All Forum Posts by: Matt Holt

I have been doing a lot of research on how to legally structure my properties. I currently have a SFH and a duplex located in Ohio. My SFH used to be the house I lived in so that is still in my name. The duplex I bought using an LLC. I have also heard of people who keep the properties in their name and just have an umbrella policy for protection. I have seen so many different ways that people use LLCs and I am trying to see what everyone else is doing. I have considered doing an LLC per property but it's just not practical as I continue to acquire more properties.

@Ray Harrell I will make sure I make that clear to my tenants. Thanks Ray!

@James Wise I appreciate the advice!

I recently had a situation where roommates were not holding up their end of the bargain so the other roommate wanted them gone. The situation has since been resolved but I was wondering what the best way to handle roommates as a landlord. I screened and made all three sign the lease together.

Is it best to just let the roommates hash out their issues and just make it clear that I need a check no matter what?

Any suggestions for the future or past stories would be greatly appreciated!

@Raden Mantuano

Going back to your net worth question, not that it matters in the beginning of your investing career, but if you pay 350k for the house and it’s worth that then your net worth will still just be your student debt -20k. Net worth is simply your assets minus liabilities.

Also I am not super familiar with the LA market but is $300 cash flow good for a $350k purchase? Is this a single family or multi family?