All Forum Posts by: Javier D.

@Cody Malave

St lucie county? You have palm beach right below you as well. Its a good area. You can find decent deals just harder to find.

@Scott V.

Depends which sports car. 70s dodge or porsche i say you are a brilliant man. Some chevy or japanese id say dummy all the way and go back to school.

@Cody Malave

You did Cody and you live in a great county for real estate. Good luck.

@Cody Malave

The personal account only holds income for the properties i have directly under my name.

Each llc has its own account as well which holds 15% of gross for the rents of those llc held assets . Each account keeps the reserve for the pertaining properties held in title by that account name.

Account 1 llc gets rent from the 4 properties held in that llc. I leave the 15% in it and utilize it in that account.

Lol its not as complicated as it sounds. My checkbook has 7 different checks and ill pay subs/property taxes/liability/repairs etc from the corresponding accounts.

Its actually super organized. Im always looking for more efficiency though so ill keep a close eye on this post.

@Cody Malave

If you are a single member llc then its considered you as far as taxes go meaning do what you want just keep records and clarity for your accountant.

I have a dropbox folder i share with them which includes an excel of certain transactions such as purchases, large transfers.

I keep about 4 sfh in one llc lets call it xth1

Next 4 xth2 , xth3, xth 4

I also have an account for the properties which sre under my personal name which are mortgaged.

Commercial properties are each under 1 llc and each llc has a bank account. Have 3 personal accounts one is my personal account, one is savings, one is for cap ex/repairs.

I transfer on the 6th of each month all profit to my personal accoubt from all llcs. I leave 15% of each months gross in each of the sfh llcs and 15% plus mortgages in my personal where i deposit the personally owned properties ones(mortgaged). Once my repairs/capex reach a full months rent i transfer them to a high yield savings or cds. Wish i could find something with a better yield but everything is compressed right now.

Sounds complex but its not.

@Michael Glaspie

Reonomy?

@Brandon Rush

So many opinions here. Im not closeminded to mentoring programs although I’ve never done one nor do I plan to at this moment in time.

With that said I believe they can be a great tool but I wouldnt spend potential seed money on it early on in an investing career.

I see sports references here but you dont put a football in a babys hand and say ok lets train this baby to be the quarterback of the dolphins. Not to say he wouldnt be better than our current quarterback but I believe maybe we should see if he likes throwing a football? Does he want to throw it?

The better question would be what are you trying to do? Where to start? Short term goal(1 year) , long term goal(5 year) . Maybe you’ll get better advice there even a more specific mentorship program better suited for your needs.

@Jay Hinrichs

Lol same down here in south Florida but with the boat captains.

@Todd Wheatley

Nothing a little liquid nail cant fix.

Like @Jay Hinrichs said unless you want to throw a hailmary discount request you cant walk away from. Id need to get a full rehab to deal with this.

@Caleb Heimsoth

If you dont mind me askibg: What should he do morally speaking?

I think morally speaking if he is not legally liable he should be direct and concise so they can expedite repairs instead of waiting on his response hoping he will willingly open doors to giving these buyers a lifetime warranty on an old house.