OK… anyone else knows of any laws limiting you to how many buy and sells you can do every year?
My lawyer said you can do as many as you want, but after 2 deals per year you will have to pay income tax on profits…True?
Ok maybe this is a newbies misconception but I read in the “Ad” the part where he stated
I am 25 years old and my credit is not the best, and unfortunately I don’t qualify for 100% financing.
Next hytechceo stated that
he seems to be a very successful web designer, he did a website for a resort in Dom Rep and has been doing Real Estate eversince. I know he has money to back it up. Nice house, nice car, very expensive wardrobe....I’m going to give it a shot… I would appreciate any legal advise you guys can give me to protect me.
Now two things
1.) I know that there are people with loads of money that might have bad credit. But I would say that someone who is “into” Real Estate Investment would want to better his Credit at the same time as investing, so if he had family doing it 2 houses per year for how ever long… how has he helped his credit so he wouldn’t need these outside investors?
2.) If you ask everyone for their advice and they all say “Don’t do it, sounds like he is scamming you” then the best protection would be not to get into this.
I have a friend who is a Financial Advisor and his claim is that when he brings new people into his office he will show them his portfolio so they can see he is a doer not just a talker. I would look into this persons past deals and see how he did in general. But if everyone else telling you it seems like a scam or shady activity and you keep coming back with “I’m going to do it, but…” then I think your mind is set on doing it and no one here will change that so I hope you don’t get burned doing it. Good Luck.