All Forum Posts by: Ann Howell

We've used Consumer Reports for years. But with washers and dryers it seems like even the ones that get decent ratings by CR have horrible reviews by people. We just discovered Speed Queen as an option. Has anyone ever used that brand?

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Here's an article from Inc about the importance of self-awareness for leadership:

https://www.inc.com/lolly-daskal/6-proven-ways-to-spot-an-emotional-intelligent-leader.html

Another competency that I might need to add to the real estate list is resilience - the ability to keep going in the face of set backs.

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Can you recommend any websites for comparing appliances? We are looking for a new washer and dryer for our personal residence, and the options are head spinning!

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Hi JD - I like your approach to management. If you can hire great people, they can usually work pretty independently. But hiring is an imperfect science, so you'll sometimes hire people who need more help than expected. And even with a great team of people who can work independently, someone still needs to provide the overall direction and connect the team together. With the teams I have built, I find that we usually reach that point of peak performance that you describe - but it takes us awhile to get there.

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Elbert - I believe that most of your leadership skills would transfer to other industries. And real estate investors also bring hustle and entrepreneurial spirit to the table that is likely to help you shine.

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Hi all - I am interested in merging my two worlds and discussing how leadership skills apply to real estate investors. I published a personal blog post here on Bigger Pockets to lay out my thinking. I'd appreciate some feedback if this resonates with you or not.

https://www.biggerpockets.com/blogs/9903/63197-5-key-leadership-behaviors-for-real-estate-investors

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Originally posted by @Michael P.:

@Jack Gibson I used to put my notes up as collateral with a small local bank. They would usually loan about 80% of the note. I would free up cash and get to keep the huge % returns the notes paid plus all the back end profit once the owners cashed me out.

I no longer own any notes, they were an awesome investment though. Just something to think about other than having to sell the notes to investors at a discount.

That is a really interesting strategy that I have not heard before. Thanks for the comment!

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Originally posted by @Linda Weygant:

Originally posted by @John K.:

Steven Hamilton II - are there any good flow charts that show entity and clearly show different tax advantages/disadvantages? I've read this info all countless times and it's always a struggle to grasp.

I personally have my rentals with a partnership LLC - I think the LLC return and K1 is a win for the reason of it keeps all the rental stuff together, and makes for cleaner personal tax filings with a "summary" in the K1.

I have thought many MANY times about putting together a flow chart or other simple, easy to understand guide for this, but the more you try to outline it and flowchart it, the more convoluted it becomes. Next thing you know, you're just rewriting the tax code.

Maybe it needs to be more of a Choose Your Own Adventure than a Flowchart.

The problem is that there is no cookie cutter approach. No one-size-fits-all or even one-size-fits-most solution for you to just track along with. Each situation is unique and while one option may fit 75% of the people in that situation, it's hard to tell who those 25% outliers are going to be.

My best recommendation is to get with a real estate knowledgeable CPA, go through a long session where you outline your business goals, retirements goals, other sources of income, etc and have them tailor a plan that works for all (or most) of your goals.

Hi Linda -you indicate that a CPA can help set up a RE focused LLC. My husband and I need to do this soon, but I was assuming we would use a lawyer to set it up. Can it be either a CPA or lawyer or do you need both?

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I will be there. Bob - I would love to meet you in person.

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This is an interesting question. I had been avoiding buying notes in a state where I am not already paying state income tax (due to rentals in the state). If it is solely dependent on where I live, I am glad to be in Texas!

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All Forum Posts by: Ann Howell

Ann Howell has started 15 posts and replied 123 times.

Post: Any recs on websites to compare appliances?

Post: As a real estate investor, do you consider yourself a leader?

Post: Any recs on websites to compare appliances?

Post: As a real estate investor, do you consider yourself a leader?

Post: As a real estate investor, do you consider yourself a leader?

Post: As a real estate investor, do you consider yourself a leader?

Post: Need advice on how to sell mortgage notes

Post: Disregarded Entity for LLC?

Post: Who is attending NoteExpo this year?

Post: holding notes in different states under one LLC