All Forum Posts by: Karthick Bhaskaran

Hello fellow BP, I noticed there was an increase in the assessment of value of one of my properties in Indianapolis. It was increased significantly. Is there a process to contest the new assessment ?    Is anyone familiar with going through this process ?  What steps to take . 

What the cost associated with contesting would be and if it is worth challenging the city of the new value.  Any advice and direction would be appreciated . Thank you

@Mihir Bhimaraju

Hey @Abhishek B. and @Jeffrey Leung . The properties i have are in the Eagledale area. I used Mike Carter from RE/MAX Advanced Realty. I don't believe he uses bigger pockets but if you message me privately, I can give you his info. I believe you can look up his info directly of Re/Max website. 

Thanks @Brandon Hall . I really appreciate you breaking it down for me.  

@Mihir Bhimaraju

Any updated recommendations now for property management @Justin Joseph . Also if anyone else has any recommendations, I would really appreciate it. Thanks

Hey @Carlos Altamirano , Thank you for your input and those references. It seems that 800$ california tax is unavoidable the moment I create the LLC in Indianapolis unless I am a passive investor in the Indianapolis LLC. I have consulted a Real Estate accountant to see how I can achieve this. I plan on creating the Indianpolis LLC with another individual who resides there and will be an active investor, so being a passive investor of that LLC might be possible from what I currently understand. My current goal is to salvage as much cash flow as possible from the two properties I have and the next ones I purchase. So I'm thinking of any and all ways to avoid the 800$ California LLC and other fees for at least 2-3 years till my passive income grows to a reasonable point where I can afford it. Thanks again for your input.

@Joe Kim  Thanks for the input Joe. Do you have any recommendation or resource I can read up getting the right coverage for the umbrella insurance ?

@Louise A., @Jon Pitcher , @Avi Garg  . Thanks for the Input guys. I appreciate it. 

Hi Everyone,  I need some advice on structuring the LLC's and cost benefits. I'm a California resident planning to live here for at least the next 10 years. I currently own two properties in Indianapolis approx 50k each. I plan to purchase 1-2 more this year. I am trying to understand the best way to create the LLC structure. After looking at wyoming , Nevada and Delaware LLC, it seems that the kind of protection they are providing is not warranted or required or helpful for what my long term goals are. 

1) Create an Indiana LLC to put the 2 properties in there. and Create additional LLC's for each 2-3 properties.

2) Create California LLC to be the Holding LLC for the Indinapolis properties ( Pay initial LLC creation costs and yearly $800 fees)

Any advice would be appreciated. Thank you.

Some of the resources I sourced my information from: 

https://www.corporatedirect.com/wp-content/uploads...

http://www.corporatesecuritieslawblog.com/2014/07/...

http://www.keytlaw.com/callclaw/ca-member-non-ca-l...

Thank you  @Benson Juarez

Welcome to BP @Carrie Mansis. Where can I find more info on the LA REIA ? @Tony Han