All Forum Posts by: Andrew Bodiford

I recently starting listening to the Listen Money Matters podcast, and they were discussing Roofstock on one of their episodes. After a quick look on the Roofstock website, I found some properties in a nearby market. I typically only look in my local market since I self-manage at the moment. Has anyone used this website before and closed on a deal? If so, do you have any reviews for this service? 

I am a little hesitant to move forward since I like running my own numbers, but I did want to hear reviews of this service.

Thank you!

Andy

@Parker Stiles and @Angie Williams thank you for your response! I appreciate the insight on obtaining an LLC and property management!

I am new to real estate investing, and I will be closing on my first property this month! I do have two quick questions:

1) I have just finished reading the ABCs of Real Estate Investing by Ken McElroy. Among other topics, the chapter on property management really stuck out. He discussed the numerous pros to hiring a company in the beginning. I do plan on obtaining more rental properties (hopefully in the near future) so is it a good idea to hire a company at this point in my investing career? The company I am looking at does provide a discount for multiple properties. The property I close on this month will continue to cash flow with the fees charged by the property management company.

2) Should I obtain a LLC or just have an umbrella policy to cover my assets if something were to happen on my rental property? I have read the pros and cons of both options, and I wanted to get other investors opinions on this.

Thank you in advance for your help! I am located in Charleston, SC and would love to hear from other investors.