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All Forum Posts by: Peter Schuyler

Peter Schuyler has started 18 posts and replied 208 times.

Fellow BP experts

Would my LLC which has buy and hold rental income only at this point, qualify me for a Solo 401K, if I have the LLC pay me as the Property Manager?

Would that self employment income be enough to make the LLC an "active business"?

 Right now I set aside 10% PM fees in my numbers, but do not pay it out to anyone yet (just sits in the business checking account.

I would be willing to pay myself if it allows my roll over significant capital from my Traditional IRA to a LLC Solo 401K and start to take advantages of that plan also.

Pete

Post: !!! *** Real Estate Clubs REQUEST INFO *** !!!

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124
Originally posted by @James H.:

I really enjoy NTAREI.

Did you attend last nights Monthly meeting?

Is it a large group setting, or smaller?

Post: !!! *** Real Estate Clubs REQUEST INFO *** !!!

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124

Hello Fellow Dallas Investors,

Even though being a member of the BP forums is awesome, I'm looking to meet others in a club format.  I'm not interesting in spending thousands to join a private club like Lifestyles Unlimited or Freedom Mentor, etc at this point in time.

These are the two local clubs I could find, any others I missed out on?

DFW REI Club (http://www.dfwreiclub.com/)

North Texas Association of Real Estate Investors based out of Dallas (http://ntarei.com/)

Thanks Pete from Collin County

Post: Hi from Dallas Texas, anyone else in this area???

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124
Originally posted by @Andrew Postell:

@Kelly Kovar welcome to Bigger Pockets.  There are a lot of us here that are local to you.  Have you been to any local investor clubs to network by chance?

 I have noticed there seems to be two large local clubs that I could find.

DFW REI Club bases out of Fort Worth (http://www.dfwreiclub.com/)

North Texas Association of Real Estate Investors based out of Dallas (http://ntarei.com/)

Did you guys find any others?

Post: Hi from Dallas Texas, anyone else in this area???

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124

Are you looking for a veteran or someone that can spare some cycles to help in the venture.  I have done buy and holds, but looking for other avenues to generate capital for more buy and holds.

Pete

Post: Recommendation for Real Estate Agent in Dalls (for investor'

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124

@Brian Rockwell, would you be willing to share his number with me, Im in Collin County and looking for a savvy real estate agent/investor for my next deal.

Pete

Post: First Kansas City Turnkey Purchase

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124

Hi @Chris Nordella, you mentioned you had to find a Property Inspector, is that normally outside the package of the turn key, when do there services kick in Property Management??

I would be interested in knowing who you used via Private Message if your willing to share, TK, Lender, etc.

Thanks

Pete

Post: Turnkey Investor from San Diego

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124
Originally posted by @Eugene Lee:

Hi all,

Reviving this thread for update number two! 

I recently got into contract for two properties with a turnkey provider in Memphis, TN putting to work slightly less than half of the capital that Id like to put to work in real estate. The properties are in Bartlett and Cordova and should cash flow about 100-150 a month with a 12% set aside for maintenance and capex and 10% for vacancy, both of which are super conservative. I'd be happy to disclose over PM. 

Both properties have been inspected and one property had an older roof that the company has agreed to replace for free. That's awesome!! We're looking at an early closing on this one :) 

The second property had an older water heater and siding that needs to be replaced or at least repaired. Will keep y'all updated!

I'm looking at some other cities to diversify my investments and also am in the process of vetting other providers to work with in the future. I have a short list of candidates in mind :)

Please fell free to reach out with questions or comments and I look forward to hearing from you all. 

 Which turnkey company did you end up using?

Post: Is Cozy.co a good rent collection tool?

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124

I have been using Cozy.co for my first investment Duplex, works great for rent collection, I will try its listing service this summer if my tenant decide to move out.

Post: Who's pay's $1,300 for rent?

Peter SchuylerPosted
  • Fort Myers Beach, FL
  • Posts 225
  • Votes 124
I currently pay 2300 in rent and my duplex investment is 1300 a side which is reasonable in this market for an 3/2/2.