All Forum Posts by: Amy Hatcher

Greetings All! I have been receiving conflicting information/advice from several sources regarding the necessity of creating an LLC before/during/after purchasing my first investment property. This has led to more than a little confusion, and a lot of consternation. What is the good, bad, and ugly of having, or not having an LLC?

@Wesley I. Thanks for the input. I've been doing just as you suggested and it's been an interesting experience, to say the least. I am so glad we live in this age of technology where information is readily available and accessible, but do miss the gravitas of a firm handshake and eye contact. I'm putting this out in the universe: WHEN my first REI plan is successfully executed, I will go and personally meet and shake the hand of each of my Core 4 cohorts, and each and every one of my subsequent success circles.

@Lynnette E. it seems like you’ve had similar past experiences as I have, which is why I’d love to put together a great group of people who know their business, know their worth, and know that working together with other amazing professionals is nothing but a win win scenario.

@Matt Gigli thanks so much for the encouragement. That’s what I’m hoping to find here on BP, a group of great, trustworthy people who want to make improvements not only to their own lives, but the areas surrounding them. I’d love to connect and learn from your experiences.

@Ian Walsh

That SEEMS like a good idea, but unless you are starting out with a huge amount of capitol or have really a great team already in place, starting off in a market where the average cost of house in not the best area needing significant work is $700k… not feasible. Especially when cash investors are paying 50-100k over asking just to get in here. So yes, I’d absolutely love to be in my own back yard, but until then, I will do my best to bring improvements and new life to other areas that are good, but just need a little help to be great. 😊

@Ronald Allen Barney

Can I TM this as my intellectual property? 🤣

@Ankit Garg

Thanks for the advice. I’m trying to find teams in each of the locations I’m interested in right now. I already spoke with the realtor, and he let me know the extent of the repairs. I passed…

Greetings all!! 👋🏼

Like many people, I am trying to get into REI. And like many people, I am experiencing some difficulty in the process. While the general advice is invest in your own backyard, for those who know, investing in areas such as CA, NY, WA, and the like is not feasible, for newbies anyway. Therefore, we are looking in places such as LA, MS, OH, and MN. That being said, finding the 4 Core (Deal Finder, Property Manager, Contractor, and Lender) is imperative. Funding can be done locally, but finding good, honest, trustworthy, and AVAILABLE folks in a long distance situation is daunting. Is there any way we, as a community, can set up local CORE 4 groups?

Appreciate the feedback, honesty, and condor of all my PB peeps.

I've found what looks like a potential great MFR in Decatur AL, and would love to know the real deal on this area. It is a 3plex, 1/1, with steady tenants already in place. From what I can peruse online, the area seems nice, no significant crime reports, good school very close by, and no obvious red flags. Any thoughts, suggestions?

@Patrick E. Blankenship

I’m absolutely willing and able to partner up with people, and would actually prefer getting a great team together. Having different strengths from each member makes the team that much more effective.