All Forum Posts by: Denver Gray

I’m a Nola realtor and I have a really good friend of mine is one of the best agents in Jacksonville I’d love to hook you up with him... he’s an investor and a entrepreneur with serious hustle who will have all sorts of industry insight in that area. 

Potentially... what sorta property you have in that price range?

Hey Mike,

Welcome to bigger pockets there are quiet a few of us in the forums... I’m a realtor and apartment complex investor in New Orleans. I started out in single family and built from there always awesome to see someone else taking the plunge. Good luck to you and just ask most of us are willing to grab a cup of coffee or take a phone call and talk shop. Great business and good fun is ahead of you.

Welcome to the club, cool man i’m In Nola as well but i visit my families property up in Hammond once or twice a month to check in on things and maybe hit up the main strip in old Hammond, some of those bars are pretty fun... but yea i love talking shop as well if you want to talk shop and figure out where your going to go and what sorts of properties you want to focus on i’d Love to grab a cup of coffee.

I'm gonna just say Braden seems on point with this one... no more info needed IMO

I would just draw on the line and put the fund in the LLC's bank account and count the whole thing as a contribution... but to a certain extent you can use the HELOC and make all purchases in it contribution to the LLC... as a start up most of those little details are pretty blurry and I would tend to lean towards the assumption that such a transfer should be fine. If its not fine i need to know because i have been doing that will my RE LLCs for years lol. When you buy the property just do so in the name of the LLC and in most cases the bank is going to want a personal guarantee anyway to pierce the corporate veil effectively making it easier for them to target you personally in the case of an issue but your still protected from others from what I understand in the case of other liabilities... Best course of action is to clear such questions with a good lawyer and accountant IMO (they are worth their weight in gold and should be on you team/ in your roladex at this point anyways). PS i am not a lawyer its worth the cost to get a professional opinion even if it turns out to be fine the down side is almost always more expensive than the upfront cost of a harmless question.

I'm an investor in New Orleans and a realtor (pretty much live with my brain drowning in Real Estate non stop)... if your looking local i'd love to sit for a cup of coffee to talk shop and about the market etc... I'm a huge investment nerd. Or just DM me and we can chat. I'm primarily a multi family guy now but i started with single family and condos in the begging of my journey. What area where you looking at in Louisiana?

I'm from NOLA as well always good to see another investor putting their toe in the pool to join us all in the industry. I'm with everyone else here in that just jump in and get involved you don't need to buy until your ready but you need to figure out the industry and get around people with experience to learn... buying people coffee and joining clubs to get your name out there as being involved and to learn is going to your largest ROI investment of your life should you decide to dive and in make this a focus. Lots of great peeps to meet.

I agree with Andrew... 300 people sorta puts you at the whim of allot of variables that wouldn't be on your priority list of things to watch. I think you should sell as smaller towns come with risks of major employers moving and completely crushing a towns economy and population in just a short time if there is any shift... that being said if you know something about the town and its growth potential there is allot of upside should the town grow instead of shrink but an investment like that seems like a coin toss i wouldn't recommend as a first investment due to the inherently higher risk should such a prediction not play out. 

I'm with Andrew on this one... smaller towns while offering great cash flow potential can get crushed by movement of big employers so be sure to heavily research the economy of the town as a whole when looking in more rural areas... usually something like a regional commercial airport or a big hospital can elevate worries on topics like this as larger infrastructural investments from both companies and the government can alleviate some of the risk in theory. Just my 2 cents... If i'm looking to go long i need to know others are long on the area as well... so in that case i would look towards newer developments in the area and see if money is flowing in or out... in short buy a buncha local coffee and visit the local chamber and talk with a local commercial broker to really get a feel for the cities future. Always best to hedge your bets via knowledge imo.