All Forum Posts by: Liam Barnes

Hi BP!

Was listening to Podcast 162 all about tax advice, guest Amanda Han said that for investors adopting a BRRRR or Buy and Hold strategy (>1 year) there really is no tax advantages to holding your properties inside an LLC - which is great for me because as a long time US resident on a temporary visa I can only be a passive investor in an LLC which I open (meaning I cant play any active role in the company).

QUESTIONS Id love to hear from anyone in the know on.....

If I were to invest and work with a partner, Is it possible to resort to using legally binding agreements (rather than an LLC for myself) to decide how profits etc are split up?

And, Can I still write off some business expenses related to my investments, e.g. business travel.?

Thanks all

@Brett Vincent will be following this thread. After the same sore of info - sorry i cant be of help. 

Hi BP, 

Im looking for a reference for a mortgage broker in Manhattan / Brooklyn NY who will look at financing me for an out-of-state property investment, likely a multi-family Apt. Ideally someone who has experience working with investors wanting to use equity to reinvest back in real estate. I have excellent credit and am a foreign national on a visa. 

Thanks in advance!

I'm blown away, thank you all for your tips and suggestions. Really excited to get more involved in the community here. 

@Evan Burke I have been wondering if there might be somewhere closer that still presents a good investment opportunity - never heard of that 2 hour guide, ill be sure to consider places closer to home too. 

@Brandon TurnerThanks for the welcome. I've been consuming your Podcasts and a webinar at a furious rate the past couple of weeks - really appreciate the way you delve into things your guests say, so a beginner like me can understand what something is, how to do it and the reason to do something. Also just started reading the beginners guide and the Seven Years to Seven Figure Wealth e-books you wrote - same comments on your writing style, everything so far has been easy to take in. 

Thanks @Dave Visaya, feeling the love!! P.S. I visited Cebu City about 10 years ago...had a great time. Lovely city. 

@Paul Timmins really appreciate the detailed advice, thank so much for taking the time. The HUD & REIA club meetings are tips I haven't previously come across, same goes with the most of the reading suggestions - lots to read which is great! Likewise I haven't read or listened to anything on niche or student housing, so wasn't aware rents can be more. My intuition would have been that student housing rents were probably lower than average. Would you mind elaborating on what might fall within the niche classification?

Hey guys, 

Just taking my first steps into the world of real estate investing - trying to get myself educated as fast as possible, initially to the point that I can close my first deal. 

I live in NYC but looking to invest in a different state that offers better purchase value and appreciation potential. That said, would love to hear tips people might want to share about investing in a city you don't live in, or necessarily know much about. I'm thinking I would like to build up my portfolio in one city and get to know it very well over time. 

Fruitful investing everyone! 

Liam