All Forum Posts by: Guillermo M.

In my case I'm the co-manager of the LLC and my partner is the CEO. The operating agreement says (I paste directly from my OA): "The Signature from the members whose capital interest as defined in Article 2.2 exceeds 50 percent and the signature from the Chief Executive Manager are required in order for the managers to make decisions related to (a) the sale of the Company's assets; (b) the purchase or other acquisition of title properties or other assets of all kinds".

If the title company doesn't ask for the operating agreement, how do they know that a manager can't sell the property without the authorization of the CEO and the major investor?

I'm not really sure what that is, I don't remember having filled a document called like that in Michigan.

Hello:

I'm forming an LLC and I find the operating agreement a very simple paper that proofs my ownership, it's very easy to fake. How do I prevent someone to print a different OA and operate on behalf my LLC?

I'm not going to fake anything! but it seems to me like a very weak protection.

I have never sold a property so far, are title companies required to read the Operating Agreement of an LLC when they sell a property?
When an LLC sells a property, does the Title Company ask for the Operating Agreement?
What if the signature of all members is required to sell properties in an LLC?

Hello Joey!

Do you use debt?

Is it possible to know a bit of your portfolio and your annual cash-flow?

I'm young too, just 25

I'm forming an LLC with a friend in Michigan. I will put the 85% of the money, he will put the rest (15%). I will remain as a hands of investor and he will manage and buy the properties (he will earn an extra 50$/house for managing them). According to the operating agreement we are both managers.

The operating agreement says the member whose capital interest exceed the 50% (me) has to approve the sale of any property before the manager can take any action. That's what the agreement says but the manager actually can sell the property without my approval and even withdraw from the bank the money made from the sale since he has full access to the bank account.

What should I do to prevent the other member to steal the properties from the LLC? I know doing that it's not legal and I can take him to court but I want to anticipate to that problem.

Please, don't misunderstand me. I trust my partner at the LLC but I want to have an extra guarantee apart from trust.

I guess you guys have solved this before but I haven't found anything on the forum.

Thank you very Much.

Hello:

After a while I've reach to the conclusion that Spanish market is not accessible. All Europe seems like that, I can't cash-flow on this over valued country.

I'm going to start investing in USA with a friend of mine who's natural from Michigan. USA is now a good market.

Thank you very much for your time!

Any of you with experience in a overvalued market?

Hello guys!

I have been visiting the market in my city Madrid - Spain and the sellers are still asking for a lot money (a lot more 2 years ago but still high prices). My numbers don't fit the prices with the current mortgage fixed rates (around 6%-7%).

I have a sheet with the analysis of one property I liked 40sqmeter, 1bedroom, 1toilet 1livingroom. The right column (blue) are the numbers with the price the seller is asking (it would be crazy to buy at that price) and the left column (yellow) is what I consider a relatively good invest.

The sheet:
https://dl.dropbox.com/u/675003/Property%2520Analisis%2520-%2520Sheet1-4.pdf

What do you guys think about my numbers? and about the property? I can't fit my numbers in any property, do you have this problem in US too? Do I look for more properties or should I change the market place? I think the guy that is trying to sell the house is going to think I want to cheat him or something if I offer him 47.000€ instead of 140.000€ he's asking.

Any help will be welcome!

If you are curious and want to see the property:
http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000005290888&numInm=1&edd=gmap

Sorry for being in silent for so long! I'm a bit busy finishing my career.

Good Point Joe O, fixed Interest rates in Spain are around 6% 7%. Expensive, aren't they?

Andrew Jones, I completely agree. Buying all cash will be a very slow road.

What do you guys think I should do with such a high rate? Numbers don't work out with a loan that expensive. I'm young, hungry and foolish I could perfectly move somewhere else and start up there.

Even thought I have 40.000€ available to invest I still feel my first asset is very far away.

I did not buy the property by the way.

Sorry because of my poor english.

Hi, first of all I introduce myself: My name is Guillermo, I'm 24 and I'm from Spain (you'll notice my english is not perfect at all). I have a small online business that makes around 60.000€ a year... now I what assets!

I've read some books about getting different concepts and knowledge about money like the ones from Robert Kiyosaki (I love then, if you haven't read them, do it!). I've just read one book about Real State "The ABC's of Real Estate Investing - Ken McElroy", I'm not an expert at all but I feel like starting.

Today I was walking around downtown where I live in and I found a comercial property for sale. It's a small one, just 35m2. I called the owner and he wanted 155.000€ (no way), I made a quick math in my head and offered him 47.000€ and he accepted (I thought we was going to insult me or something).

According to my numbers, the ROI is 10% putting 47.000€ down (no loans, Warren Buffet style). I've read in this site some beginner who get over 20% ROI with no problem.

What do you think about buying this property? isn't the ROI a bit to low? what about not buying debt?

Other thing I'd like to mention is that the owner has another comercial property right next to the one I like and he has not rent it nor sale it in a whole year.This makes me wonder if it's a good idea, maybe small business are unstable so my investment will.

What do you guys think? Thank you very much.