All Forum Posts by: David Gerard

Thanks, both answers make a lot of sense, I'll do a little more research and check out the podcast, then I'll structure accordingly.

Forming an LLC to purchase some rental property in Florida. I'm in NY. Just wondering if anyone here can weigh in on whether it is better to form a Florida LLC for this or a NY LLC, thanks.

Thank you Brandon, looks like a great set of resources, I will definitely check these links out!

Hello,

If anyone has any direct-experience recommendations for a home builder in Pasco County , Florida, please let me know, thanks.

Jesus,

Don't take any of this as legal advice, it is just friendly advice, but there is nothing wrong with an assignable contract, depending on the nature of the property you are purchasing.  If it is a homeowner selling, they may or may not be willing to permit the assignable contract, the low contract deposit, and the many contingencies that usually go along with a wholesale contract (everyone wants out if they can't find a retail purchaser).  If you are talking auction properties, or bank-owned or short sale properties, often times there will be additional restrictions on the purchase, such as a 30 day period before you can re-sell, non-assignment, or non-redemption (selling/renting the property back to the original distressed homeowner).  The investors that I work with often have multiple "exit strategies" depending on each deal so that they do not end up stuck with a property.

Dave 

Welcome Grant.  I'm just getting into the investing game myself, looking to add income stream to supplement a law practice and real estate brokerage.  I'm still very much in the knowledge building phase, but always happy to chat to share information or ideas.

Dave

Awesome, thanks so much for the tips and the welcomes, I am really looking forward to becoming a bigger part of this community!

Dan, nice to meet you, always great to meet another attorney.  I primarily practice (surprise) real estate law, along with a healthy dose of small business support and some litigation.  As for investing, I'm looking to try to get some passive/supplemental income, hopefully to replace or reduce the money I need to make as lawyer, which is as you know a tremendous amount of work.  So I'm currently looking at buy and hold as an initial strategy, and eventually if there is some cushion there I'd get into some flips.

John, at the moment, strictly buy and hold in certain areas of Florida, but eventually once I build up some capital and credibility I would like to also look a little closer to home.  I am happy to talk, I'll shoot you a message to follow up, and I will let you know which meetups I can make.

Dave

Thanks, I will look into it, if it speeds up my ability to evaluate properties more quickly it seems like it might be worth it.