All Forum Posts by: Justin Beaudoin

@Tracy Spencer I would love that!

I am sure there is a good forum thread to direct me to for this question, I could not find one. Please direct me after review of my questions.

With a PARTNER and a BIG vision: I would like to create a "brand" holding company, say "INCOME PROPERTIES".

With in that company we will buy assets, say first property a 24 unit building called "ParkDrive" this one is owned by just my partner and I and has (75% LTV)

Next property, "RiverView" is a 48 unit building owned by my partner and I (50%), then two other investors 30%, 20%. (75% LTV)

Third, property "RidgeCrest" is a 106 unit building, syndicated by my partner and I (20%) and the remaining (80%) with private money making up 100% of the purchase price.

And so on.

I understand I can do individual LLC's for certain size portfolios based on LTV for asset protection. I am more looking for the holding company name and value it will create long term (potential sale or go public, etc.).

First,

GENERALLY, how is this structured with legal protection with all of the different scenarios.

GENERALLY, how would this best be structured for tax planning.

Second,

Is it worth it (costs/cost savings & protection & brand). SHORT term vs LONG term. 

Third,

Thank you for your expertise! 

I did not. The family was able to rent from a neighbor of their’s instead. Otherwise I had planned to.

@Daniel Gray Thank you!!

@Nicholas W. thank you! Defiantly agree with being sure the tenants can fully support the rent with out the help of the insurance company.

I have a few questions in regards to a short-term rental inquiry:

Background: I have ALE solutions contacting me about one of my single family homes for rent. They claim they are searching for local home owners displaced from fire damage of their home in the area. They also say the family would do all of the signing of lease, the background checks, application, etc. They said I would receive the rent check right from their company, but they will not co-sign the lease. As I understand this company is hired by the family's insurance company to find them a home while their home is repaired from the fire. They would like to do a 6 month lease (possibly longer depending on how long repairs take on the fire damaged home) and claim they will pay a "premium."

Here is ALE's response and list of questions:

Its for a local family that had a fire to their home.

The family (2 adults, 3 children, 1 dog) will be the ones to view the property, apply, sign the lease, and put down the security deposit just like any other tenant.

The only part that is different is our company will be sending the checks each month to pay for the rent, so the rent is guaranteed to be there on time each month.

We just need to send all the information to the insurance company first to review before we can have the family come view the property.

Once the insurance company reviews it, the family will call you directly to set up a showing and to apply.

You are free to interview them and ask any questions and then decide if you are comfortable renting to them.

If interested, can you get me the information below please?

Will you accept our company checks for the rent?

Your contact information?

Is renter’s insurance required or preferred?

What appliances are included?

If the washer and dryer is not included, is it gas or electric hook ups?

How much would the rent be for a short term lease?

Security Deposit ? $

Pet Deposit?

Application Fees?

Cleaning Fees?

Any other fees?

First available move in date?

Does the lease need to end on the last day of the month?

Option to extend Month to Month once lease expires?

Will the rent be the same for the extension?

Is a 30 day notice to vacate at the end of the lease okay?    

My questions:

Has anyone had experience with this? and should I consider this?

How should I respond to the underlined questions above to benefit our company (knowing this is being paid by the insurance company)?

I am asking $1,195/ month, what should I ask for the premium?

What should I be aware of?

Thank you so much in advance!!

@Daniel Gray Could you provide some insight on Bluefrog's rates, please.