All Forum Posts by: Jo Lynn Tan

Hi @Dave Williamson, I know this is from 10 months ago. But I'm curious. What happened on the reinspection? Did you follow through the deal in the end?

I'm looking at Birmingham market at the moment. So I'm soaking up all these things that happened for my own learning. Big thanks!

Originally posted by @Dave Williamson:

Originally posted by @Mocellie Bitting:

Originally posted by @Dave Williamson:

I'm under contract on a turnkey rental property. The inspection report is at the link below. The seller has offered to fix most or all of the issues. This is in a B neighborhood.

What to you see as potential red flags? Should I get any specialized inspections?

http://alatechinspection.com/rports/424_13th_court....

- Dave

I'm familiar with the turnkey provider thats looking to sell you that property. I've sold them several properties acting in the capacity of a wholesaler and that doesn't resemble the quality of work they do.

My belief is that their either managing that property for a investor and there helping them sell or they picked it up as a wholesale deal and there trying to turn it quick without doing a full rehab thats the reason there more than likely offering to remedy any and all problems..

As well you may want to confirm thats actually a B-class neighborhood because I don't think they operate in B-class area's.

If I can be of any assistance let me know!!!

We may be talking about different providers. This one works in mostly B neighborhoods and has a great overall reputation. Before I had the inspector come out, He let me know that he had not inspected it yet and that he had not been in the crawl space. The HVAC is also slated to be replaced.

I'll post a follow up once we determine the extent of repair for the other issues.

- Dave

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Hi Dierdre, I'm interested to hear some responses on your questions as well. I hope you don't mind me tagging along and following your post. Based on my reading in the forum so far, I wonder if Indy experts like @Ryan Mullin or @Shawn Holsapple can chip in? Not sure how the tagging works. But I'm gonna try :)

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Indianapolis, Indiana

@Henry Camacho, I'm in the same situation as you - starter, looking at setting up an LLC (more because its the most strategic option for me as foreign RE investor ). I have found some sites that could set up the LLC online for you by charging you service fee. You can find them easily through Google so I won't be listed them here. Also I haven't used any of them myself so I couldn't recommend anything.

However, from what I learned from intensive reading, setup fee could be key only if you have a huge company. Could someone else care to elaborate on this? Several things to look at will be the recurring annual costs - state income taxes, do you need registered agent in the state? I've read about Nevada is adjusting their costs/taxes for setting LLC. I'm not exactly sure of the details. So there will be most costs incurred than how it is now. Please do read up more on this yourself as well.

I'm personally inclined to set LLC up in Wyoming using a registered agent but I'm still reading up all articles here why I don't hear about it often enough. Sorry that I can't say more. But I'm just brain dumping what I learned from my own research. Curious to hear from others that have experience in this area.

2 Votes

All Forum Posts by: Jo Lynn Tan

Jo Lynn Tan has started 2 posts and replied 13 times.

Post: Inspection Report Advice

Post: Neighborhood Directly South of Fountain Square

Post: Registering an LLC in Wyoming