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All Forum Posts by: Huiping S.

Huiping S. has started 57 posts and replied 321 times.

Post: Has anyone used corporate direct (Garrett Sutton) for LLC

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55
Originally posted by @Greg K.:

Wanted to provide an update about my experience with Corporate Direct. I spoke to them about forming an LLC in Florida for the purpose of buy and hold real estate investing in Florida. They recommended I form a Wyoming LLC to serve as a parent company to the Florida LLC. After all of the fees, it was going to run about $1500 total. I ended up shopping around and settled on a very knowledgeable local RE attorney who filed my Florida LLC and took care of everything for $500. Florida is a pro business state with solid LLC protection. I could see the benefits of leveraging a Wyoming or Montana LLC should you live in a less business friendly state or one with much higher fees (California etc.). But, in this case, I can't help but feel like they automatically want to create two LLCs for every situation; I mean, they get double the fees for everything, right? There is also a lot of up-selling that I don't think is necessary. For example, offering to "store" company stock vouchers in a safe in Wyoming for example to allegedly make your entity that much more difficult to "pierce". Again, I really questioned the motive behind all of this and that's why I sought additional council, ultimately going elsewhere. Good luck.

***I am not a lawyer nor offering legal advice! :)

I hope we see this before we spend that double money and so confused..... To find someone local, want to help and will not end phone so fast is the most right choice. 

Post: Being a Landlord Sucks

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

Haha.

I got lots calls and messages from one old woman who wanted to rent one property of us but didn't submit an application. I replied her through Zillow already but she still called and called.... I am sick of the desperate calls so I blocked her phone and made the firm decision. Then her daughter called me and the message said I had discriminations against her.

Never touched one mice yet but felt mice maybe nicer than a desperate callers to push others on their loser way.

Post: Asset Protection for Florida

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

We paid enough money for one well-know law firm to setup the LLCs, including the Wyoming LLC. It is extremely confused for us to answer the questions of off Wyoming LLCs from title transfer to bank when we tried to setup the matched bank accounts.

Nothing else for RE investment made us feel so confused than this LLC process. We are wondering this: will Wyoming LLC, other LLC really SO ADVANCE to be understand by non-legal professionals? ?

Post: Cost of LLC in Florida

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

What is the cost to ask a title company to transfer one property to a LLC in FL? Can anyone have a good title company recommendation in Tampa area also? Thanks.

Post: Any recommendations on Home Insurance in Melbourne, FL?

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

Progressive removed coverage of water damage on one property of us but the insurance cost increased 11% for a under 6 years old property.

Post: 80 years asked her son to co-sign the lease

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

One 80 years old applicants' income is not qualified for one property of us. She didn't show up on the viewing (should not let this happen) and asked her son come. Didn't check her credit and other information officially yet. Now she asked her son (in another state) to co-sign for this lease when I declined her. Never did this before. 

My understanding is parents co-sign for colleague kids.

Can I consider co-sign this applicant: elderly and adult son? 

Her son is living in another state. If move forward, I think need to check his background and income and need to consider his income for his living and then his mom's.

Can anybody share some experience?

Thanks!

Huiping

Look back and found the problem is in NC. :-)  Best wish for you!

FL has too much this type of licensed 'professionals', cheap cookers, but the DBPR is very loose on regulation. Nobody of DBPR is working now although they got paid. To avoid their work, DBPR will ask you endless documents with unclear requirements until you are exhausted. Just find one who can fix it first, keep the documents until you have time and go to small court directly. If you are not local, deal with FL service providers is painful. 

Post: NC Landlord / Tenant rights

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

Keep others tenant is a real headache. Just take the proper action and let them move out. The big price difference, do whatever they did with former landlord.... Now you will charge more and ask them to sign the contract. No focus in life people will focus on how to bother you from day one. 

Post: Help tenant issue- Emotional support animals

Huiping S.Posted
  • Homeowner
  • Tampa, FL
  • Posts 352
  • Votes 55

Twice had applicants with ESA and both are SO emotional human beings! Lucky enough to reject them with their low credit score and can't work with emotional behaviors related things.