All Forum Posts by: Andrew Yu

@Tom Gimer and @Bob Floss II

A follow-up question for you guys, after I grant the authority to someone else outside of the LLC, say his name is Joe Smith. What would the signing format be? Is it going be Joe Smith, agent? Or LLC member, by Joe Smith, agent?

Thanks for the replies guys. I will look into LLC resolution.

My situation is I helped my dad opened an LLC in my state, but my dad is in another state. I'm not a member or manager, and I don't want to be one at this point for tax purposes... So right now when we close deals, he has to use mobile notary. I am thinking if I can just sign on his behalf, eliminating the notary costs. He's the sole member. Maybe another option is add me as an non-paid manager to the LLC? But that would make the LLC a member AND non-member managed company...

I'm wondering if there's a way to grant power of attorney for an LLC to an individual, if the operating agreement allows of course. Also what kind of attorney should I search for to prepare such document?

Hadar, I would like to connect with you when you're here in Little Rock :)

So I signed Lease Option with this homeowner, but she still owes two payments for the burglar alarm company. I'm trying to get her to talk to the company but she's not very cooperative. Her phone doesn't work well either. My question is what should I do to be able to talk to the burglar alarm company on her behalf? Sign a form or something? 

If I put significant amount of earnest money deposit say $1000 to secure the deal, and the deal can potentially profit me say 10K or more. Do I get that $1000 back when I assign the contract to buyer?

Another option you can invest is through self-directed Roth IRA. You won't pay tax anyway through that. Just another strategy I found out.

My advice is try to stay on the passive income side (rentals, notes, lending) instead of active side (flipping and wholesaling). If you can find a willing partner to form a company where he/she is the active member and you as complete passive investor, that would work as well. As far as tax goes, ask your CPA. They know how to handle it. It's pretty standard for them. 

@Brent Coombs I'm thinking the same thing. Since foreign nationals can invest freely in US real estate market, I shouldn't have problems. 

@Percy N. Awesome advice!