The first few steps before the purchase

[David Decker]

What's going on everyone! Before I ask my question, I'd like to fill you in on my REI back ground.

I'm a huge Robert Kiyosaki podcast&book fan. As well as Passive real estate investing with Marco santarelli and ofcourse BP Podcast as well. I'm currently buying and reading plenty books on REI and really learning (textbook) before I get my hands on.

Iv previously just sold my first single family home.

 Purchase price - 165,000 2-lots

Downpayment - 6,000 

Repairs - 30,000

Sold - 230,000 - 1lot - my check was 62850$

Holding vacant lot for future sale.

Vacant lot Assessment price at 51,000 2015 I'd like to sell for 20,000 when the time is correct. Lived in the house for 3 years

Now. After my payoff on my car and credit cards, and my private money I'll be left with roughly (35,000) liquid. 

Now for my question.

Before I find a deal, I thought it would be a good idea to open an LLC Structured by corporate direct and add my vacant lot that I hold under my LLC? Next I'd like to pick up a single family home or mobile and get a renter in it? Before I do that, would anyone recommend I find a property manager to work with my homes before I buy? Or shall I buy and then find a manager? Also - how would you recommend my tenants pay? Should I have a website up and going?

I would like to have my foundation up and going before I jump. And I'm willing to add value to anyone anyway I can. Sorry I'm super new and I understand its rude to ask without being able to add value, but a little guidance would take me a long way.

[Aaron K.]

I would talk to managers before buying that way you can ask them what the estimated rent value is on a property before you pull the trigger.  As long as you don't overuse them on things you aren't close to buying they shouldn't have a problem with it.