NEW TO BP. BRRRR MOTIVATION AND SET UP

[Wendell Burris]

Hey everyone. I'm new here to BP and hoping to get some great advice and encouragement. I'm looking into the BRRRR strategy and currently building my team. I have run into a few questions, really just wanting to make sure I'm doing it correctly. Any help would help.

- setting up a business entity. I have interviewed 4 asset protection firms. Which way do I go? One says to get an LLC for every property and have a holding company manage those llcs. While the other says just use a Nevada LLC to hold all your properties as you put them each in a land trust. Any pro or cons to these? Any work better than the other?

- I plan on using a PML to fund the deals and repairs. Should the money from the PML pass through to my "business entity" that is set up to hold properties or should I create a separate entity to purchase and repair or just have all the money go to me? Which way would be best practice and what does that look like?

- PML calculator available? New here and not sure if one exists already or if just using the deal analyzer will do the trick. I think I'm thinking too hard about how I calculate this. Example, let's say I offer a PML a 12% annual rate of return. I finish the deal and refinance in 4 months. Do I pay only 4 months worth or a straight 12% profit? Or is this just however the deal is structured? What does each look like?

Thanks in advance for any advice on these!