All Forum Posts by: Jin Kim

Hi Nathan,

I am not a lawyer or a tax accountant, but do you plan on getting an LLC for rental properties? From what my lender told me, it is difficult to get a loan under an LLC.

Also when you buy a property, there is usually a clause in there that you will not change title even if its to your LLC. If you do a quitclaim deed to your LLC and the bank finds out, they can technically call up your loan.

From what my lawyer told me, he recommended buying the property under your name. Then make an LLC and have you (the landlord) rent to the LLC. From there let your LLC sublet to anyone they would like.

Also, unless you net profit a certain amount, my accountant told me you will be losing money because its cost roughly $800 to upkeep.

Hope this helps and it is what you were looking for.

Yes, I am still buying properties in this market. I am in this game for the long term and statically the property will be worth more in 30 years than it is now. I even bought my primary residence last year because I knew if I did not buy then, houses would be way out of the price range if I wanted to pay for a SFR. As far as rentals go, as long as I am making a profit, I know in the long run it will work great for me. I am making more money now from my rentals than I ever thought I would.

Hi Everyone.

I am thinking of doing another zoom meet up on Thursday the 17th around 6pm?

Let me know if that is a good time for most people.

Hi Everyone,

We are going to schedule a zoom call for this Saturday at 5pm. Just a quick first meeting where we can introduce ourselves and help us mastermind and make all of us better investors.

If you have not done so, please message me your email so we can send you the zoom invite later.

Looks like email can't be put on here and send me a message with your email please :)

Can everyone provide me their email address so we can start setting up a zoom call?

@Will Wall Sounds good! We are actually working on a zoom call soon.

@Tunde McConnell That's awesome and great to hear! Santa Clarita is a great place to invest for SFR as long as you find the right property with cash flow. Also, the renters for the most part are great in SCV.

How much is the ADU costing you?

Hi Brett.

How many bedrooms and bathroom and where is the location?

Anything that would stand out to intrigue people to pay more? Like a big backyard, pool, etc?

@Jorge Carrera Hi Jorge. What are you looking to invest in specifically in the Palmdale/Lancaster area? A fix and flip or a rental?

@Hengky Lim Hi Hengky. I will keep an eye for you on Palmdale/Lancaster area and let you know if I see anything.