All Forum Posts by: Chris Duzan

Thanks everybody for all the tips and suggestions! I will definitely stop trying to worry about this stuff by myself and use a good CPA and attorney. Time to get back to studying the important stuff. 

@Paul Timmins 

I would love to talk to your buddy you were speaking of. Is she on BP?

@Ellis San Jose 

Thanks, I guess I have that same problem. Because I'm definitely stuck on the idea that I need to create an LLC around each property. So insurance is enough to protect me?

@Paul Timmins 

Thanks

@Curt Davis 

Thanks again. That answered some of my questions, but of course it opened up 10 more new ones, haha

@Pattie Thomas 

Just to clear up how LegalZoom works. So I pay the $30 and this allows me to do what exactly? Find a list of attorneys and tax professionals in my area to contact? Sorry if the answer to this is obvious, I just snooped around the site for a little bit and couldn't find information on the service you're talking about.

Thanks @Curt Davis 

I would like to know why if you're just starting out that you don't need to worry about entities. I know you can save some initial fees if you don't form an LLC, but doesn't the due on sale clause get called when changing owners(from investor to investor's business)? So what happens when the investor has acquired enough properties that warrants creation of an entity, do they have to pay off all past mortgages at this point?

Hey guys,

I'm still in the studying and research phase of learning real estate and right now and I'm kind of stuck on the business entities side of things. I have read several things that suggest treating your investments like a business, which I agree with. But I have looked up on the forums about structuring LLC's around properties and there seem to be very mixed reviews about using business entities at all.

So, my question is who is the appropriate professional to seek for advice on this? RE Attorney, CPA, RE Tax Specialist, Wealth Adviser, other RE Investor...?

And if you want to throw your 2 cents in on the subject feel free, I'd love the feedback :)

Thanks!

@Charles Jacobs 

Welcome to BP and REI! I'm from the Columbia area, so not too far off. Still in the process of learning myself, but this is the place to do it. I'm always finding new things to learn about on here.

As for REIA's, someone pointed me to columbiareia.com, and check out their meetup.com profile. Haven't had a chance to go to one yet but I'm looking forward to it once I get some time.

@Chris Watley 

Welcome to BP! I'm in the Columbia area also. I fairly new to RE and still looking to get my feet wet. Hopefully in the next 2 years I will be buying my first property. I would love to hear your thoughts on the Columbia market though.

@Guy Heath 

Are there REIA meetups in this area? The closest I could find when looking it up was out in Greenville. A little too far for me, at least at this point in my career.

@Austin Grant 

Welcome to BP Austin! I'm in the Columbia area. Still in the learning phase myself but this is a great place to be for any type of RE investor.

@Matt Granger 

I'm in the Columbia area. I'm fairly new to investing and still working on getting into my first property as a buy & hold investor. I would like to keep in touch for future opportunities. How long have you been working as an agent? I actually have a friend I know that is starting to look for a house(small multi-family).

@Robert Eaddy 

How do you already know you're looking for single family 3/1 in the Columbia area? Is that the typical household in the area? I've been trying to look up housing statistics in the area but it's been harder to find than I thought. I was wondering if you could point me in the right direction to find this information.

@Frank Wilder 

Welcome to BiggerPockets! I'm also in the Columbia area. I'm pretty new to investing also but I'll help you where I can. I'm currently researching for buy & hold but maybe we'll do business in the future once we both get going.