All Forum Posts by: LaMiracle Schaefer

@Drew Sygit Thank you Drew for your help! I agree, it seems everything gets complicated with an LLC. I appreciate your response.

@Scott M. Hello Scott, I am looking in Texas! Some websites show that a broker license is required for property management. I would assume that is referring to the scenario you mentioned. However, a few other resources I've come across only list a real estate license. 

Hello Scott, I am looking for Texas. 

@Timothy Frazier I was a bit worried about that from what I have read so far. I agree that it probably is best to leave the property instead of trying to transfer over. Using and LLC going forward if the pricing is right does make the most sense. Thank you Timothy!

Hello BP Community, 

Do you need a Real Estate or Broker License to become a property manager of properties that you do not own? Does the requirement vary if you are running a management company under an LLC? I've done some research but have found conflicting information.

Thanks! 

@Billy Daniel Thank you for your response! Did the bank give you any issues with transferring the property over afterwards? I am a little worried about what I have read in terms of some banks trying to call the note. Also, if you had tenants before the LLC formation, did you have them sign an amendment to the lease of who they were leasing the property from?

@Brandon Rush Thank you for your response! I have been contemplating the decision heavily and you provided some great advice. From what I can see in Texas, the process takes a bit longer than a few days but it may be shorter if I choose to do the filing myself. I will continue to research it further. You make a great point in terms of having it in my back pocket. Right now, the pros definitely outweigh the risk in not having one. 

Hello BP Community! 

I'm looking for some guidance on whether or not starting an LLC for your real estate investment assets is a great move when you're just starting out? Is it worth the hassle or is this step something that most would recommend could be delayed? I am leaning more towards starting one from the beginning so that I am not back tracking later but there seems to be many steps I do not understand. Can anyone recommend an LLC service used to help file?

Thank you in advance.