All Forum Posts by: Mark Bushong

@Rita Casco How big is your flat roof? (Square) I know it depends on market and type of material used but do you mind giving me a ballpark price per square you're paying?

@Clifford Paul That's excellent! I don't typically have a lot of free time to install a roof myself. However I will do some digging to see how much I could save by trying. Might be worth it to learn.

@Nik Moushon Interesting! I wasnt too sure about roof access in this one. Thought I'd need a tall ladder to check it out. One thing I may do, is get a few quotes from contractors on roof conversion cost versus flat roof replacement. But if I can get eyes on it that will go a long way. I still will use the roof as leverage when making an offer. 3 out of 4 units are already rented out and this has a very solid parking lot for a 4 plex in my area. A block from a decent park and walking distance to some shopping as well. I like the property, just want the numbers to make sense.

I have been searching for deals on small multi family units in my area (Tri cities, MI) I recently found a 4 plex that is listed rather cheap and has a flat roof. I'm thinking this is part of the reason for the low price and long time sitting on the market. Before I spend a lot of time and effort performing more due diligence on this property, has anyone else dealt with a flat roof before? I am wondering if it would be cheaper long term to have it converted to a normal roof or if a typical flat roof replacement would be better. I am betting based on google earth images that the roof is in need of replacement soon. (Although that is not for certain) Anyone with any experience in this area?

Wow. Thank you Ali! That clears up my concerns. I truly did not know about the due-on-sale trigger. That's a valuable piece of info. I'm moving forward with my investing without an LLC for now and will revisit in the future if I think I need to. Similarly to how you described your properties in the article. Thank you again to everyone who posted advice. This network is truly amazing.

Great advice everyone. Thank you all for your input. I think I know my next steps. I'm going to speak with a CPA about my personal scenario to see what protections I should be worried about, and if a LLC is right for me. As well as make sure I have a umbrella liability policy. Thank you all again!

Follow-up question; Can I put a property under an LLC after I've already brrrr'd it?

Very good point. My risk is probably relatively low with only 1-4 tenant which are the properties I'm looking at to start. There are definitely fear related items slowing me down. This is one.

Interesting! I had not considered separating each property into individual LLCs. Glad to hear from someone from the Tricities!

Hi everyone, I am a new investor in the Tri City area in Michigan. (Bay City, Saginaw, Midland). I am looking into multiple different multi and single family homes to start applying the Brrrr strategy to. I am wondering, should I start an LLC in order to begin buying property? I have some concerns of "worst case scenarios" imagining a tenant sueing me for something rather than a business that can be liquidated quickly and closed if it went that badly. Newbie worries I assume. Anyway, what are everyone's opinions? Pros and Cons to each? Thanks in advance.