All Forum Posts by: Christian K.

@Bob E., and @Evan Bell it was great meeting you guys the other night. Looking forward to meeting & speaking again next month!

@Evan Bell Congrats!

@Kevin Trumbull I use Wyoming and think it deserves a look. Wyoming is very keen on privacy not requiring you to list shareholders (Corp), or members / managers of an LLC. They offer the strongest LLC protections in the country when it comes to 'piercing the veil.' While not exclusive to Wyoming they are one of the states that offer a close LLC which allows you to put very heavy restrictions on the membership units - this can be utilized as an asset protection policy if ever sued. Finally, the annual filling fee is only $50 a year.

Just my $.02

Hi Everyone, 

I am looking to network with some local note investors down in Arizona. My brother and I run a small performing 1st lien portfolio and are looking to broaden our contacts. Please feel free to message me I would be interested in speaking with some other investors. We are looking to purchase some notes under $30,000 UPB currently and would be interested in speaking with your about that as well.

Thanks!

Hi everyone!

I was curious if anyone had a referral for an attorney in Phoenix, AZ that could assist with setting up a LLC with SD IRA's as the owners? Thanks in advance!

Hi everyone!

My brother and I are looking at investing in real estate notes and tax liens inside SD IRA's and we wanted to do this together. Now I know just enough about SD IRA's to be dangerous (to my self only, perhaps.) I was initially thinking we start an LLC and have the SD IRA's own the LLC. We both can contribute the same amount in cash every year and that's not a problem. Someone I know from my local real estate club told me he is currently setting up his SD IRA as a checkbook SD IRA to purchase notes and have an LLC he owns handle the servicing of his notes. He said as long as you disclose it everything is legal. My questions are:

1. Does this sound legal? I thought all transactions in the SD IRA had to be at arms length and couldn't benefit you before retirement.

2. If this is legal does this somehow limit your IRA's exposure to liability if someone sued you?

3. Would it be easier to set up and LLC with my brother and have an insurance policy to cover an lawsuits and handle everything out of one entity?

Sorry for the long post I just wanted to get some feedback before I speak with an attorney. Thanks!

I completely agree with @Brent Paul the podcasts offer a TON of information that is helpful if you are starting out. The one thing I can offer is you have to pick something and just do it. I think it can be very difficult to try to flip and wholesale at the same time. You have to put 100% effort into it and learn everything you can, make the process better, rinse and repeat. Once you get the hang of one form of investing then move onto the next if you'd like. 

I can say from personal experience wholesaling is a lot harder then most people think it is. It can be done you just have to look at your specific market. 

Good luck! 

Hello Bigger Pockets! 

I have been an avid reader for the past several months and have decided to introduce myself. My name is Christian and I am currently based out of Chandler, AZ. I have been actively involved in real estate investing for about 5 years doing everything from flips to note investing. 

I am currently a real estate agent, and working full-time to build up extra capital to invest in rentals, flips, and note investing. I am looking forward to finally using my learned knowledge and turn it into a passive business model. 

I am looking forward to meeting all of you!