All Forum Posts by: Amedeo M.

@Sean Tagge

I am going to read it and get back to you :) thanks

@Dan Engberson

I would not be so sure that exists a place where you can put 500k and forget it. Especially if you want it to work well.

And I have doubts about Turnkey. You will pay a 20/30% more than the average market price. And most have very bad management companies in place.

Since this is your father money and you want to help him, I think you should be very careful and conservative in your choices.

My two cents.

@Keith Andrews

Hi, a lot of people use a management company to manage theirs. How would it work in this case?

Thanks

Hi all, thank you in advance for answering.

1. Excluding a LLC incorporation costs and renewals.

Costs - What are the average costs associated with monthly/yearly accounting/tax reports when a rental property (single family home) is under a LLC owned by a foreign national? Same as owning the property personally?

Yes/no - what are the accounting costs in both cases?

2. Taxes - Does it matter if a company is in Delaware and hold a property in Memphis? (Just an example) I see a lot of people that incorporate in states where the ownership is hidden from public records; they do it to keep them distant from the asset and as an extra protection against being sued.

3. States - Some people have properties in one State and use the same LLC to invest in another state. Wrong?

4. LLC - How many properties or maximum properties value is better to hold under one LLC?

Thank you Folks.

@Danny Keating

Keep learning and reading.

There is a lot of FREE material out there.

Walk around, attend meetings, go see houses. Feel it. Learn the market.

And avoid Gurus. Most are a waste of time. They make money, you spend money on information that can find for free.

@Chris Wharton

Thank you and have a nice day!

@Chris Wharton

Hi - Foreign nationals too?

@Jaquetta Turner

What kind of insurance and protections you have?

@Timothy Lewis why it is? 

@Chris Clothier honest answer. And , at the end of the day, 100% correct.

I see and feel that in US everyone is getting contagious about these investments where you need to find a team, rehab etc. etc.

In Europe is not like that. People with a job keep doing their job, and if have some money buy from sellers or turnkey. In US, whoever have 20k want to be a millionaire investor that start buying and flipping, like its the easiest thing to do, when is not.

I believe every way works if is in line with your expectations.