All Forum Posts by: James Kim

 @mike

thank you for your feedback. Still learning and trying to figure out what my own preferences are and what my options look like. Appreciate  your help.

James

 Hi Mike,

Thanks for the feedback. I don't know what's better for cash flow, but personal preference would be families. I'm not too interested in young hipsters or student housing. If i'm looking at the suburbs, and say there's a hospital out there and the surrounding housing is generally more families. Would renters tend to want SFH or a unit within a multi family building? I would think the price point (assuming same sq ft) would not be too different either way. So i would think families would want to rent a SFH rather than a unit in a multi family property. This compared to say closer to metro areas, if I'm looking for families i would tend to thing they would want to be around the city rather than in it. Just my thoughts, though any feedback is welcome as i'm learning too.

Thanks

James

 @Jay Hinrichs - Thanks for the feedback, very helpful.

 @Chris Seveney- much appreciate your feedback.

Hi BP,

Has anyone done out of state investing where the property had coin operated washer/dryers? How did you handle the collections/management of the money for the washer/dryer?

Thanks!

James

Hi BP,

I'm curious (as I've never gone through with one myself yet) what I should generally expect with rates on private/hard money lenders? Is there a general mark up above market rates that is typical? or is it just a separate market? if so what are the rates these days that people see? Just curious what I should expect.

Thank you in advance!

James

Hello BP,

I'm wondering if anyone can provide some insight as to what types of areas are generally better for multi family (5+) properties if I'm looking for some appreciation but more for cash flow? I'm thinking this would land somewhere in the C+ or B class property. I'm looking around for a 5-10 unit to just scope different areas and what's available online (though i have heard anything listed is something nobody wants - not sure how much truth there is to this with multi property) and not sure whether metro (like close to down town areas) are better or the areas peripheral to the metro areas or in the suburbs. Thank you in advance for your feedback!

James

Hi,

I know that on formation of an LLC in Wyoming you need to list the members and non-member managers if someone other than the members will manage the LLC. I also understand that if the members change you have to file amendments to the LLC charter(sorry if I'm getting my legal terms wrong). My question is whether I have to notify the SOS if I change the non-member manager of the LLC to one of the members of the LLC. So basically I'm changing a manager-managed LLC to a member-managed LLC, do I need to file LLC amendments with the SOS for Wyoming?

I'm planning on changing the manager of my LLC from a non-member manager to myself (member) and wondering if I have to do anything other than putting something in writing amongst the members that we are doing this and also notify the current manager in writing of this change.

Thank you for your help in advance!

james