All Forum Posts by: Cailyn Aune

@David Faulkner- well lucky you! I'm glad the appreciation bailed you out... WOW. Interesting to hear more of the pieces to that puzzle. Keep us updated on what you decide. It definitely feels like the market around here in the Seattle area is heating up so much... that sometimes I wonder if it's a good time to just.... wait... on certain things anyway. :o)

@Alex Craig- Oh gosh... well, I sounded like the newbie I am with that question previously. "Linear" markets... I get it. :o) Markets that don't fluctuate a lot, and stay more steady, as opposed to more volatile maybe coastal cities... Is that what you were talking about? You might not see crazy appreciation, but you also don't see the crazy crashes.... Just steady Eddie, right? :o)

@Charles Moore- This is great information... this was on my list to tackle as I've been looking at out of state investing. So even though Tennesse, Indiana, and Missouri ALL have state income tax- it's different for real estate income...? Hmmm.. Good to note. I will have to go look up details... thanks for bringing that to my attention...! I do know that Tennessee has an Excise tax of 6.5% imposed on the net earnings of business done through an LLC, and if you hold properties in an LLC, they have an LLC renewal cost of $350 every year, on top of the excise tax. There is a possible exemption for it, but no guarantee you'll get it. I know a lot of people hold properties in their own name, and therefore this wouldn't apply.... but it's good to know the lay of the land, regardless. This was a big factor for us in comparing markets....

I have a document I downloaded earlier this fall... regarding LLC annual costs by state, that I have referenced multiple times. Now I need the equivalent one on the Income tax regulations. :o) I'm happy to share it with anyone... Not sure if you can attach a doc in the post.. it's quite a few pages long, so I didn't want it to just take up a ton of room on the thread. Message me if you want it. :o)

@Melinda Vandergeugten- it's so funny that you found this company... because I stumbled on the same one that same day. Thank you for going back and finding it for me. :o)

@Kyle McCullers- Hey Kyle... someday I will be able to answer this question with confidence. :o) In the meantime, I just connected with@Randy Whiteon BP in the last weeks, as we are "neighbors" and we were talking about contractors. He just today recommended to me a guy who finished up a job for him, and he was very pleased! Please contact him to ask him about his experience... hope that helps Kyle! 

 Steve- we just recently discovered that a friend's parents own 23 rental properties free and clear in our town. We are in the process of setting up a meeting with them. Hmmmm.... seller financing- is this what you're talking about? So you're suggesting, we buy their homes through seller financing, and assume the property management either ourselves our through a PM.... win, win. I'm intrigued. I keep coming back around though... I am estimating the price on some of their homes being the neighborhood I know they are in... I"m wondering how we would get cash flow since they have fixed up a lot of them along the way... Ok- any more thoughts on this? Is this what you're referring to?

@Account Closed- Interesting. These are the things I like hearing about. Seattle based... may be out of my price range... but not sure what you're dealing with. I will send you a message- thanks Justin. 

@David Faulkner- nothing like a good dose of reality, right? I appreciate you sharing your experience. :o) What years were you investing out of state? Was it through turnkey?

@Randy White- This is awesome feedback! Thank you Randy! Hats off to @Cj Juan! 

@Steve Vaughan- Thanks for the specifics on how to use the CL ads. I can totally do that! :o) I have looked up owners of addresses on the county assessors site, so I am already familiar with that, and you're right- not hard. So when you say to avoid the "wholesalers"- you mean people responding to my ad who are trying to pitch their wholesale deals? 

@Brian Turnbough- Okay, this makes the most sense to me so far. I can do that. :o) Sometimes when people list a billion things to do that you need to figure out- it definitely leaves you feeling a bit lost. Great questions on how to find a contractor... I'm going to do that with my hometown, too- definitely! Good to know regarding your wife... it is a bit intimidating! I'm encouraged by this, thank you Brian!

@Alex Franks- Thank you Alex... this is a lot along the line of what Brian (above) was saying. Like I mentioned, this gives me a path for my own local market as well, which we are not opposesd to, just still not sure how to make numbers work. Having a trustworthy contractor is a huge piece in my mind. Thank you for the reminder on staying away from lower-end investments... I have seen this mentioned mutliple times, and when you read it again- it confirms what others are saying. I appreciate it!

@Alex Craig- This makes sense to me.... instead of being so aggressive about spreading out the investments, find an awesome team. Then, maybe get lucky and find another one somewhere else. But I can see that having too many all over would definitely create more work, in more ways that one. I connected with a google exec who owns all 10 turnkeys from 1 provider, and has been pretty pleased. He is only know looking into another provider... still in the same market. Again- you can see the rationale, for sure. Thanks Alex, I appreciate the advice. Can you tell me more about the linear markets idea? I have been looking into Indianapolis, and was seeing geographically that KC is just west, and Columbus is just east, and was thinking it could be beneficial... but don't actually know why, except that they are close when you need to make visits. What is the argument for that? :o) 

@Isaac Rowe- Thanks Isaac- this seems reasonable... what is the best way to find agents and PM's? Just through BP? Are most PM's capable of handing rehabs... or are you hunting for the few that are? Do you know of anyone personally who has done what you have suggested?