All Forum Posts by: Eva Mackowski

Hello there, I am a wholesaler located in Ft worth, tx.. are you interested in the fort worth area at all?  If so, maybe I can help find you some deals!  Let's connect

Hi Everybody,

I'm in Texas, and looking to buy my first rental property.  I've done some due diligence and found a couple of homes that would be good deals.  No work on them, and are currently vacant.    

My question is there a way to buy the rental under my LLC, or do I just buy under my name and have a title company transfer to the LLC? If I do that, does that protect my personal assets in the event a renter tries to sue? How do I protect my personal assets?

I appreciate any and all advice on how to do this.

Conventional mortgage wants me to put the rental under my personal name, and then go to a title company and switch the title info to the llc, but the loan info is still under my personal info.

Any good contractor that has done alot of construction should not ask for anything up front, as they will have money upfront for jobs..  you should not be paying much at all, and it should be on a schedule, as mentioned above.  When we remodeled our house, (this was $35k reno work) the contractor we used asked for 30% about half way thru, then another draw at 90% completion for work done, and then the final billing upon completion.  If the contractor is good, he has money in reserves for starting a job..  he should never be asking for money up front to start a job, if he reputable.  just my experience.  I'm from Texas, and I agree.. everything is negotiable.  Never do anything you are not comfortable with.  I would def renegotiate the terms.

Thank you for the info!  A little additional info on my company.  I am going to start off doing wholesaling.  would that count as sufficient income to open a solo 401k?,, and if so once i start getting income, does the income flow thru the solo 401k account, or does it go through the llc?  I'm a bit confused on how this works.

Hi Everyone,

I've been reading the forums and discussions on BP regarding Solo 401k vs SDIRA's. I left my job last year, and have started a real estate investment company (LLC) and am getting ready to invest in rental properties. My question is that I have a 401k with my old job, and am wanting to convert it to a vehicle that will benefit me most and I can use it to invest in rental properties. Any advice on this would be appreciated.. From what I can tell, the Solo 401K would be best. my 401k is currently with Fidelity, so I'm guessing I will need to completely remove it from Fidelity, as they don't allow real estate investing... Thanks all for your help.