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All Forum Posts by: David Lawrence

David Lawrence has started 2 posts and replied 5 times.

Post: LLC and insurance question about rental townhouses

David LawrencePosted
  • Investor
  • Greenville/Spartanburg, SC
  • Posts 5
  • Votes 0

Hello,

I currently own 2 rental units and im in the process of acquiring my 3rd and have a few questions regarding LLC and insurance.

I currently have insurance for my rentals under a landlord/ fire policy with a separate policy for each unit and an umbrella policy that covers the rentals and my personal property insurance/auto.

I own the properties fully ( no Mortgage) and do not have an LLC.

What is the benefit of moving the properties into and LLC other than liability protection?

Are there tax incentives to an LLC and can i carry 1 insurance policy that covers all of the properties or do i still need an individual policy for each town home?

I had read in the past than an LLC isnt really necessary until you start acquiring more units so have kept things simple until this point.

Please excuse my ignorance, any feedback is appreciated.

Cheers 

Post: Duplex Purchase

David LawrencePosted
  • Investor
  • Greenville/Spartanburg, SC
  • Posts 5
  • Votes 0

Hi,

I'm fairly new to this and have decided to buy my 2nd rental property a Duplex for $70k in upstate SC.

I am paying cash that i made on a prior flip, income is around $1150 per month, the property needs about $10-12k in repairs, taxes are around $2k per year, management fees @ 10%

Its a brick duplex 3/1.5 on one side and 2/1 on the other in a class B area..

Does this sound like a worthy deal??

Please help reassure me.  Cheers!

Post: Just Bought Rental #2!

David LawrencePosted
  • Investor
  • Greenville/Spartanburg, SC
  • Posts 5
  • Votes 0

Thanks for the Info :)

Post: Just Bought Rental #2!

David LawrencePosted
  • Investor
  • Greenville/Spartanburg, SC
  • Posts 5
  • Votes 0

Multi family/ single family upstate SC. I have looked on Zillow and tried to use a few agents but they don't really have much to offer. I wasn't sure if you could point me in the right direction?? Cheers

Post: Just Bought Rental #2!

David LawrencePosted
  • Investor
  • Greenville/Spartanburg, SC
  • Posts 5
  • Votes 0

Congrats, Whats the best place to find such properties?