All Forum Posts by: Luke Saglimbeni

am I being too paranoid or cautious to have just one per llc.  annual fees can add up but to be honest its a small price to pay if a lawsuit commences.  

As an accountant and financial advisor I suggest: first start with a monthly budget.  Pinpoint where over spending and under earnings are located. If you are bleeding (expenses more than income) focus on increasing income first while simultaneously cutting back expenses.  Don't say, "I cant afford it, but rather how can i afford it." -robert kiyosaki  Focus on passive income.  Read rich dad poor dad.  Good luck and never give up.  Any more questions feel free to reach out.

Does anyone have info on real estate meet ups in Hampden county MA and Hartford county CT?

Thank you

Unfortunately, CT and MA do not offer Series LLC's. Thank you all for the responses. I do know that in order to not be taxed twice the LLC should be created in the state where the property is located. Depending on situations I will have to have at least two CT and MA. But additional LLP or LLC if I want partners. What can a tenant sue that isn't protected by insurance; my dad asks? I feel I'd sleep better at night with one prop per LLC; however, multiple props in an LLC may be more beneficial when applying for loans..?

How many properties in each LLC do you hold. One per llc? Or more? Can tenants sue funds from other properties in llc?

What is the principal balance due on the original loan is it the 53k?  Wrap around mortgages would work however, you wouldn't want to sell it for a loss on both the capital loss side and the cash flow side.

I would reach out to the seller and ask for refinancing.  If you've been paying on time and taking care of the place he or should shouldn't have a problem with more interest income.

Worst case scenario, your LLC goes bankrupt, you walk away from the deal with experience and your personal assets in tact. Good luck

Where can I go to obtain a list of properties with no claims against them?  Including commercial properties.

Handy is my weakness and downfall, hiring this out can be a pain and eat into your profits.  Relying on other people is tough too, as I have trouble trusting others.  But once you are more established as others have said, putting your time in finding and creating deals will bring in more equity so to speak per rich dad poor dad.