will be based on the after repair value (ARV). This way you can buy the multiplex at a lower cost, and rehab it with necessary repairs and upgrades, which adds value and further increases your equity.
There is plenty of information in the BP education area about 203k loans and multiplex purchasing that can guide you in making your decision. I hope all is well with you and I hope to get an update on your progress.
Yes I actually closed on my primary residence back in DEC 2015. I wasn't a fan of the way that other gentlemen did business.
Post: HAPPY BIRTHDAY, JOSHUA DORKIN!
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Happy Birthday Josh,
Thanks for giving me opportunity!
Best,
Trevon
Post: Advice for my LLC/Domain name
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Originally posted by @Dale Stevens:
That is a complete waste of money on the domain name. You can file a new LLC for just about $500. So save the 22k and just file separate entities, or do a Series-LLC. About 800 for the main one and less for each sub after that.
I'm definitely not wasting $22,000. I was only considering doing the 110 a month lease. Do you know anything about DBAs ?
Post: Advice for my LLC/Domain name
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
I need some advice. After a lot of contemplation, I've decided forming an LLC would be best for my business.
My original plan was to name my LLC: Peracca Enterprises, LLC, and file a DBA for Chicago Home Buyers. When I inquired to see if the DBA of Chicago Home Buyers was available they told me that it was. They also said I could just form as: Chicago Home Buyers, LLC.
I am still figuring out how this works, but what I do know is Chicago Home Buyers is a premium name. I would imagine this would be a great business move.
On another note, I looked up the domain for Chicagohomebuyers.com and it cost $22,000.00 to buy it out right. Something unique that I haven’t seen before is they also offer options to lease the domain and rent to own. The monthly lease is $110.00/mo. Do you think this would be worth it?
Only reason I wanted to do Peracca Enterprises then file a DBA, is because when I start doing buy and holds in the future I do not want to hold them under Chicago Home Buyers.
Thoughts?
Post: Multifamily passive investing
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
@Don Scott, Fantastic! Well please let me know if you are ever looking to do business in the Chicagoland area. I am currently only wholesaling, but i would like to start in 5+ multifamily Buy and Holds once i can secure good financing.
Post: Series LLC
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Does anyone here use a Series LLC for each property they own?
Can someone please ellaborate on the Pro/Cons of a Series LLC versus a standard LLC.
Post: Multifamily passive investing
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
@Don Scott I think that you can do some great things if you are bringing capital to the table. Are you open to investing out of state?
Post: Outsourcing my Wholesaling business.
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Originally posted by @Dev Horn:
I hear you @Trevon Peracca and completely understand. You have to start from where are - we all do. I didn't mean to discourage you, but I do want to challenge you - if you are going to do real estate investing - to do that personal piece, the connection with the seller the very best, most personal way that you can.
I don't like calls going to voicemail, but some people have to do that because that's their situation. Going to a VA can be better than voicemail, but if the VA is just a data entry person that does not know real estate or your area, the caller can be frustrated by that.
I was wondering how you would respond to my question of whether you had time for this. What I see is you do have passion for this and you are thinking about creating a great experience for the homeowner who contacts you. Do what you can, as you can, improve your process over time. You can do this, and do it WELL. I wish you the best Trevon!
"If you really want something, work hard, take advantage of opportunities, and never, ever give up. You will find a way." ~ Jane Goodall
Dev, you seem to be a very sharp guy. I imagine id be the same way once i am in your position. Since the last time we've talked i have ran 2 direct mail campaigns. The first one did not go so well, i made a amateur mistake of not filtering my first list by equity so i was not able to work most of my first batch of leads.
Since then I began working with Jerry Puckett who has setup a great direct mail system for me that has given be better results for a fraction of the price. He also linked me up with his friend Ryan who runs a call center with receptionists who specialize in real estate. They take my calls and set appointments for me on the spot.
Things are going in a better direction.
Dev, have you developed a business model on how you scaled your business? I am interested in learning how the successful investors are scaling. I want to get an idea of how fast I can scale my business, when the right time is and the risks involved.
If you are willing, I would love to learn anything you have to offer.
Best Regards,
Trevon Peracca
Post: Multifamily passive investing
- Wholesaler
- Chicago, IL
- Posts 245
- Votes 102
Originally posted by @Don Scott:
Trevon Peracca I mean investing as a JV, a partner, and even as a passive investor to own a % of the LLC that will own the business.
That being said, what would you bring to the table in the partnership?