All Forum Posts by: Cliff Song

@Mitch Messer, thanks for the suggestion. I did look at Tulsa briefly but focused on OKC since it had a larger population and population growth over the last few years. I'll take a look again though. 

@Sam McCormack, I am looking for cash flow off the bat for my first investment property. I wanted something lower risk to cut my teeth on this journey while I build experience.

Hi everyone, 

I'm trying to find my first investment property and have started analyzing deals out-of-state but having difficulty finding opportunities with even minimal positive cash flow. I started in Oklahoma City and surrounding areas due to having family there but I can't seem to find anything that pencils. I'm considering looking in other areas based on what I'm seeing on the internet like Ohio, Indiana, and Michigan. Would like to hear thoughts and suggestions on finding markets.

Thanks,

Cliff

Appreciate all the replies. Seems to be competing opinions on whether an LLC or other entity structure set-up is a must for a first time real estate investor.

1. If I purchase properties under my name what steps can I take (other than an LLC) to reduce risk to my personal property excluding the rental itself?

2. How difficult is it to transfer properties under my name to an LLC at a future date? Seems that the 'due on sales clause' is the risk so I'm wondering what other options there are to protect personal liability.

From my research so far, seems like someone starting out has to take on that risk and just purchase under their name since getting a conventional loan is difficult under an LLC.

Thanks!

@Jackson Ebersole and @Jonathan Greene

Information appreciated!

I am just starting out and have yet to purchase my first investment property. I'm just in the research and preparation phase at the moment. Does anyone have any advice on whether an LLC is a must before purchasing your first investment property?

Thanks!