All Forum Posts by: Alpesh Parmar

@Alpesh Parmar I’m literally trying to do exactly what u described. I have no problem going to the area I wanna invest n just working from there until it’s done. If you can give quick n helpful pointers I would greatly appreciate it. Like how much was your first investment? How did it take for you to sell the investment , if you were selling the home?

My first investment was a disaster but I took is as learning experience. Even after losing most of my money with a small turkey provider in Cleveland, I decided to continue. I ended up buying 4 more properties through TKP and learning a lot along the process. I sold 3 of my properties through the same TKP so I didn't have to work hard. I haven't sold any of my newly acquired properties so not sure how hard or easy would it be.

1 Vote

@Brian Ellis I am not an attorney or CPA but a business owner who owns a C-Corp, s-Corp and multiple LLCs. I don’t think you can compare S-Corp to LLCs or Trust for buy and hold rental Properties. S-Corp should be used for running a business, for example flipping. You should compare trust vs LLC and decide which one makes sense in your scenario.

1 Vote

@Elenis C. I agree with others about fixing windows with issues. As a landlord, you would want the property to be in good shape.

0 Votes

@David Waddleton I live in Bay Area and have been investing OOS since 2015. I didn’t know anything about the cities when I started investing. Now, I fly to the city, build my team and focus on certain neighborhoods in that city. I would say pick 5-10 cities and start researching about employment, neighborhoods and rents etc. you can focus on mid-west or sun belt cities to get started.

26 Votes

@Steve Sun totally agree with @Jason DiClemente. You can get double digit return or you can lose your original investment. I live in Bay Area and invest OOS. Be careful, if someone tells you that you can buy below $75K houses in Atlanta, Phoenix, Orlando and lots of cities in your list.

1 Vote

Originally posted by @Joanna Lenn:

Originally posted by @Alpesh Parmar:

@Joanna Lenn S Corp doesn’t make sense if you are not going to have anything in that Corp except rental properties. S-Corp is for small business owners like me where majority of my income comes from the S-Corp. Flippers should use S Corp instead of an LLC as flipping is an active business. For rental properties, LLC is the way to go. I am still not sure how you will be able to write off anything if you go to S Corp or LLC if you are only going to ha e rental properties in it.

Well, it would have my work in it - my W2 entertainment industry job. My CPA said it's my choice if I want to include the rental business in the S-Corp. But thanks for the info. Sounds like everyone loves LLCs!

How would your W-2 pay come to S-Corp?

I love my S-corp as that's where I get bulk of my income. I am not a full-time employee so all my consulting income flows through my S-corp. You can not compare LLC to S-corp. S-corp is for small businesses and LLC is for asset protection. LLC is not even recognized by IRS as a tax entity so if it's a single member LLC, it just acts like a sole proprietorship. If LLC has more than one member, IRS recognizes it as a partnership.

BTW, you can also file LLC taxes as S-corp. Hope this helps.

0 Votes

@Scott Scharl Funny, huh.. advertising in US and don’t have subscription documents in English. Tell them your attorney wants to go over all the documents so you would need these docs before making any decision.

0 Votes

@Ricardo Carey I am from Bay Area and invest in Atlanta. Start going to local meetups and join an REI for networking.

0 Votes

All Forum Posts by: Alpesh Parmar

Alpesh Parmar has started 18 posts and replied 329 times.

Post: Scared of borrowing from hard money lenders and not make profit

Post: Best Cities to invest in under $100k

Post: Best Cities to invest in under $100k

Post: Trust Vs LLC & S-Corp

Post: How to reply to tenant if you don’t want to fix certain things?

Post: Best Cities to invest in under $100k

Post: Best city/area to in buy and hold for cash flow in the U.S.

Post: Tax man says "Become an S Corp" - thoughts?

Post: 35% a MONTH return -- Sketchy Ad from Grant Cardone?

Post: New Atlanta Investor: 30K Saved, What Now?