All Forum Posts by: Lindsey Keller

I think one shady business dealing risk is worth the money in asset protection.  Protect your personal home and assets with everything you hold dear. . I ran into a very poor dealing with an ex / ex business partner who was upset I ended the relationship. They sued me for 80k  and put a lien on a unrelated property i owned and was selling.  I almost lost the sale 3/2020 - right as covid hit, I almost got sued again because the house didn't close.  This is easily the worse stress Ive ever felt. 

It only takes a simple recorder search and you can have a lien slapped on your property and be sued for things that have no grounds. Had I had things setup with a land trust and Wyoming llc she not only wouldn't have found me, but she couldn't have done what she did.  Turns out it was still unlawful, and I got it removed. $20k later in attorney fees after a pain the *** battle. 

For right now, I am only doing my guest house that is 15 feet away from my personal residence. A PM company would make the endeavor not worth it, and we are only renting it out part time for the time being. 

 I didn't, i ended up buying a different property in Encanto instead. Kind of wish I did now!

Assuming you own the LLC that owns the properties you are going to be PM'ing, would you then need to have a Property Management License in the state of the houses your LLC owns, and your other LLC property manages?

I ask as I am working to Airbnb my personal home's guest house and was told to start a Wyoming property mgmt LLC to run it (Hide the owner) and then put my main residents in a personal residence trust held my a different wyoming LLC. The goal is to have my personal name out of everything a creditor or disgruntle guest could fine. They cant see who actually owns the house or runs the airbnb... Just don't want to have to get my real estate license.

That was my concern. I think I was mainly looking at them to setup the Home trusts, holding LLCs and other LLCs. but with the right verbiage so I am completely protected. Do you have any recommendations for setup of these Trusts and LLC's with operating agreements that are iron clad so creditors/lawsuits cant get to other parts of my life?

Might be a long shot here, I am looking at Anderson now... Had the same concerns. Would anyone who has setup with Anderson be willing to share an example operating agreement or trust terms? 

I am in Phoenix and will be doing a Airbnb soon, who did you end up using? do you recommend them?

I went to search Phoenix market bust and found this thread. I am surprised there are not more people posting about the RE prices right now.  I laugh to think 2 years ago we thought maybe we were close to it. I wish now I would have bought more then.  

Now we are at a really interesting space with supply at an all-time low, demand increasing. Covid has done a number with the foreclosures not going through and low rates/ I am seeing houses that were 600 last year selling at 750k this year. It scares me a bit. I am wondering if when these foreclosures when they hit, how hard will it impact Phoenix? Likely not as much, with everyone moving here...but do we think at the end of this year we may start to see some downturns as Ken states below? 

Would love your all thoughts...

Also for Phoenix market updates, I follow this weekly - https://cromfordreport.com/ind...

For Flips -  JJ liquidators has basic RTA or assembled.  BMO has tons of cabinet suppliers, I also actually have used Ikea cabinets and found them to be very affordable and durable. 

I would say between 1 and 2. This market is really something else. Homes going 14% over asking on average, within 1-2 days.