All Forum Posts by: Jeff Robert

Get the entity set up first.  It shouldn't cost much in SD, and you'll have it for any banking or protection needs from the start.  And welcome to BP!

Tip of the week from @Cory Mccarthy: "Why does it matter where your CPA is located?"  Find a good one on BP and use skype and email.

Your math looks good, but it's only 1/3 done.  You havent figured in the price of the property/mortgage (or land + construction), taxes, insurance, utilities, marketing, security, and staffing.  You guesstimate 'taxes and bills' at 600k a year, i would doubt that the storage industry has a 50% profit margin, very few companies in the world do.   Run the rest of the numbers, i'd be curious how they look!

I'd check out: https://www.biggerpockets.com/renewsblog/category/...

 Tell that to the Weimar Republic.

Tough to predict the existence or pending burst of a bubble.  Great wealth awaits if you can.   I started a thread last week on this very topic that gained a little traction, so you might want to pick it up there:  https://www.biggerpockets.com/forums/99/topics/274...

And welcome to BP!

If you can find a bank that will finance it in the name of the LLC, you can do that. Otherwise, just buy it in your personal name, then quitclaim it to the LLC post-closing.

Because someone things the property is worth more than $86,373 (13773 + 72600) or they want to protect their interest in the property away from the county (aka the lien holder).

Bueller?

Welcome Abe!