All Forum Posts by: Geoffrey Lau

Does anyone have a good plumber and/or Handyman recommendation for downtown Allentown? A first floor unit has a leak coming from the ceiling and I am looking for someone reliable to find the leak and fix the damaged sheetrock etc.

Thank you!

@Andy McQuade Thanks for the great info!

Just to confirm, when you say "record the funding", that's simply noting the cash input / credit when doing year end tax filing? I have a great CPA who would be handling the filing so I assume as long as I am keeping an accurate account of expenses / credits/ debits (excel), there wouldn't be anything else for me to do. 

RE: Charge order - Thanks for the advice. Was actually discussing pros and cons of incorporating in Delaware vs Pennsylvania (where the property will be). Most indicated PA as for my particular situation, my goal would be to limit commercial / business liability affecting personal assets. But, definitely something I'll dig into further.

Geoff

Hi BP Community,

I'm in the process of setting up an LLC and have questions regarding the initial funding of the LLC.

The plan is to purchase a property under the LLC but in order to do so, I assume I would need a separate business bank account which would then be initially funded thru private funds.

Do I need to issue any "share exchange" or specific internal documentation to record this cash infusion in order to protect the legal separation of LLC vs me as an individual? I have read that you need to be very careful in separating personal vs business expenses and cash flow as any person expense paid for thru the entity could be a potential weak point in legal action.

Regards,

Geoff

Thanks Simon. Will dig more into Rittersville but 6th Ward seems interesting also given the commercial development on the east end and proximity to Fullerton. Not much in way of listings but seems to be value there if you can find something. 

Hi all,

I am in search of my first rental property (BRRRR) in the Lehigh Valley, with a focus on Allentown and the surrounding suburbs. Any recommendations for neighborhoods/ towns that have good investment potential?

Target $150k max SFH or max $100K per unit (small multi) in a class A/B area where we can rehab and rent out at a net positive cash flow.

Been looking at Coplay / Whitehall, Fullerton, Breinigsville areas but open to comments.

Thanks for any advise / direction!

Geoff