All Forum Posts by: Joseph Lucas Jr

@Michael Plaks Lol. Yeah.. I didn’t think it would turn into this.

Incredible follow-up question @Michael Plaks.

I'd also like to see an attorney's take on that.

@Brian Bradley

But could I domesticate to Arizona and still keep the Series LLC intact? Or would it have to stay in Texas to keep the protection of a Series LLC? Because I would rather move it here and avoid having to operate as a foreign entity in Arizona and file in two different states. Just less hassle.

Good morning BP nation,

I have just become aware of the Series LLC, which appears to afford much better asset protection than a standard LLC due to the ability to essentially nest entities within each other. Based off some quick preliminary research, it would appear I can not create a Series LLC in my home state of Arizona however could I not just form the Series LLC in let's say, Texas, and just go through the process of domestication to move it to AZ? Or does the fact that Arizona doesn't allow the formation of Series LLC's prevent me from even moving one in? As always, I appreciate the help BP.

Take care! 

From what i've picked up in my brief time on BP; poke around on BP and make some connections on the ground in markets you are considering (there is obviously an innate challenge to vetting people from that kind of distance, but BP can help that process). I think it's worth definitely taking your time to build a genuine relationship especially if you're entrusting these people with your money from a distance.

Good evening Chad,

I'll preface all of this by saying that I am still very much in the education phase of my real estate career. I have however seen from a few other BPers with a bit more experience that Zillow shouldn't be your primary source of evidence for the homes price. I found this article not too long ago (https://www.biggerpockets.com/blogs/8716/51322-can...) and thought it was a good read. But definitely do your own due dilligence if you are serious about taking the time of a buyer. Get an accurate cost for that flooring, a couple of quotes, and a conservative ARV. Present a pretty package for the buyer, can only help. Again, I'm new to a lot of this as well, take my opinion with a grain of salt. I'm sure some one more experience will give you more actionable points.

Take care.

Good afternoon BP,

I have been on a tear as far as consuming real estate investing information (BP podcast, books, forums etc.) while I pay off debts and get my credit & finances in position to make my first deal. But I would like to get out there and work with someone who is actually doing it. I work a full-time job, but I would love to spend my weekends helping someone out with their properties. I've checked Craigslist, and the jobs section on BP for my area(North Phoenix, AZ) and found nothing. I really just want to lend a hand in anyway I can and pick their brain, hear their past experiences and advice. Any idea where to find people to see if I even have anything to offer them? As always, thank you for your responses, I love this place. Truly changing my life, daily.

Have a safe weekend!

I hear the stories of more experienced investors on the podcast all the time and I’m so glad I don’t have to get into this business without a resource like BP and all of you to help me out. I appreciate all the responses, some incredible takes here. I’m only 24, and I want to make the most of that to secure a financially free future for my family.

@Dennis M. I’m very much decided that I want to do this. I was curious as to what kind of past experiences BP Nation has had. Also, maybe hear a different prospective from someone with experience that would potentially ease my wife’s worries. Help persuade her, I like your take @Randy E.

Happy Friday BP Nation!

I am still very new to the world of real estate investing but I think I’m going to go down the path of buying, holding and renting. Now I talk with my fiance about this and she immediately brings up all of the issues we’ve experienced in past places we ourselves have rented (Hot water was out for 2 weeks for the entire complex due to some landscaping guys busting a line in one apartment we lived in) and how she wouldn’t want to be the one directly having to deal with those issues. As well as crazy tenants destroying the property. Now, landscapers accidentally breaking a line can happen to anyone anywhere in my mind, accidents happen. My question to the more seasoned landlords of BP, is how crazy have your tenants gotten? Are people really just trashing places that often? I understand there are bad eggs but I have to think most people just leave regular wear and tear, am I wrong? I appreciate you sharing your past experiences, and everybody have a safe weekend!