Seeking Advice on establishing an LLC

[Primrose Nyahwai]

Hello Bigger Pockets Family

My name is Primrose but a majority call me by my middle name - Eve- and I was introduced to BP about 3 years ago when I was a recent college grad by a very sweet woman I met at my sister’s wedding. Though I did not participate on this platform at the onset, when I joined the first webinar by Brandon, somehow I started getting the weekly articles through my email and I would read a good portion of them. They were quite insightful and that made my interest in real interest grow. Actually that is when I discovered that I might have a future in RE. Recently, I started binge listening to the BP podcast and I started from when the first podcast was launched and I’m going through each year. I finished 2013 and now I’m going onto 2014. As you can see I’ve quite a long way to go but if I finished a year’s worth of podcasts, I sure can fish all of them this year!!

2 years later I bought my first home in Jersey City- a 2 bed 2 bath condo. I rent out the other room and that helps a lot with my mortgage so I’m able to put a bigger portion of my salary towards my savings.

Now I want to take this seriously! I’ve learned quite many things from owning that condo, renting the other room, and dealing with HOAs etc. I still consider myself new to RE investing because there is still a lot I need to learn because there is still a lot I’ve not yet done.

However, from all types of investing I’ve been reading and learning about, I think I’m interested in buying to hold and renting these properties- mostly single family homes and maybe multi-family units. I’ve a group of friends who would like to invest with me - somehow I was able to pitch my plan to them and they believe me because they see how determined I am and know that I’m a person who finishes what she has started, has a good work ethic, and will do whatever it takes to get work done.

We would like to start by exploring the Delaware market and we were looking into LLCs. I've read several articles here on BP about LLC and have some base knowledge about them but I wanted to seek more expert advice here regarding how we can get started with them, some uncommon things about LLCs or incorporating in Delaware that we should know, and other things. If there are any lawyers here that are also investors in RE, I would be interested in learning from you and subsequently work with you/hire you when we eventually move forward with this.

A bit of some background about me that I didn’t share at the beginning of this post is that I’m a soon to be CPA (waiting for my license to be issued) and I work in public accounting doing Tax Consulting. I’m also an immigrant who came to this county 9 years ago for undergrad with just two suitcases and a big dream. Thankful to the founding fathers of this country and everyone else who on a daily basis sacrifice their energy, brains, time, and grit in building systems that work and in also believing in anyone who can.

Again, thanks for taking some of your precious time to help me on this and I truly appreciate your help and advice. Happy Memorial Weekend!

Best,

Eve