All Forum Posts by: Kody Crouch

@Chris Gantz I would think it's better to have a California-based lawyers or CPA who specialize in Real Estate. The point being that as a California resident I'm more worried about California law than Wisconsin law.

@Bill Hampton I am not trying to avoid taxes, but I am certain that California will charge fees for stuff like maintaining registration for an LLC or storing records for the entities and those fees might be different for different types of entities.

I live in California, and have recently closed my first few real estate deals in Wisconson. I want to create entities to protect my personal assets from consequences of the real estate business.

As I understand it, the two entities that make the most sense for California Residents investing out of state are a Series LLC and a Delaware Statutory Trust. However, they offer slightly different protections and costs. California also has special fees that apply to out of state LLC's, and I don't understand whether the tax treatment of these entities are different.

Would appreciate any advice, as well as a reference for a lawyer to advise and help create protections offered by different entities (Series LLC vs Delaware Statutory Trust for example) and a CPA to help advise on the costs/benefits of using those same types of entities.

Milwaukee neighborhoods don't seem to have clean lines demarcating what is a "good" neighborhood and what is not, and sometimes a single block makes a big difference. Ask your realtor or local advisor whether this property is right between a neighborhood that's safe and one that's questionable. If it is, then you need to group your comps accordingly. For example, if comps to the southwest are 180 and to the northeast are 90... well in that case 140 might be a very good price or terrible price and you need somebody who can help you know whether your property should be compared to those south and west or those north and east. 

I'm a software engineer at HouseCanary, which makes real estate software such as the ComeHome app. After starting my new job I just had to start investing in real estate.  My favorite part is all the people I get to talk to and interact with, so much different from my head-down professional life.

After a few months of scouting a dozen cities to potentially invest in, I picked Milwaukee, not because it was the best place to invest but because it was the first place I got a realtor to engage seriously and start sending me decent leads that matched what I described in my intro.

I like to send out 1-2 offers per week even if I don't think they will be accepted, as long as the price would make it a great deal.