All Forum Posts by: McKenzie Benson

Sorry for the EXTREMELY LATE post. Who are you using as your handyman? Looking for one who can hang a new front door for me and other odds and ends that come up.

I am in need of recommendations of some good/reliable contractors in Lake Charles, Louisiana.

I would like to thank everyone for the comments concerning my first question.

Question 2: From reading some of the posts it seems that it is pretty unlikely to obtain financing in which cost of repairs are rolled into the deal. I have read posts concerning the 203k loan program and wanted to know if any of you have used this program and if so, what are the pros and cons you experienced.

Hello BP,

I have a series of questions to ask concerning a business structure so any help that the community could offer would be great.

Question 1: My family and I (wife, mom, brother, and dad) want to start a buy and hold company and I was wondering what business structure would you suggest? Originally we considered a LLC but from everything we have read, we have found that we cannot get extended financing due to having our business structured as an LLC. We considered having an informal but legal business arrangement (governing rules created by an attorney). I would like to have the protection of an LLC but not the restrictions. Your comments will greatly be appreciated!!!!

Thanks. I looked into Lifestyles Unlimited but after hearing about BP I decided not to. I've read about the Rich Club and was interested in going to their meetings. I just wanted to get a pulse of what people in Houston are doing. Thanks guys!

Hello Group,

Does anyone know of any GOOD REI Clubs in Houston that they would recommend. Thanks!!

Thanks Ali. Point well taken.

@ChristopherLeon - What do you mean when you say a "huge special assesment". Is it when the complex is about to undergo major renovations and owners are responsible for a portion of the cost?

I have also heard that some complexes do not allow investors. Have you heard of this? If so how could I find out besides word of mouth, I like to see information such as this in writing.

Thanks for the tip David.

I will be attempting to acquire my first rental property in the next month or so in the Houston area. I have been listening to the Podcasts and I believe I will try to use an investor to assist in buying the property so I don’t have to spend so much out of pocket. There are townhomes in the Houston area that are in good condition that I can purchase for around $45K. There are also homes that can be purchased for a little more than that price point. Which direction should I go townhouse or small home?

Thanks for the advice everyone. I have been doing a lot of reading recently and I am now ready to start posting questions and getting insight from everyone.I look forward to receiving your valuable insight.