All Forum Posts by: Koo Sharifi

Does self managing a rental that you own under a LLC make it easier to pierce the corporate veil? With self managing, I mean you personally interact with tenant, collect the rent, personally make repairs? Or will you have to contract everything out to third parties? Please advise. TIA!

1 Vote

I am just wondering if it's a bad or good idea to use the same LLC for two different businesses? Specifically, I have created a LLC as real estate agent firm but also would like to use it occasionally to buy a property to flip and hold the property under the LLC.

0 Votes

Which county or city in NoVA or DMV is easiest to do AirBnb in? With easy, I mean, less restrictions from the city or county.

0 Votes

@Jason Sampson what about Chesa6 and Norfolk do they have similar restrictions in STRs?

0 Votes

Virginia Beach, Virginia

@Krissie Cole what are the STR laws in Chesapeake and Norfolk, do they have similar limitations as VA beach. Which city is best for STRs?

0 Votes

Virginia Beach, Virginia

Which company are you working for yourself?

Originally posted by @Tanya S.:

Being a great agent for others is incredibly time consuming when you already have a full-time job and family commitments. What are your goals? Are you looking to just try it out to see if you like it? Are you trying to transition away from your current position into ft real estate sales?

If you are looking just to do your own deals, you might try Fairfax or Samson, both of which have very favorable commission splits for investors (generally 100% minus a flat fee). More traditional brokerages can vary in their commission splits (I found 70/30 or 60/40 for super newbies fairly standard when I was looking at brokerages to join).

I never expected my brokerage to give me leads, as I was not planning to be a traditional agent. Since I had bought and sold quite a few of my own properties already and was comfortable with the contracts and the process, it wasn't too much of a stretch for me to help others buy properties. I've relied on both my broker and a good settlement attorney to help me with any sticky contract questions and take classes whenever when I can. NVAR has a bunch and most brokerages do too.

Your best source of leads are within your own circle of influence - close family and friends already trust you and will ask you to help them. This has been my case, and it has worked out well, as with the full-time job and my own properties, I don't really want to handle more than a few clients at a time. Good luck!

0 Votes

@Sovat C., with PenFed and TD, I was told that I can not own more than 3 properties. Have you been able to find a lender that does give out a HELOC if you own more than 3 properties. Please advise. Thank you.

0 Votes

Looks like the consensus is to let it continue month-to-month. Thank you all!

0 Votes

Hi. What do you all think of using heloc plus my own saving as a full cash offer for a property that I am intending to hold for a long time. Have you done this before? What are the pros and cons as opposed to obtaining 30 year financing?

0 Votes

Hi all. I am thinking of putting one my rental properties into a land trust plus LLC structure for privacy and asset protection. I had a few questions:

1)Who will be the landlord on the lease, the land trust or LLC?

2)Will I then be able to do repairs on the property myself personally or would this beat the benefit on having a land trust for privacy.

Any feedback is greatly appreciated. Thank you in advance.

0 Votes

All Forum Posts by: Koo Sharifi

Koo Sharifi has started 5 posts and replied 10 times.

Post: LLC and self managing

Post: Use same LLC for different businesses?!?

Post: AirBnB in NoVa where is best

Post: Possibility of more restrictions coming to STR in Virginia Beach

Post: Possibility of more restrictions coming to STR in Virginia Beach

Post: Feedback Requested From Agent/Investors in DC/MD/VA

Post: HELOC providers on rental properties in Northern VA

Post: late paying tenant ... continue month-to-month

Post: Heloc as down payment for long term rentals

Post: Land trust and LLC structure