All Forum Posts by: Justin Tortorich

From a "move in ready" perspective, I don't think it would be the best time to buy. From an investor perspective, I think the Lakeview neighborhood in NOLA after Katrina is a prime example of what kind of money can be made.

Hi all.

Anyone doing Temporary Short Term Rentals via Airbnb in New Orleans? I have two big concerns about the city regulations: 

1. 90-rental nights per license year... how is that actually regulated? Can I get 4 licenses for one property to cover 360 nights?

2. Two guests per bedroom instead of bed.

Are there any ways of getting around these regulations? I find them extremely ridiculous. TIA

My two brothers and I are just starting out in this industry. We just bought our first property which is a 4-unit in Baton Rouge. Before things really get going, we would like to sit down with a CPA for a little direction and guidance on Accounting.

Tips/advice? Software: Quickbooks/Xero? Etc.

Does any one have any recommendations in the Baton Rouge, New Orleans areas?

Thanks in advance.

@Scott Davidson thanks for your reply! So just to get some clarity for our situation...

We opened the LLC in December 2016. We then opened the bank account for the LLC. The only expenses we've had are the cost of opening the LLC ($105) and the cost of checks for the bank account ($13). We each contributed about 15k (there's three of us). Aside from what I just stated, we have no income or expenses. We should not have to file for 2016, correct?

When we do actually file a 1065 (for 2017 returns) the K1s are generated via IRS? and sent to the partners?

Thanks again.

Any help would be much appreciated. 

My brothers and I just started an LLC in December 2016 and contributed money to it. We have yet to actually buy a property and rent anything.

I'm pretty sure that even though the company has not purchased any property yet, the company still has to file tax returns for 2016. Can anyone verify this?

If so, what steps do we need to take? How do we actually file a return as a company and how are the 1065s generated and sent from the company to the owners?

Very new to this, so please bare with me. Thank you!

Are there any rental property management apps that let you store all of your property, tenants, history? To dig a bit deeper, is there anything that let's you store things for repairs such as paint codes, maintenance man info, etc.? Thanks in advance.

What are the concerns with investing in Out of state property with an In state LLC? For example... my brothers and I are starting an LLC in Louisiana. One of them lives in North Carolina. If we were to find a good deal in North Carolina, would it be disadvantageous to us to purchase that property under the Louisiana LLC?

Hello everyone! I am new to REI, but man am I interested. My two brothers and I plan to purchase our first property by April 2017 in the Baton Rouge area with our target audience being LSU students. We initially want to start with college rentals and expand from there.

I'm very excited to learn from anyone that has experience in college town investing, family partnerships, and generally starting out.

I look forward to being a part of and contributing to the BP community!