All Forum Posts by: Grant Rothenburger

@Rasiel Algaze Realtor just didn't understand what you were saying with house hack

I don't disagree with your points about asset protection.

I say what I said to new investors that are caught up on this because we've seen time and time again people want to invest but get caught up in the LLC debate. "Should I make one, should I not, when should I, how do I do it, how much is it...." blah blah blah.

IMO the better move is to forget all about the LLC (unless you need it for hard money) and just go get a freakin deal. Once that's done and you know your way around the real estate industry a little better, worry about the LLC at that time. (again not referring to partnerships or larger/commercial deals, just one person trying to start with one smaller property)

I didn't even mention the people that finally get the LLC started, think they've done something, and never do a deal.

But, if I were working for an asset protection agency I would absolutely disagree with myself lol.

@Jordan Lucas

1. You're awesome

2. Yes you can and it's a good idea

3. It does come with expenses at first, and you may not have clients starting out.

Suggestion for REI experience now (and to save money for after HS):

Bird dog for wholesalers. Do you have your license yet? Does a friend? Drive around, find crappy houses, write down address, turn it over to a wholesaler (a good one that is used to paying bird dog leads, find one here on BP and/or local meetups), make a couple hundred per deal that closes.

I'd say wholesale on your own, but not sure how that works being under age and entering into contracts, I guess you could. Question for attorney.

@Nathan Killebrew I'm 27 now and have gone through, still go through, and probably will continue to go through this. Though it becomes less and less of an issue over time as you stay the path. It becomes more normal and you become friends with other investors/business people.

Honestly, the best thing you can do is tell your friends what you're after and explain that is why they haven't and won't see much of you. Good friends will understand, and may want to join you.

Whoever said you're the average of the five people you are around the most was dead on. Put yourself in situations that move you towards your goals. Spend more time with like minded people than non-like minded people. You'll probably find that you'll still be friends with the old crew, but you'll make new ones that share your interests too.

@Bukka Levy 

A lot of investors are wanting to force appreciation, can't do that with turnkey.

Then there are companies out there scamming people. Unfortunately a few bad eggs make the whole industry look sketchy to people trying to learn the ropes.

IMO, unless you have millions in assets and/or in a partnership an LLC is usually overkill. You can just get a good insurance policy to protect you.

I don't know when the threshold is for it making sense to put properties in an LLC, but not when you're starting out by yourself with SFR's and small multis.

If you go hard money however, you will have to have an LLC most of the time.

@Felicia Bridges No, that's not how it usually works, they just want more business from you.

Pro: save time

Can: make less money (most likely)

IMO one of the best things you could do would be start in a leasing office of a commercial property. MF, self storage, office, MHP. But it sounds like you'd be taking a huge pay cut to do that.

 Of course, there are just so many factors, you'd spend a lot of time going back and forth on here to figure it all out.