All Forum Posts by: Casey Caton

One of my tenants in Florida applied for a rental assistance program offered through the state, and my management company was paid within a month after we approved his request. I guess just one more reason why Florida is awesome. 

@Brady Wiley

The ol w2 grind. Taking away time from family and real estate, but it’s all temporary and I’ve got a plan, so there’s a light at the end of the tunnel!

@Justice Jacobs

This opportunity was teed up for us, but our business partners with the operator’s license and know how backed out due to the an extreme increase in insurance premiums that really tore into our return. Just wasn’t worth the effort for them anymore, so we’ve turned it into a house hack Airbnb. It’s working!

@Brady Wiley

Good deal! I have some past experience of doing it for a smaller Amazon FBA business that we did, and we should have went harder on our own website to stay somewhat independent of almighty Amazon. Same concepts to get those leads and clicks for real estate. I’ve heard some good SEO stuff on the podcast recently.

@Sam Trulli

That's awesome Sam! If I had that amount now, I would pursue some good BRRRR options so that I could keep recycling that money and make those dollars work hard. If you haven't read @David Greene book on BRRRR investing, go ahead and start there. If you do it right, you could keep reusing that same cash again and again and again!

@Brady Wiley

I’m in a similar boat and will be creating and optimizing a website and PPC opportunities. No need to recreate the wheel. I’ll incorporate a few old school techniques as well, but I think the website and building a brand is really the way to go.

@Adam Benenati

Find three brokers in your area to do the shopping for you. Typically that's gotten me the best options. Remember though - the cheapest premium may not be the best option and likely not the best coverage, but usually go with the cheapest quote anyway lol. Some lenders may call the loan if you try to sell a property to your LLC. To be on the safe side, talk to your lender to verify. Mine lender gave me a hard no on that one, so I went the umbrella policy route. Good questions!

@Joe S.

That is awesome! What do you think helped keep a tenant for those 16 years? I’m guessing your next steps will be to do some cosmetic updates, raise rents, and get another 16 year tenant?

@Dawn Ivey

Good idea reaching out in BP! Gather all of the free information you can before paying for a course. There’s so much good info here! Find a local real estate meet up and you’ll find some more experienced wholesalers who might be willing to do some mentoring or at least give you some practical locality specific tips of the trade. You got this!

@Isha Suri

That LLC as it stands wouldn't be much protection if any. It would be much cleaner (if you're going to keep the house in your name) to have the tenants sign new leases with your names rather than the LLC, and shop around for an umbrella policy if you want to rest a bit easier at night. If your lender allows - selling the property to your LLC would be another solution and offer the liability protection that you're seeking. There's term of art when folks sue LLCs or other corporations called piercing the veil which can happen when a plaintiff is able to show that there is no real separation between the owner of the business and the business entity itself - an example would be money flowing between multiple bank accounts both personal and business without any rhyme or reason. When this happens the owner could be found personally liable. A good article can be found here https://www.nolo.com/legal-encyclopedia/personal-liability-piercing-corporate-veil-33006.html