All Forum Posts by: Kate Daye Ruane

There aren't as many multis up the line as SFH (especially compared to scranton and surrounds). But there are some decent SFH hitting the market every single day! Lots in turn key condition around 100k or less, that would rent for 1200-1600. With rates right now, you'd be making great money! And don't be afraid of Scranton. Just look for taxes on the property as the vary like crazy - but aren't ALL bad.

Tanner, I see that you’re an agent so you probably don’t need a buyers agent, correct? I do specialize in investment properties in the Scranton area and get my hands on some larger portfolios as well. What are you looking for in your investment(s)? What sorts properties, prices, and numbers? If I get anything I can send it your way and also am open to discussions in what’s realistic in our market! 

Congrats Lizbeth! Welcome to the family of investing agents ♥️

Hello Chris, there is a way to properly write the agreement of sale / offer to allow this to be closed and recorded in the LLC. It's nothing sneaky and no transfer takes place. This way the LLC can be created by your attorney at same time that they are handling closing. We do it every day :)

Absolutely! Many buyers choose to put each house/property under their own individual LLC and even name the LLC after the address to keep it straight. All depends on your strategy and goal! But as far as timelines go, it's both feasible and common. Your attorney can take care of it all for you. Hope that helps!

To answer your exact question specifically:

It is absolutely best to put the properties under an LLC for your own asset protection, but you do not necessarily NEED to form the LLC prior to purchase as they do not take too long to create; many of my clients have their closing attorney create one for them during the closing process of the property. I would be able to write the sales agreement in a way for you that you could contract the property under your name, but close it under the LLC with no additional cost or headache. But yes, transferring to the LLC AFTER the purchase, could cost you a bit of unnecessary paperwork, time, and money.

The only situation that I would definitely recommend getting one created prior to searching and making your offer as opposed to during is if you plan to purchase the properties with cash (vs. loan), as these contract periods to close are generally much shorter than if you needed to utilize financing (2-3 weeks vs. 4-6 weeks). It also never hurts to be prepared and is a wonderful step in the right direction! Possibly in doing this, you can form a great relationship with a local RE attorney who you trust to handle your future transactions. If you'd like recommendations reach out!