All Forum Posts by: E Martin

@Al Williamson Sorry to hear about your colleague. Some of the biggest mistakes can be manifested in some of the smallest forms. No one is perfect, so this thread is definitely an eye opener. I like the idea of making personal commitments to practice self accountability. We could all use some brushing up every once in a while.

Good Morning BP...

I can happily say that I have turned the first page in the book of RE Investing!! I have been an agent for some time now, and just recently setup my own RE investment LLC. My business partner and I are hungry young investors seeking advice, on any topics ranging from taxes breaks, insurance, business credit, financing, asset protection, etc. We just recently placed our first offer on muti-family dwelling that has been converted into a 31-unit rooming house. The rooms rent for $400-440/mo, and judging from the rent rolls-- I'll have to roll up my sleeves and get dirty after closing!! lol...

I do have one direct question however... when it comes to lending personal money to my LLC, what method offers the best personal protection? I'm slightly familiar with the tax advantages, yet I have the slightest idea on the BEST method. Please advise...someone!!! Thanks.

Thanks for the great advice Andrew!! I'll be sure to shoot any questions your way as they come. As far as the bi-weekly tenant tracking software, have you ever tried using Excel? I believe that you can set formulas in Excel to automatically track this information for you. I have a friend that's certified in Excel and is pretty good with the formulas, so I'll check with him tomorrow to see if there's any help I can send your way.

Thanks again dude!

How is the whole rooming house scenario working out for you? I'm in the process of purchasing a 12-unit multi-family dwelling that has been converted into a 31-unit rooming house. It's currently being managed by the bank with rents ranging from $400-440 /mo. After viewing the rent rolls, I see that there are plenty of tenants that are behind a few months, so I can just about imagine the headache that I'm walking into!! What kind of advice could you offer to a novice?