All Forum Posts by: Andres Calderon

@Joe Stout NO! never ignore new information it could potentially help you avoid making costly mistakes!

Great post! For what it's worth here's some info but don't quote me as this depends greatly as many said above on your specific situation AND state laws...also I am not an attorney just knowledge from what I may or may not have done for wealth protection this might also be an over kill starting out but one can never learn enough maybe for the future😊

I would go with Land trust. They are tricky but one of the most beneficial devices used for ownership of real estate. If done right they can keep ownership private, avoid probate, keep sales price private, easy management by multiple owners and have a couple more benefits. The best way to set up a land trust is to do so when you are purchasing a piece of property and have the seller deed the property directly to the trust. This way your name never appears in the public records. The second way to structure it is to buy it in your name and then deed it into trust. The only real time you would go with the second method is if your lender required the property to be in your name in order to do the financing (AVOID lenders with this requirement if possible). While a land trust provides privacy, events like a death occurring on a land trust property a victim can find out who the beneficiary is and they can be liable.

Now for my favorite part DOUBLE ASSSET PROTECTION.. To counter that situation many have their trusts owned by entities that protect from liability such as LLCs or corporations. While an LLC can protect an owner from liability on a property the liability can be against everything an LLC owns.. so when you have several properties.. Have a separate LLC own each one. In a husband and wife scenario the draw back to two member LLCs is that they would need to file separate tax returns and this could get costly once you have several properties. The Solution..set up a single-member LLC for each land trust property, but then have them all owned by one multi-member LLC. Singe-member LLC income passes through to the multi-member LLC which files one tax return for all properties. The owners of the multi-member LLC receive schedule K-1 from the multi-member LLC which they file with their tax returns.

 In conclusion there are tons of ways to structure this it really depends on your own personal situation. Hope this was helpful!

Best of Luck !

Regards,

Andres C.

Congrats on your project and new home ! It looks very interesting update us as you go along with it. As far as attracting foreign investors to places like Guadalajara, Mexico I'll be honest and say that's a tough one. I Have built some apartment buildings in Colombia but in all honesty that is not something I even mention in the states for the culture, society and system is so different it is hard to understand. Attracting "investors" to third world countries is quite the task there are many factors that come into play such as do they even know anyone down there for references? Are you the only contact? Is the money safe down there? Most "Investors " don't ever go out of their zip code now imagine a whole new country. I see your project more desirable to those who actually want a change of lifestyle. Those who are done with their every day routine and have some savings and give it a go at a bed and breakfast type of story, that's a big market you can tap into.

Best of luck !

Regards,

Andres Calderon

A Rehab check list is subject to the condition of your own property it's very difficult for anyone to give you a checklist because every home is in different conditions. Typically to give you an idea at least what increases your value on the property is the kitchen, bathrooms new roof tile flooring throughout I mean it's just so subjective to your budget and your end goal?  For me a rehab is a complete gut down to the support beams lol 

As far as the J.V.A from what you're describing their duties are, I would suggest just a flat fee or pay them by the hour type of deal?

Joint venture agreements in real estate usually come into play when money is on the table from both parties.

Example... I have the land you have the building capital we split the profits 50/50 something like that.

Hope this was of some help !

Regards,

Andres C.

Great post @Jon Martin had some great points like the lower income scales. I would start by looking at some travel destinations ? Where would you go for a couple months in Europe if you were living in the states? I would suggest Spain and Portugal they seem to be well balanced in "most" aspects. Italy no, I lived there it's a nightmare to do business their whole system is a sophisticated third world country.

@Marcos Carbi From personal experience and coming from a family that does both commercial and residential real estate I suggest using a simple strategy we use to filter properties to even see if they are of interest. Take the gross, Knock 50% right off from the start and run your numbers with what is left. I see many investors make the "numbers fit". Don't. If your numbers work by knocking off half the gross it's a good deal. Most don't do this because it will throw about 75% of the properties you come across right out of the window so people get frustrated and settle with what they find. By doing that you are subject to the volatility of the market and at a much higher risk of losing money on a deal. Hope this helps you filter out what is a good and mediocre "deal".

@Jeff Pracht 

I would definitely advise you to be courteous and have tons of PATIENCE. Last thing you want is someone swinging some hammers in there. I usually offer to pay for the moving costs (within reason..none of this cross country stuff) and first 3 months of their new rent, it's worth it to avoid a complete nightmare. Many times they are so grateful they leave the place spotless. 

@Lau Jacob Of course ! It was my pleasure glad it was of help to you try to keep your template simple though. In the US outside of florida not that many just in Colorado and Texas but as a passive investor.My second market besides florida is Colombia, I do a good amount of new construction there. It's mostly smaller resorts for tourists but I also do long term rentals in there for select locals.

Nick Britton .... That statement shows your ignorance, lack of knowledge and in return showing your limited amount of success also shows what kind of deals you find.  A real Professional AND educated person would have asked me where and how I was able to find deals like that...after all that is what this website is for to share knowledge but based on our conversation alone in my DM that would be expecting to much from you.

Once again good luck on YOUR investing career nick.

@Brian Garrett 

Sorry ! thought PBC was BPC (bigger pockets community)

No that was up north near Orlando. If you want some good rentals you have to leave this 

tri-county area. Only properties worth purchasing here are found at the auctions.