All Forum Posts by: Chris Marshall

I'm new to the investing world and I am getting my start because of a generous family member. They are gifting me property free and clear of any debt, and we are going to refinance the property and take on a loan to pay off all of our debt and use the remainder to start investing in property. But we are running into a problem with gift taxes. The total amount of the gift is going to be about 250k to 300k. What can i do to minimize the gift tax or prevent it entirely? I am trying to find professional help in my local area to answer these questions but i can not find anyone that will respond to my inquiries, since i work Monday through Friday my only option is email or voicemails since no one seems to work weekends! 

Side note if you were a legal or financial professional you would make a killing if you worked on the weekends around my area. It is very frustrating not being able to talk to someone during the times that I have available.

I say that as a complete double standard since i myself work Monday through Friday as a insurance professional and i try not to work weekends, but still!

Now back from my rant, if you know anything that could help please let me know. and if you are a professional that could help me in my local area please let me know!

I appreciate any help you have to offer in advance!

I sell insurance for State Farm if you want any quotes feel free to give me a call. But specific hazards I always suggest back up of sewer and drain, and earthquake. Go with the lowest deductible for earthquake insurance it's not much more.

I don't want to just invest in real estate, I want to invest into everything. Stocks, start ups, money, every type of real estate I can. Should I creat two different companies, one that deals with the real estate and one that does everything else or does it matter?

Hey thanks everyone and actually I did listen to that podcast like an hour after posting this question, but yeah I guess I will not out my personal residence under an LLC haha! Thank you all!

My wife and I owe nothing on our home and her hair salon next to our house, would it be smart to have those properties underneath our LLC or should I leave it under our own names? We are refinancing those properties to start our real estate investment journey. I'm wondering about tax implications or potential legal issues or anything like that. I like the idea that I could say my LLC owns two properties right from the start but if there would be problems that wouldn't be worth it then I need to know that.

Yeah I would definitely look at taxes, and how much growth is going on in the area your looking at investing. I don't see much growth on the east side of the river but there is a lot of growth on the west side of the river, like Cape Girardeau. I don't know what goes on in Illinois but from the times I drive over there I haven't heard a whole lot. At least for the Mississippi River side of Illinois.

My 5 year goal. That's what I meant not year goal haha.

I actually had my agent send me a bunch of listing on the MLS from cape, my short term goals will be here in farmington but my year goal is to move my sights to Cape Girardeau. With Cape becoming an upcoming tech hub for Central America I know real estate is going to be amazing there. Why what did you have in mind?

Hey Rick I know a developer who may be interested. I have not done any work with him since I myself am just starting out but I have known him for a few years. I can have him get ahold of you if you like?

Welcome, I'm still learning as well. Just been setting in my sights till I see my first deal. And I'm also from the St. Louis area about 45 minutes south of south county. Hit me up if you ever need anything!