All Forum Posts by: Jeremy Carlson

Hey BP, 

I am looking for a tax attorney who can help me setup LLCs, develop an asset protection plan, gets BD and works with RE and STR investors, and understands different mortgage packages (own occupied vs investment vs 2nd home loan etc...) and understands the law between all these and how they are interpreted by not only other attorneys but also the IRS. Would prefer a local one in FL who understands the state laws and nuances.

Thank you!

Hello BP community! 

I have 2 STRs and am working on my direct booking strategy. Before it can be finalized, we need to have a business name and brand. We have a name we would like to use for our group of rentals, but, I'm wondering what I need to do to protect the name so it can't be used by someone else. Currently, we do not have them in an LLC and have hedged liability coverage with an umbrella policy, and the company does not have a EIN.

In order to protect the name, do I need to trademark the name, put it into an LLC, or some other way?

I was hoping to avoid using an LLC until next year at some point as I do not think I need for liability coverage and with the fees and other rules I would have to follow I think I would rather wait. Also, because of the loan strategies we used I feel it's better to wait at least 12 months for the original loan to season before transferring it to LLC.

Thank you! 

Love it! thanks for that post Billy. I've had great experiences using my own agents in the past and definitely understand the value they provide. As I'm trying to stay an informed investor, I am also always trying to see the big picture and know all my options. Great to hear your viewpoint you make some excellent points. Thanks for shedding light on some angles I did not see. Looking forward to more discussions and opinions as well! 

I have a few questions regarding new builds and what I can expect my buying agent to be able to offer. There are a lot of new builds coming up in an area that I believe will continue to appreciate, and as with other areas in the other country I believe, prices are getting discounted by builders. These could make very good rental units and I am getting ready to make an offer on a few of them. 

In the past, when using an agent to make offers, I expect that the agent I use will make more than their worth to me by helping me to make a competitive offer, running comps, negotiating, having a rolodex of contacts if needed, getting what I need to know about why the original seller is selling, and possibly finding me deals to offer on and so on. However, with new builds, there is not much room for negotiating as everything is new. There will be no haircuts or credits after the close we can negotiate as again everything is brand new. These homes also come with a builders warranty (I believe its 5-10 years or so). 

I am considering reaching out to the seller's agents and seeing if they would work out some sort of a discount for using them, and they in turn would be both the sellers and buyers agents. On some of these homes, even a 1-2% discount could represent upwards of 30k-50k depending on the home. But if I am willing to pay the asking price, this could be the only way I see to get any money off the deal, and again, since everything is new, I do not see much room for negotiation after anyway. Obviously since the same agent is the buyer and the seller this leads to some opposite drivers as far as who they would represent the best and will put who's best intentions forward, but I know people have done this is the past. 

I am hoping someone can enlighten me on: 

1) the pros/cons of using the same agent 

2) what a buyer agent can provide, that I'm not thinking about, that would be worth more than a potential 1-2% discount I could try and work out with the sellers agent

3) how I can protect myself if I decide to use the same agent for both the selling/buying of the home

4) best approach to reaching out to the listing agent to see what they can offer as a discount - if you've done this in the past - what discount have they given you? 

5) anything else I am not seeing or should be considering with purchasing a new build

Thank you in advance, I have learned so much from this forum already and looking forward to a great discussion! 

Hello BP community, 

I have a father-in-law who owns 2 2 BR LTRs in Orlando and his current property management company is horrendous. They do not collect security deposits, have terrible communication, and do not raise rents with inflation. I am looking for trusted, verified property managers in the Orlando area that would be able to help my father in law out as he is looking to switch companies. If they are fluent in Spanish, this is a plus but not necessary. Also, would take recommendations to groups who may be able to help with converting the properties to STR format and help with managing on that end.

Thank you in advance!