All Forum Posts by: Damir Kamber

Welcome to BP Benjamen Propst , this is a great place to start your learning. A lot of your questions depend on your personal investment strategy as well as your investment goals. What works you might not work for others. Jeff Dimock gave you many great tips to work off of. Figure out your 'why' before anything else. As far as LLCs are concerned, CPAs and attorneys will recommend that you hold your rentals in a trust for liability reasons. Please reach out if I can be of further assistance. Cheers, Damir

It all depends on how the LLC is structured. I highly recommend that everyone consults a professional for such decision. LLL➡️Trust is a great option from a liability perspective. Asset protection, exposure and such. It's a different angle once you start syndicating and purchasing larger deals. This has no one side fits all, all depends on individuals investment strategy. Cheers, Damir

@Aida Kamber

@Mirza Hodzic it all depends what you are looking to buy. You need to set you parameters first and understand the entire process it involves. Using another investor to partner with on your first few flips is always a great idea. As long as you are bringing some value to the table as well. You always want to have 'skin in the game.' Let me know if you wanna grab some coffee sometimes. 

I am also from Bosnia. 

Cheers,

Damir 

I'm in

@Timothy Howell why are you purcasing your SFR with an LLC? Did you just recently register this LLC just to purchase an investment property with or is this an active LLC that brings revenue through another business venture?

Cheers,

Damir 

@Mirza Hodzic welcome to BP! You are definitely at the right place when it comes to continuous education. 

You mentioned 'pulling the trigger' and 'putting your life savings on the line.' The first one is probably the biggest reason why most of the newbies in REI never do a deal. They just can't get themselves to pull the trigger. As far as putting your life savings on the line, don't! As an investor, you want to have your household finances in order first before putting any funds to work. What I mean by that is you need to have your household savings separate from your investment savings. If you need 6 months of income in case you or your wife are out of work, then you need 6 months of savings. Once you have that nest ready, then you start building your investment pile.

The best thing about real estate is the creative road maps it has. Everyone has a different way to reach their goals, the important thing is having your end goal in mind to begin with. 

Feel free to reach out, I'm in Roswell.

Cheers,

Damir 

I literaly just upgraded my memberhip just so I can reply to this post. Thanks @Jered Sturm !

I would love to be part of this get together and will reach out to my network to see what's out there. In the meantime, what are we looking to do as far as food and beverage, if anything?

Cheers,

Damir  

Kyle Godbout why do you think you will be able to raise the rents? How long before you will have to drop the rents? Having no equity is risky in the current economic situation. Inspection will tell you a lot as well.

@Richard Goldthwait welcome to BP. Make sure you start attending the local REIA meet-ups across the city. We look forward to having you in Atlanta. Reach out if you have any questions.

Cheers,

Damir