All Forum Posts by: Michael Joseph

Thanks Chris and Rob.  I will be making some phone calls today.

Thanks Rob. 

Might I ask, who do you use for insurance?

-Mike

Thanks all for the advice. For those debating the pros and cons to liability and LLCs, you might want to listen to podcast 109. I found it very helpful. 

Thanks

Mike

I am in the process of buying my first property. I will be setting up an LLC as well. How do most people manage the money for their properties? Should I setup a separate bank account and have the money flow in and out of that account? If so, when I purchase more properties should I have separate accounts for each? Thanks for your advice! Mike

I am purchasing my first property. How much liability insurance should I get? Is there special consideration I should look for as I add more properties going forward. Thanks Mike

I am purchasing my first property. How much liability insurance should I get? Is there special consideration I should look for as I add more properties going forward. Thanks Mike

Welcome Autumn,

Good luck with your investments.  Take the time to due your research.

I have been on BP for about 5 months and I am just about to make my first investment.

Let us know if you have any questions.

-Mike Joseph

Hi Tom,

I new to real estate investing and am looking for opportunities that provide a at least a 10% cap rate and a cash on cash return in the teens.  I have about $50k to invest.  I am not finding any opportunities in Chittenden county that qualify because I am looking for B grade properties in either B or C class neighborhoods.

If you think you have something that meets my criteria please let me know.

Thanks,

Mike.

Thank you all for the warm welcome and advice on how to get started.

As for living in one of the rental units...that would be a last resort at this point in my life.  I do understand the value it provides.  If I were a little younger I would do it in a heartbeat.  As a matter of fact, I am recommending to my young adult children that they consider this approach.

-Mike.

Hi Larry,  I am looking for buy and hold.  If the opportunities are out of state then I am looking for something that is turnkey.  In Vermont I am willing to put some work into it.  I can have more oversight and control over a local opportunity hence the higher degree of flexibility.  With out of the area opportunities I would also be looking to engage a property manager.  Either way the numbers must work.