I’m a newbie and I’ve always wanted to become a real estate investor. I’ve taken real estate courses, read a ton of books, read the weekly real estate section of the paper for years, followed this blog regularly and met/talked with real estate agents. The time is right to take the plunge now.
I have 200K cash to do whatever I want with. I’m planning to open an LLC. I’m not sure which direction to go as I’ve never done any real estate investing. I am leaning towards flips just to get my feet wet. Another option is to buy and hold.
I’m located in Southern CA and would love to get some advice. I’m in dire need of a mentor who can help me to become successful. I’m eager to learn and I have a lot of time on my hands. I have no family obligations.
I would appreciate any advice or guidance you can give me,.
Remember that with LLC, you will have a limited liability protection on your assets. personal assets are not included in the LLC so these cannot be sequestered when problems do arise.
In getting foreclosed property you can approach the owner of the house or property and just make an offer before it gets foreclosed or called pre-foreclosure purchase. Another is bid on a property that very well place up for sale at public auctions. You can start with these options in building your real estate business.
My name 's Nick! I like chilling out , chatting and having fun! I can’t wait to make new friends! I hope everyone will treat me nicely .
By flipping do you mean flipping contracts or buy, fix, sell.
In terms of flipping contracts you would be best advised to use several llc’s which you can sell in case of “Non-assignability” clauses.
Welcome to the forum Nick :smile
Hi,
Hope you all are enjoying good health. I just become new member of this site and share my ideas and thoughts to others as well as want to get knowledge from this site.