All Forum Posts by: Jack Calhoun

@JamesKojo I really appreciate it 

Hello, my wife and I are looking into the 40+ unit apartment building arena. We have looked into a couple of handfuls of buildings and are having a harder time deciding if it is a good deal or not (we have only bought 4-plexes up to this point). Are there any of those "rules of thumb" to help give the big yay or nay? 

Thank you BP World

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Phoenix.

Purchase price: $290,000
Cash invested: $75,000

A mix of a 3/2 and 3 2/1's

What made you interested in investing in this type of deal?

Less risk with vacancies. Someone moves out and we still have 3 cylinders running.

How did you find this deal and how did you negotiate it?

We found our RE agent on Loopnet and he led us to this investment.

How did you finance this deal?

Personal savings.

How did you add value to the deal?

Raising rent.

What was the outcome?

We currently still own it and it is our best-producing property.

Lessons learned? Challenges?

Find a great Property Manager right away. We had a few months of hardships with the PM we inherited with the property.

Hello everyone, 

I am in need of a better real estate accountant. I live in Palm Desert CA, with properties in CA, AZ and ID. Any suggestions?

Thank you.

@Jessica Zolotorofe

Thank you kindly.

@Katie L.

Thank you for your reply.  Very helpful and good to know.

I live in CA and have created a CA LLC. I own a 4plex in AZ and plan to buy more out-of-state properties. I am thinking about scrapping the CA LLC due to the high yearly ($800) annual tax amongst other things. Can I then create an LLC based in Arizona or any other state where I purchase properties, even though I live out of state?  I am trying to avoid the heavy costs associated with California LLC's.  I've heard that LLC's are not absolutely necessary, but I would feel better for tax and protection purposes to have all business monies separate from my personal monies.  Thank you.