All Forum Posts by: Tony W

I'm looking at Atlanta's Hard Money Lenders. Does anybody have any opinion about PeachStone Capital, Medici, or Piedmont?

#29 Know your exit strategy before you buy.

#30 Make your money going into the deal.

#31 If you have rentals get a property manager.

I'm not sure if its a good or bad place to start but you should check the job and population growth in the area. If its flat or declining then i would stay away.

Go to the Real Estate Tools on the left hand side, its the 2nd link.

If you want to flip I would use something like.. ARV * 70% - Repairs - Acquisition Cost - Holding Cost = MAO

WOW, that is sad. I wonder how people can live like that. Thats a prime example of why you need to screen your tenants.

At least they own an ironing board, I guess they don't want to look like slobs.

And nice pile of choice butts.

When I set up my llc, I thought about going to one of those online sites. I read that setting up your LLC is only like 10%. The real protection is how it is set up and you need an attoreny for that. Things like resolutions, notice of meetings, minutes, etc. Some of the stuff i still don't understand. If you have limited knowledge, then I would suggest you use an attorney who can explain in detail, what needs to be done to fully protect your assets. "You don't want to be exposed" - thats what the lawyer said.

I went with the attorney simply because of my lack of knowledge. Now I know, I have a solid entity that will protect me. Mines cost around 500 in nevada. Its ok, if you want save some money and to get it online, but make sure its compliant.

One hot roll of the dice can pay for that!!!!

Thanks for the welcome.
In fact i'm getting to leave right now to the meeting tonight. See you there

Hello everyone,

My name is Tony and I recently quit my job as a poker dealer to pursue real estate investing full time. I've been planning this for some time and i'm now ready to build my own business. I am just starting out and don't have any pratical experience. Any help I receive will be greatly appreciated.

I am focusing on cash flowing condos with little or no rehab in the Las Vegas market for now. My goal for the rest of the year is to purchase at least 6 of these cash flowing properties with a monthly income of $1000 or more and a minimum equity position of 150K .

I am making offers on condos in las vegas. I have interviewed a few management companies so far and would like to add more. I am going to a REIC meeting tomorrow and will ask for referrals. Does anybody currently use or know any good property managers in the vegas market? Thank you for your reply.

Short sale involves the bank and takes a long time. The best way is to ask the owner will he take whats owed on the property. Like you said the owner wants his debt cleared and this is the fastest way. He would most likely say yes to save his credit. He gets what he wants and you get what you want. Just Ask.