All Forum Posts by: Brian Camp

Hi All! - I am looking for a recommendation for a real estate knowledgeable CPA, with experience in out of state real estate investing in the area that I can meeting with in person. I need someone with some existing knowledge of Real Estate Professional designation combined with out of state management.

Thanks in advance - Brian

Welcome Marcella!

I am also originally from the Pittsburgh area, and wish you luck getting started.

@Sarah Becker - Back to Ocean Shores. I bought a lot on Sandune Dr (which I still own) about 10-ish years age. I originally bought it as a get away from Seattle that I planned to eventually build on but I never did. Spending time there throughout the years I have also toyed with the coming up with an investment angle for the town. But no success yet, so I am very interested in the conversation.

One FYI, back after I bought there was a national real estate infomercial company that sold a bunch of undeveloped lots to out of state owners on contract. I have watched these out of state owners start dumping their lots, and don't think that process is over yet. The key stat I watch for Ocean Shores is the number of building permits, and according to the town paper that it trending up in 2015.

I am definitely a little late to this thread, but I am interested if you did end up running numbers. And what for, rebuild or repair?

@Sean H. - A large investor came in to town recently and overbuilt high-end student housing for a school with stable enrollment. My .02 is that if you are interested in that area, hang back and watch for the next couple of years. I suspect high vacancies will force the new high-end units to drop in price and crush the student rental market. That chaos may result in some good deals.

@Alex Chin - I am still looking in the Seattle area and even willing to look furher out in WA since I have lived here long enough to learn some of the surrounding areas. When I first started real estate investing (before mortgage crisis) I was living in Seattle and most of my friends decided to play the the Seattle appreciation game and forgo cashflow. Some of those friends ended in forclosure, but the ones that were able to hold on did pretty well after values picked back up since the job/rental market has always been strong.

I will definitely look to get in to the Seattle meetups. Thanks!

@Sean H. - I invest in PA from Pittsburgh east to IUP

Thanks @Account Closed ! I have signed up.

Thanks @David Dachtera .

Hi All.

Is there any benefit to setting up an Single Member LLC in a state where there is no state income tax (and my current residence so I have an address) to hold properties from a state with an income tax?

As opposed to just creating the LLC in the state where the property is located that does have an income tax.