All Forum Posts by: Jennifer Bowen

Hi all,

I heard Brandon say in a recent podcast he often gets loans in his personal name, then converts them to LLCs, presumably through a quit claim.

Just curious about how long you'd need to hold a property in your name before quit claiming and how you can legally protect yourself in the meantime? 

Thanks! 

Hi all,

I am starting to analyze some numbers, but quite frankly, I don't know where to start. 
Anyone care to help a girl out?

I'm looking at a house (on the MLS). It's a 3/2, 1,677 square feet in a good area of town, selling for $167,000. It's got a $750/yr HOA. All carpet.
I see another 3/2 house on the street rents for $1,300 a month. It's 1,460 square feet.  Carpet/wood or laminate mix. 

A 1,664 sq/foot, 3/2 house rents for $1,400. Carpet/wood or laminate mix. 

Good read. And it begs the question, if you're new to the game, how do you prevent professional tenants from moving in and taking advantage of your lack of experience? 

Welcome! 

I don't have any experience here, as I am learning the ropes. But I just came across this section in a book I'm reading no more than two minutes ago. 
"Buying a residential rental property as an investment means that utilities will, for the most part, be paid by your tenant any way you slice it .... For a single-family home and duplexes, the utilities will simply be put in the tenant's name and turned off only if there is a vacancy ... With larger multifamilies, there is often a shared meter cost passed on to the tenants." 

Extremely helpful, all. Thank you! 
Yes, I was all set to go the LLC route, then noticed the annual fees and the fact that it's harder to borrow. I would have to put a rather large down payment to make it cash flow enough to make up for the fees.

Those of you who have them, how do you borrow money through an LLC?

Perhaps starting small with a rental property and liability insurance may be the way to go. I'll talk to someone and ponder on it more. But your replies have given me a lot to think about. 

I want to buy my first property. I have a good down payment saved. I have read an exhausting amount of information (including things here on BP) and truth be told, I am still completely confused about whether I should pursue an LLC or liability insurance. I would not even know where to start.

Thoughts? Direction? Help? LOL. 

Thank you all. The legal stuff is all very confusing. Doing lots of studying. I'll get there someday, 

Hi all,

As has been documented, I'm new to this game and learning and absorbing all I can. I want to get into vacation rentals in Panama City Beach as the market is familiar to me. 
But I have concerns. I have an aunt with two condos in Gulf Shores and she says she loses money. She's an accountant, good with numbers, me, not so much. I know it's a different market, but do any of you who do condos in PCB cash flow positive? What are my options for making money here? 

I don't know all the details, but I think she may be handcuffed by her property management agency in terms of what she's able to charge. But she argues it's harder to rent without them. 

So, what I'm hearing is it is not only accepted but common to buy as an individual and roll over to LLC?