All Forum Posts by: Christopher Gardino

I have read that in using a LLC, one can create personal protection against a real estate property in the case of lawsuit. Is this true in regards to a primary residence and should I be looking to purchase my first property under a LLC or under my own name?(My first property will hopefully be a duplex in which I live in one unit and rent the other)

My second question is in regards to starting a business for real estate. Is it possible to start a real estate business in my primary residence for the property I will be moving in to? I read the great tax benefits for deducting business expenses and am curious as to whether investing in a property and renting it could be considered a business. In so would it could be eligible for these deductions?

Thanks,

Chris

I am looking forward to this one!!! Although I do not have any property yet, I guess a lesson I learned was to make sure that I prepare and realistically set a goal for myself and follow through or else nothing will get done!

Thank you all for the great advise! Its really gratifying knowing that the investment strategy I have planned out is something that has had some success from REIs in the past and is a good plan. The next step for me is planning out a finance strategy and begin finding places. Having an uncle in the area who is a REA will be a huge help. Its also good to know there are a bunch of local MA investors in the area. Look forward to hearing from you all and I will keep you all up to date as how my search goes!

Thanks again everyone!

@Carolina E.

Thank you all for the excellent advise. All of this information will surly be an asset as I progress. @Paul Timmins I am curious to know how the Niche and Specialized Housing works and where I might learn a little more about that. The area in which I am looking to get my first property is in a college town so that could be an excellent advantage.

Once again thank you all for the great words! @Ann Bellamy @Brandon Turner @Jacob Villalobos

Hello BP!

My name is Chris and I am a new investor looking to make a serious career as a part time real estate investor. Currently, my profession is a guitar instructor teaching guitar lessons part time while having over 35 students weekly. I have been teaching a little over a year and a half and I look to keep that number climbing so if anyone in the Boston area is looking for some great guitar lessons, I am your GUY! I graduated from the University of Massachusetts at Lowell in 2012 and studied Sound Recording Technology and Music Performance. I play in multiple bands of various styles and gig regularly in the Boston/Central Mass area, have gone on tour, and played in front of hundreds of people. Being on stage is where I feel most in tune with myself and controlling the crowd is such an awesome feeling. Connecting to others via music has to be one of the most gratifying experiences I have ever felt.

I read "Rich Dad, Poor Dad" just about 2 months ago and it completely changed my life! I have grown a thirst for knowledge and have read 4 1/2 books since from areas of Personal Financing, Investing, Tax, Mortgages, and currently reading "Real Estate Loop-holes" of the Rich Dad series. I look to continue to read and gain as much information as I can as I get my feet wet in Real Estate Investing. In getting my feet wet I plan to learn along the way with an honest and humble approach using my intellect and wit to minimalism loss and avoid mistakes. I figured the best place to learn is in the experience of others so I have been browsing around these forums soaking it all in!

Being only 24, I realize I have a long way too go and know that keeping an open mind is one of the biggest keys to my success. I hope to make some excellent connections here at BP, some new colleagues, as well as some good acquaintances with people in the field I am starting in. Perhaps even a mentor :) Hope to hear from many of you and am glad to be in a welcoming and comforting community.

Hope all is well,

Chris Gardino
Musician

Hello,

I am a young investor looking to get into real estate. After reading multiple books by Eric Tyson and "Rich Dad, Poor Dad" by Robert Kiyosaki I have come to realize that real estate is the market and investment vehicle for me. I was turned on to this website by a friend and after a few hours of making my way through the blogs and forums I felt comfortable here while not being intimidated by investors who have been doing it for a long time. It is why I have decided to seek out some real world advise.

My investment strategy is pretty simple I feel and would require a good amount of time and effort to reap the benefits, but I think it has potential. Living in the suburbs of Boston MA, I plan to locate a multi family house to move into . I have roomates who are willing to move in with me and plan to renovate and rent out the other floor once it is completed. In moving in, I hope to secure a FHA approved loan in which I can hopefully get lower mortgage rates although I am aware of the PMI. Once the other apartment is fixed and rented I can the begin to fix up the apartment I am in and prepare to sell it in a year or two. The plan is to build enough equity to get another place and keep investing. In doing this whole transaction I plan on going in with some partners due to my young age, financial limitations, and lack of knowledge in handywork. I am also in the process of building my team in search of A players but this will take time and money.

My questions are : Does moving into the property in which I plan to rent and sell grant a good potential for profit? How do I make partnerships work? Where to find the best attorneys ?

Is this a good investment strategy or am I just kidding myself?

Thank You,

Chris Gardino