All Forum Posts by: Dani Beit-Or

I'm in OC CA (used to be in the Bay Area before).

Very active in the Nashville metro and only recently started looking into Spring Hill and are actively searching for properties there. 

Until now I have instructed my local team to avoid it due to being further out from Nashville.

Not sure what you are looking for in an area but for us it qualifies. 

They way I know it you file a return in the state the property is located BUT don't need to pay taxes in that state - only yours and federal

It's like there is a "treaty" between states to cover it.

I'm no CPA but ALL the CPAs and tax people I worked w/ over the years follow that guideline. 

If you have a CA LLC you can use the same process you did to setup in another state.

I use some of those online sites that let you setup a LLC + offer you a registered agent for a small fee.

BTW, I have done many LLCs and have never had any problem getting a property insurance. 

I used to live in the SF Bay for 10 years. Now in OC CA.

And have been investing in out of state since 2002.

If you read @Ritch Bonisa I fully agree with him 

Hi neighbor, 

I have found that closing requirements will differ not only from one state to another but from one title/escrow company to another. 

Just call a title agent in the state you are buying/selling and ask.

Why not use conventional financing?

We use it all the time.

Just make sure you find a lender/bank that knows well the type of investment you are making and s/he are licensed in that state. 

@Account Closed I have many years of out of state investing experience. Will be happy to chat. 

@Herman Wu simply answer is use property manager (PM).

They take a cut but also save you time, trouble, close to the property, no the law and create a "divider" between yourself and the tenant. 

Sine you said you are new to REI you can also think about using a PM for 1 to 2 years ad then consider taking over w/o the help of a PM.

Every transaction has many moving parts and sometimes it is better to let others do some aspects of the investment until you become more knowledgeable/experienced/comfortable doing it yourself. 

I'd start by attending RELEVANT meetings and searching for videos on YouTube. 

But more importantly I'd lay down my objectives first such as budget, cash vs. mortgage, type of properties, how much ROI and cashflow I'd like to get, and literately list my concerns so you can address them one by one.

And one more thing, Jan.of 2019 is 18 + months away. If you conduct market researches now they may not be relevant by 2019. I'd say start looking more extensively into the details about 6 months before. 

Hope this helps. 

I'd call few realtors and ask them the same questions and ask how much will they charge. 

If a realtor is not on the contract than s/he has no liability and possibly less work so they may agree to work for some "consultation" fee. 

Call a few and ask.