All Forum Posts by: Aaron Law

@Shiloh Lundahl Thanks! I'll reach out to Sean.

How is it?

Seems like great average daily rental cost and year round demand. Anyonev with personal experience?

Any real estate agents work in Tybee Island that would be interested in chatting?

For protection of assets, ease of creation, tax benefits, along with any other benefits, is Nevada the best state to create an LLC? Any companies or firms you would recommend? If not, what estate and company/firm would you recommend, any why?

Thanks!!

I have a new build in FL in a construction loan that should appraise high enough that I plan refinance and pulling out equity to use as a down payment on another property.

Any great investor friendly banks you'd recommend?

Thank you!

@John Underwood Is your Excel sheet something you created, or was shared with you?

Happy New investors!

I currently have 1 commercial property and 1 LTR property. As I'm building my portfolio of real estate I'm wondering what the easiest way to set up bank accounts as well as keeping track of tenant's payments, late payments, taxes, lease agreements, running cash flow estimates, lists of maintenance items to tackle and those that are completed, interest rate on loans, last date refinanced, years remaining on loans, etc. for each property? It'd be nice to have a comprehensive review of each property on an on-going basis that's quick to access and see where I'm at with each property. Are there spreadsheets available for this? Software? Quickbooks? How do you all do it? Thank you so much in advance?

@Daniel McNulty It would be great to hit at least $10k monthly while using property managers. This way I can ween off my regular occupation over the next couple of years and then gradually consider being more active in managing my properties.

@Chris Stroup I will soon have 1 SFH that will be managed by a local property manager. I'm new to real estate. I'm interested in building a cash flowing passive income portfolio to replace my current income. Right now I don't have the bandwidth or experience to actively manage my properties, although in the future this may be an option. Adding a vacation rental or two would be nice to have the rental income but also a spot to vacation in when we want. Right now I'm trying to learn more about single family and multi family homes, and self-storage units.

@David Thompson Thanks for the great advice! I plan to initially have properties managed by an outside company until my cash flow out paces my current income and I can stop my regular occupation.

@Jordan Moorhead Good to know. Until I free up some time, passive investing is most likely to happen. Any great sources for properties? How about property management companies?

@Carlos Ptriawan Good idea. If I do decide to pay off student loan debt we would immediately gain $2500/month in income. How much or little does this matter in terms of debt-to-income when getting financing?

@Alexander Szikla Thanks for the advice! I would hire a manager. It'd be great to have at least vacation rental as long as it's highly rentable. Any advice on towns/cities for vacation rentals? Something that is attractive in both summer and winter. I'm toying with paying around $150k off starting with the highest interest rates. I do have 1 commercial property at this time, but a little concerned with vacancy issues unless the commercial prop were to have numerous tenants. I like the sound of tri/quads, I'll look into it. Thanks!

dth to actively manager the

Hello wise investors.

Hoping to get your opinions.

I may have an opportunity to invest a very sizeable amount of money from the sale of a business and want your thoughts on how I should invest it. I will still continue my regular 9-5 at least until I'm cash flowing enough to replace my salary. Here are a few possibilities I'm considering:

1. Dividing the $800k into 20% down on a bunch of single family homes, duplexes, quadplexes.

2. Putting the full $800k down as a down payment on a large apartment complex.

3. Investing in 2 'high end' short term vacation rentals properties (places that I would visit and travel to frequently) that would be in a highly rentable location. What location? And then dumping the remaining money into as many sfh rentals as possible. How much cash reserve do I need to hold back that lenders will want to see?

4. We have remaining student loans. $150k for my wife and $100k for myself. Do I need to pay those off to improve DTI, or is it better to invent in RE to get the tax benefits, appreciation, debt pay down from rent, etc?

5. Or another combination of the above?

6. Any investments not mentioned here that I should consider?

7. What else should I be thinking about?

Initially, until I can stop my regular occupation I would most likely use a property management company.

Thank you so much for your time and thoughts.