All Forum Posts by: Jamie Yan

That's amazing! Congrats on your next step!

Thanks for the confirmation @Dave Spooner!

@Matthew McNeil May I ask what criteria you were assessing? PS - Amazing work you're doing!

Hello BP Fam!

My partner (not married) and I are looking to purchase multiple properties (1 each) from 1 seller, but current pre-qual doesn't cover both properties. So, to be more "desirable" as a buyer, we're thinking to purchase both properties under either one of us. So we'd likely have to increase the pre-qual which is fine.

My question is, is it worth it to set up an LLC for these 2 properties? What are the pros and cons?

Thank you!

Yes, buy and hold. I've started to considering that criteria change, tough pill to swallow, but what can ya do in this crazy market! Thanks for your insight @Arthur Garcia

@Arthur Garcia

Thanks @Abel Curiel@Joe Villeneuve for your perspectives!@Joe Villeneuve

Hi Big Pocketeers,

I've been focused on a single market (several zip codes) and have done quite a bit of research. I do my due diligence and analyze as many properties as possible when they come up in the MLS for over a month now. I've also been disciplined in making sure I stick with my criteria.

I understand the market is red hot right now, so I'm trying to keep my expectations in line. My question is, should I keep up with this focus? Or would it not hurt to venture out to another market? My goal is to acquire my first rental (buy & hold)... hopefully soon!

Appreciate any advice! Thank you.

Hi Cary, you're in the right place for advice! So many helpful and passionate people here.

I think house hacking is a great idea, but is difficult in LA. If you're willing to move - I agree with Sarah. You have an advantage investing in Ohio since you are from there. 

As for SDIRA, I've thought about this as well. I came to the conclusion that I will not be going that route because of the limitations. Like Dave mentioned, you can't touch any of that money without severe penalties, and it's much harder to leverage money you make from using SDIRA. I ran into this resource while on the BP site: https://www.theentrustgroup.co... (Note: it's a paid sponsorship on BP) but I think this sounds like a great way to find more information. 

I've started reading David Greene's Out of State REI, and so far so good.

@Warren A. Thank you! Ahh, it's what gets me so excited! Certainly a wonderful community.

Congrats Carly! You've come to the right place - there's a wealth of knowledge across all fields here. I'm also looking in the DFW market and boy, it's hot. Keeping my focus and patience. 

Good luck on your real estate exam!