All Forum Posts by: Jorge Barboza Jr.

@Basit Siddiqi Thanks for the detailed response! I have a LLC already and have been ENJOYING paying that $800/yr bill haha. I am a little worried about the due-on sale clause but was hoping to find more tax advantages with having it as part of the LLC.

Thanks again!

Thanks @Lance Lvovsky! I will definitely reach out to a CPA as well.

New Tax Plan Questions...

So, I have a LLC and was thinking of moving my rental property out of my name and into the LLC; however, I want to completely understand the benefits. I know this is the best place to start because the BP community is FULL of talented and knowledgeable individuals. I am open to any and all feedback, especially when it leads to increased deductions and thus more money for investing.

Thanks! 

I will definitely keep you up to date @Brandon Benson 

I am starting to talk to one invest here in LA. 

Detroit is still scary but up 17% since last year and several actions for improvement. I am going to deep dive Detroit because it is still a "blue ocean", no one is getting aggressive there.

wow! Well good luck. Keep sharing your experience. 

@Jordan Falls those look like great returns. How long have you been getting those rents? 

Hey @Brandon Benson Welcome to BP! I am in a very similar situation and have been starting my exploration of OOS. 

Best of luck and let me know if there is anything i can do for you.

Below is what I am exploring:

- Reno

- Columbus

- Fort Wayne

- Detroit

- KC

My goal is to explore first and then make a decision on where to focus. From there I will schedule a trip and get to know the area.

Also looking at high end real estate in California. If you have any information on that please let me know.

THanks

Welcome @Scott Osborn ! I am from California and started to look at investing out of state. Indy is one of those areas. 

I am not an expert but I would assume you can terminate the PM because you dont have a contract with them. You may want to check what legally binding agreement the previous own had.

If, for some legal reason (as mentioned above) you can't drop the PM i would establish very formal SOPs not only actions but check in points and reviews of expectations.

How have you gathered your properties?

Hey @Randall Hicks welcome to BP. I am on a similar path. I am located in California and started looking out of state. Are you looking thru Turnkey offices or just through agents? Any luck so far? 

I am looking at Columbus, and Indy but may start to look at Detroit and KC. I was planning on first getting familiar with one city at a time, connecting with BP members, agents, and turnkey in that city and then heading out there to actually see it. What is your strategy?

@David Hughes thank you for sharing your experience. Good to know that you survived the initial heartburn. Did you use a turnkey investment group or just find the property thru agents? What are you planning for expansion? Need any help? I am looking to partner as well.

welcome to be @Steven Duby ! Please keep us up to date on you progress and PM me if there is anything I can do from a distance.

Best of LUCK!

Jorge