All Forum Posts by: Andrea Lane

I was in the New York/New Jersey markets and finding it difficult to find deals we wanted in our backyard.  I researched areas outside of our comfort zone, built a team in alternate markets and now own and grow rentals in Jacksonville, Baltimore, and Pittsburgh, we will be in Texas by September.  Prior to the pandemic it was relatively easy to find great deals, but there is still a market for good deals.  If you will be investing outside your knowledge base make sure you build a strong team in the area to support you.

I use an LLC for our passive acquisitions (up tp $1M per LLC). I like the idea I may have additional protection from lawsuits. You do not need an LLC until you are ready to sign a contract. Check with your state or lender if your LLC needs to be in the state of purchase or it can be in a state with better protection.

I have been told you can purchase multiple accounts with frannie/freddie backed mortgages in your personal name, but I have only purchased my home in my name and I am looking to move that into a trust.

It is all about your goals and your risk tolerance.  I would be purchasing as may properties with the least leverage to build my portfolio quickly.  You can let the tenant pay the mortgage down, you can also put your monthly cash flow into paying them off quicker.  If you just want one or two properties then go for the higher equity.