All Forum Posts by: Amy Lieu

For me, the difficulty is not being able to predict when your efforts will finally tip the scale. With consistency and perseverance, all efforts are bound to take us in the right direction. Connecting with helpful people along the way will just help to propel forward in the most efficient way. Any and ALL insight is valuable at this point of the game!

I haven't been to the property myself but I would assume that you cannot since there is a roadway and another home between our property and the beach.

The decor isn't the typical modern style but everything is extremely clean and in great condition. I'm not sure if updating the furniture throughout the house will have the impact we need to increase the stay lengths. (The number of overall bookings is the same YoY but the lengths have decreased.)

Link: https://www.airbnb.com/rooms/47917021?adults=1&children=...

The property is near the beach but doesn't have an ocean view. To access the beach, tenants have to go a mile away to public beach access. The house does have access to the canal where we offer kayaks to guests.

Yes

We have a 9 bed/9 bath property in Flagler Beach, FL with shared living spaces and a covered in-ground pool. Looking for guidance as to what this property's rental niche could be. One important thing to note is that almost every bedroom has a tub directly in the bedroom, not in the attached bathroom (see picture below with a tub in the back right corner of the room).  The house must have been built with a bed-and-breakfast or assisted facility intent. It is currently being rented out as a standard short term rental but is not performing as well as we'd like. We're looking for a potential pivot or exit strategy. All suggestions are welcome. If you have experience in the assisted facility field, I would love to chat! Thank you in advance.

@Luis Alvarez Thanks for your reply! If we start another entity to manage our original company and apply for loans on our original company's behalf -- could we get access to the same loans without involving the owners of the original company (credit checks, rent verification, etc.)? I'm not sure about the details on how loan qualification works. Thank you in advance!

I co-manage a small, family-owned real estate investment company that is looking for SFH fix-and-flip deals in Kansas City. For our first property, we have $60K cash available for 10% down + rehab costs. This land us around $120K for purchase price and $25-35K for rehab. If you are experienced in fix-and-flips and investor deals, please reach out!

Text on the operating agreement:

"The Managers shall have the sole and exclusive right to manage the business and affairs of the LLC in either of their sole discretion without the need for prior consent or approval from any other member or manager of the company except as otherwise provided in this Agreement. The Managers shall have the power and authority to take such action that they deem necessary, appropriate or convenient in connection with the management and conduct of the business and affairs of the LLC, including without limitation the power to:

(a) Acquire, sell, and convey real or personal property for the LLC.

(b) Dispose of property, either in the ordinary course of the business or when the Managers determine that such disposition is in the best interests of the LLC.

(c) Finance the LLC's activities by borrowing money from third parties on such terms and conditions that the Managers are authorized to pledge, mortgage, encumber or grant a security interest in LLC properties as security for the repayment of the loan.

(d) Employ, retain or otherwise secure the services of professionals or other persons.

(e) Take any and all other action permitted by law and which is customary or reasonably related to the conduct of the business of the LLC."

I co-manage a small, family-owned real estate investment company that has four owners. For operational ease, our operating agreement states that I have the ability to be the sole signer on purchases and sales, among other things. However, lenders and some title companies still require that all four owners  fill out the detailed loan application processes and sign all closing documents. Getting the four owners available at the same time or to finish tasks within a certain time frame can be difficult and occasionally causes timeline delays.

I am wondering if there is a way we can create a holding or managing company that can manage this LLC that would allow its manager (me) to purchase/sell properties and apply for loans without needing the involvement or information of the original LLC's owners.

Thanks for reading! I would appreciate any insight the BiggerPockets community has about this.

Hello BiggerPockets Community! I'm Amy Lieu, the Internal Operations Director at Midas Touch LLC, a small family-owned real estate investment company. The GM/CEO/Owner, Hari Mann, and I are hoping to get some feedback on the first draft of an Offering Memorandum we created from everything we learned in the Bigger Pocket's recent "Multifamily Investor Bootcamp" course.

(When we originally signed up for this bootcamp, we intended to begin our first syndication, but by the time the course began, the company pivoted back to residential flips. We still found ourselves learning and implementing plenty from the course into our day-to-day operations, training materials, and most tangibly, an offering memorandum of our own.)

I've inserted the link for the first draft of our "Midas Touch BRRRR 20" offering memorandum here. We would be very grateful if you could give us feedback! (This is not a true syndication, as we are reaching out to our close family and friends circle of investors.)

Thanks for your time and thanks to the team for a great Bootcamp! We hope to see everyone at the 2023 BPCon in Florida with good news on this project.