All Forum Posts by: Brian Oberg

@James Wilcox From the research I have done, all the sub-series LLCs are opened in the same state as the parent and then registered in the state the property is as a foreign entity.  You are absolutely right about the legal advice, which I have pending right now.

@Greg Scott My biggest concern is when our portfolio grows.  And I am not always going to be active duty (actually retiring in the next 2-3 years).  We do have the umbrella policy, so that's a start.  Just feel that as we grow, we need more.

Appreciate the feedback from both of you gentlemen.

We currently own 3 investment properties, 2 in TX and 1 in KY. We live in KY, but are TX residents (I'm on Active Duty for the Army) and will be remaining in KY after I retire in a few years, in which we will become KY residents. We are expanding our portfolio this year and will likely be outside of KY. 

We are considering establishing a series LLC in either TX, NV, or DE, but trying to figure out the pros and cons of it. Any insight would be greatly appreciated. So, where would be the best place to establish a LLC?

@Joe Splitrock Thanks for the two points to remember, will add them to the kit as we look to get better at this.  I especially like the point about small increases rather than 1 large one.  Great advice.

@Greg Weik Thanks for sharing your experience.  We have been a very passive investor over the years and are now looking at becoming more active.  That is a great perspective, something I will add to my kit like the rest.  

@Jonathan R McLaughlin  Thanks for taking the time to respond.  Unfortunately in doing some research I think I may have put myself in that positions where I am well below market value.  At the time of the original rent, we got what the market would support, but it has since gone up and needs to be corrected.

@Nathan Gesner  That is a great way to look at it, I hadn't really considered that.  I appreciate the time to respond.

@Aigo Pyles thanks for the reply and comments.  

How's the market in Memphis right now, that is an Area we considered.

@John Barcellona Thanks for the insight.  We only have 3 in our portfolio right now, so long term stability is key right now.  Overall our investments cash flow positively (not much) as a group, but this one could definitely do more.  Once they move out, we will definitely raise, but right just seems best to keep them happy and taking care of the house over 50-100 bucks a month when in the long run, they are still paying 95% of my mortgage.

James....thanks for the reply.  That is almost exactly our thoughts. I would rather have the long term tenant who hopefully understands they are being taken care of with the rent and therefore take care of the house.

Thanks Brandon.  It's been almost 3 years since the tenants first moved in.  To be honest, I think it is below market value right now, maybe a 150-200 a month.  I have a second rental in the same area, we just raised the sent over $100 a month and the house is about half the size of this one and only 300 less a month.  Plus, there is another rental around the corner that is about 1000 sq ft smaller, although has nicer appliances, but is listed for almost 400 more a month.  

Again, I have been reluctant to raise because I thought it was better to keep the client.  I appreciate your feedback.