All Forum Posts by: Bryan Cavellier

Can I rent out my SFH to a year round tenant and make the In-law suit in the house an airbnb? Yes utilities would be included and the 2 units would be completely separated and walled off from each other. I am just asking from a legal perspective if this is an option. If it is not legal could I live in the in-law suit and rent out the SFH to year round tenants? Thanks for the advice!

Hey BP! I heard on a podcast about how ppl run there income rent through an LLC even though the property is under a personal name. So my question is can I do this? Can I have my tenants pay there rent to my LLC and then I can pay myself?

You may ask why you want to do this? My reason is to show money running through an LLC so in two years if I want to buy a property with the LLC then the business will have "history". And that would make my LLC "bankable".

I am just planning for the future as I still have plenty of personal loans left t my name but want to keep this options open in the future.

SO, what am I missing BP? legal issues? insurance or money issues? All advice and comments are VERY HELPFUL, thanks guys!

When flipping or BRRRing is it possible for me to be a GC and just hire sub contractors? I'm looking to learn and save money. I know it may take longer because of this but besides keeping subs accountable to budget/time what else am I missing? Do I have to be licensed? Can anyone pull a permit or not? what else? Excuse my ignorance but I am just new and don't know, thanks as always BP!

@Basit Siddiqi No no, they advised me to work with them (CPAs) when I get into my second deal 

Context: I personally have no experience with a coach. I am 7 months into my first house hack (also a newbie). I live in a market where I can invest.

What I Did: I listened to almost all BP podcasts, watched a lot of youtube, lived on BP forums, and other internet education (didn't spend a dime). I have learned a lot but overall I am in a great place and have been doing well. 

To Answer Your Question: No. If you are able to live within a couple hour radius of where you wanna invest then I say no... Maybe if you are out of state would I consider  a coach because starting out of state can seem difficult for a newbie. 

I actually talked to a couple CPAs and they advised me it would be worth it when I go for property number 2 to talk to them about tax strategy (that includes LLC as well). Curious (I have no clue) why would you say not a corp? In the near future (5 years) I see myself owning SFH and MFH (2-4 units). @Basit Siddiqi

Generally question when looking to protect yourself (personal liability) from your investments (Rentals). Share your experiences or things you do. Do you have a holding company? S or C Corp? Just an LLC?

I am also curious about expenses, reserves, and the financial side of your business. Each property has a checking account for your reserves, repairs, capex, etc. Do you just invest in a good CPA? How many properties do you need for a CPA to be worth it?

Curious on everyone experiences good or bad and general input, thanks BP!

Context on my journey: Currently house hacking a duplex with an FHA loan and looking into my next house hack in the next 6 months and want to make sure I am setting my self up for success on the business side of investing. I believe I analyze deals well and know what I want on the buying and management side of REI but could LEARN ALOT on the business structure side, the tax side, and the accounting side of REI.

Why don't I hear about BRRRRing Duplexes? I feel like it's always brought up on SFH? Am I missing something? Is it more difficult to accomplish? Is the return or margains not as high? Was 911 an inside job (jk) ? Would love everyone's opinion or stories if they have them, thanks BP!!!

Thanks for all the input... I assumed everyone would answer  as I know value is driven by amenities, size of unit, and location of unit but just wanted to double check before I start a plan of what to do. 

@Evan Polaski I would say that my property (both neighbors are rentals as well) look a tad better simply because I take pride in keeping grass maintained... which this answers my question of not doing much "landscaping" on this property.

I currently am house hacking a duplex with an FHA loan. I did not BRRR this deal so refianancing out and using an FHA again is not an option at the moment. I do not have 15-20% for a downpayment to traditionally buy another unit. So my question is, do I buy a SFH (owner occupy loan at 5%) or save up for another MFH to put down 15-20%. Obviously the MFH is going to take about another year or two to save up for where as the SFH should only be another 6 months of savings. Any opinions either way on my next steps or any low money down ways to get a MFH? Thanks as usual BP!!!