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All Forum Posts by: Robert Baez

Robert Baez has started 9 posts and replied 21 times.

Classifieds

Post: Looking for a CPA

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

Looking for a CPA in the Richmond VA area that can meet regularly to discuss best strategies for single member LLC and general tax questions. Looking for a long partnership. No fear of commitment here!

1 Vote
Starting Out

Post: LLC Creation Advice!

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13
Quote from @Sean Constable:

@Robert Baez go with an attorney so he can address your specific needs. Legal Doom is not the answer

Legal Doom is hilarious. I’m definitely going to look for some legal help outside of them. 
0 Votes
Starting Out

Post: LLC Creation Advice!

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13
Quote from @Henry Clark:

Stay local with your team.  Ask the largest local commercial realty group who they recommend for legal and taxes.  You want a team and not a service.  

Thank you. I will look into this. 
0 Votes
Rehabbing & House Flipping

Post: Need Help with creating LLC!

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

Hello everyone,

Have two questions for the BP community.

Should I create the LLC in the state that the work will be completed in?

Also using Legal zoom to create and unsure if I need some of the added services attorney plan, but also want to know should the industry type be real estate investing?

Thank you all for your help!

0 Votes
Starting Out

Post: LLC Creation Advice!

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

Hello everyone,

I'm looking into utilising a business formation service and am unsure of who to use. I've looked into Prime as suggested by Pace Morby as well as ZenBusiness and Legal zoom and don't know where to start. The plan is to create a holding company that owns the LLC for fix and flips. Hoping to have a service that may have a CPA or a legal team to help on that end as well.

Any advice will be greatly appreciated.

1 Vote
Ask About A Real Estate Company

Post: LLC Creation Advice

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

Hello everyone,

I'm looking into utilising a business formation service and am unsure of who to use. I've looked into Prime as suggested by Pace Morby as well as ZenBusiness and Legal zoom and don't know where to start. The plan is to create a holding company that owns the LLC for fix and flips. Hoping to have a service that may have a CPA or a legal team to help on that end as well.

Any advice will be greatly appreciated.

1 Vote
Richmond, Virginia
Starting Out

Post: Where to start investing?

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13
Quote from @Kaja Baum:

Hello and welcome @Robert Baez!

 What @Jesse L. Weaver said is right on the money. It depends on your goals and risk appetite. I'd add house hacking to the potential list since if it's your first purchase then it makes a lot of sense to not be renting if you're paying anything close to market rate rent. Plus, if you already own a primary, congratulations on your first investment property! You can buy a second one now. 

Just keep in mind that if you're doing a fix and flip or Brrrr, be sure to calculate a generous overage with your holding and rehab costs. Especially your first time around. Things go wrong and I too often see people saying (especially with hard money rehab loans) that they have X amount of money to cover down payment and that's what they're spending. 


Don't feel like your first answer is the forever one either. You might try a class C high cashflow neighborhood and realize you hate it and move to something else for the second property. It doesn't need to be a perfect decision. You just need to make the decision and not screw up so bad that it takes years to recover. Good luck!

Thank you. Wish we could have a multi family in Chester to house hack but I don’t believe there are any here. Ideally that would be the first move. 
0 Votes
Richmond, Virginia
Starting Out

Post: Where to start investing?

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13
Quote from @Chris Merchant:
Quote from @Robert Baez:

In the event that you guys have an estimate of about $50K liquid. How are you starting out? Do you look at fix and flips if you’ve never done them or buy and hold which you also haven’t done?


 Do you currently own the house you're living in? If so are you happy there?  


Love the area we are in. Have not purchased. Lived in VA for a year now.

1 Vote
Richmond, Virginia
Starting Out

Post: Where to start investing?

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

In the event that you guys have an estimate of about $50K liquid. How are you starting out? Do you look at fix and flips if you’ve never done them or buy and hold which you also haven’t done?

5 Votes
Richmond, Virginia
Contractors

Post: Real Estate by the Numbers!

Robert Baez
Pro Member
Posted
  • Posts 21
  • Votes 13

Just received my copy and looking to get through some strategy for deal analysis. Hoping to connect with some contractors in the Richmond/Petersburg VA area to get working on some projects.

0 Votes