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Thanks Mike. That's the first I've heard that about single member LLC's. Fortunately it's a simple thing to convert to a multi-member.

Dave

Savannah, GA

Savannah, GA.

I've always been leary of partnerships. It's hard enough to find a decent contractor, let alone one you could partner with. I appreciate the idea, though. Will keep it in mind.

Right now I'm focusing on keeping my rentals full and wholesaling. Our market here is slow and difficult to retail, though not as bad, as I understand, as it is in most areas. I've been a lot rehabbing but don't enjoy it much and I'm not too good at it. I'm much better at the marketing side of things, so I'm going to keep the best properties (especially ones with owner financing/good terms) and try to use smart marketing to generate good deals I can pass along to the ever growing number of investors in our area.

I'm very impressed with this forum. It seems to be well run and have a number of dedicated experienced contributors.

Dave

If your LLC's are single member, you won't need separate tax returns for each LLC, they just drop into your personal return.

The best line of defense against law suits is to treat people fairly, but using LLC's is simple and inexpensive and can provide some peace of mind.

I signed up for a service that provided leads from TV ads. It didn't work because the TV covered a 13 county area and most leads were out of my target area.

Welcome Barclay,

It's scary to take that first step. You may want to consider wholesaling to reduce some of your risk and fear. Get a deal under contract and flip it to another investor for a small profit.

Dave

Hi,

I'm been a full-time investor for 8 years but I've never checked out these forums before. Looking to share and learn.

Dave