All Forum Posts by: Melissa N.

Hello everyone, 

What do you use for rent analysis? I've been using rentometer but came across zilpy and it seems to offer more information. Thoughts on each?

Hi Nick, 

Welcome to BP. It is a great community with very helpful people. Ask questions and listen to the podcast. They offer a tremendous value.

We just made an offer today so well timed. What do you need once you've found a deal and made an offer? 

Sounds like they want to be passive investors. They provide the money, you handle the acquisition, management, whatever else that comes up. They get a check. 

Seems to be fair and plenty of people do that. You'll need a lawyer and accountant to decide the best way to handle ownership since there are rules surrounding syndication (though it doesn't sound like that's really what you're are doing. You'll still need an operating agreement and such if it's a partnership).

Good luck! 

What are you looking to do? Buy and Hold? House Hack? BRRRR? I think Charlotte, in general, will see long term appreciation but I wouldn't just buy for appreciation (too risky).

The areas mentioned are great places to live but it may be difficult to make the numbers work as an investment (Ballantyne, Marvin, etc.). 

Mooresville is a nice area and probably cheaper than South Charlotte (depending on the proximity to the lake etc). Lowes is headquartered there and still commutable to Uptown which is good. Feel free to reach out. 

Have you spoken to a lawyer? Depending on your assets it may really make sense to have it in an LLC. If you don't have anything to lose - then an LLC may not be necessary at this point.

The reason you are probably shying away from switching it without refinancing is because of the 'due on sale clause'. However, your lawyer may advise you to move it to an LLC within your current loan and if the bank tries to enact the due on sale then you can go back to your name. Not sure if that's an option for you but something to think about.

But it depends on how much you are trying to protect. Of course you hope you don't get sued but it can happen (rightfully or wrongfully) so I'd air on the side of caution. 

An LLC is a limited liability company. It's used for asset protection. Still goes through your personal tax return.

An S Corp is a special type of corporation created through an IRS tax election. It helps you avoid double taxation.

Your LLC limits your personal liability if say you are sued for someone slipping on your property. You can have an LLC and file as an S Corp for tax purposes to avoid double taxation.

Hope this helps. There's lots of info on this online. 

Hey Nate send me any info you have on deals.

Hello all,

Anyone have a recommendation for a property manager in College Hill (cincinnati) for 24-units? 

Thanks!

Melissa

Hello Mindy! 

Welcome to the forums. Ask lots of questions. Everyone is very helpful on here. Good luck and let me know how I can help you.