All Forum Posts by: Esteban Cardenas

Hi @Charles E Nielsen, I'm actually located in Pocatello.  I've only been in the game for a couple of years myself.  Started out with a Turn Key property and now transitioning into Multifamily.  We are currently looking in Pocatello, Idaho Falls, Boise and Salt Lake markets. Are you looking to be a active investor or more on the passive side?  

Appreciation here in Pocatello is insane right now.  I purchased my new construction personal residents about 8 years ago for $190k.  We refinanced last year and our home appraised for $340k.  I'd estimate today it would appraise for about $370k.

Hi @Rob C. What I ended up doing was using my personal resident's address when I opened the bank account. Shortly after, I changed this address online to my UPS Store address which is the same address used for my LLC. As of yet, I have not heard from my bank questioning the address change. Hope this helps.

@JD Martin very good point.  I will have a discussion with my PM to see what kind of experience, if any, they have with renovations.  Thank you sir.

I'm a new investor in buy and hold RE.  I'm looking for my second out-of-state property currently.  Would it make sense to have my property management company manage the renovation on any new property acquisition or find contractors myself to do the reno?  Just wondering what common practice is for most other investors who invest out of their home state.  Thanks in advance. 

I'm transferring the deed of my out-of-state rental property from my personal name into my newly created LLC in same state as property. I've setup a local UPS mailbox in my home state as a mailing address for the out-of-state LLC. My question is do I use my LLC's resident agent's address or UPS mailbox mailing address on the deed?

These are all very good points both ways.  Thank you everyone for the feedback.

@James Wise I will be sure to follow each of those practices you have listed.  Great stuff.  Thanks

I'm a new investor looking to invest out-of-state and have heard its recommended to physically visit the area you are interested in.  What exactly are you looking for or trying to accomplish with this visit?  With today's technology, what can you find in person that couldn't be found online?  Google maps seem much better than driving around neighborhoods.  What am I missing here?  Any advice would be greatly appreciated.

Looks like I need to find another bank.  This is what comes up when trying to change address:

"This has to be a physical building (not a P.O. box, mail forwarding address or other agent address)."

Not sure where to go from here.

Thank you Charles Carillo and Scott Smith, you've been very helpful in clearing this up for me.