All Forum Posts by: Tj Hines

@Jimmy Wen absolutely if you want to avoid a tax nightmare. You'll have to pay personal and biz taxes. Be sure to consult with a CPA that specializes in sfr rental real estate.

@Shafi Noss, although I don't think you need one, it can still be of great use to you. It can't hurt having both. There are a ton of passive guys who would love the comfort of dealing with an investor who also has a brokers license. If you're looking to leverage relationships, it def. helps. Good luck

Sorry to hear about this my friend. That has to suck. I'd honestly put it past me and move on. Paying thousands and thousands to an attorney will drain most of your energy, when can focus on how to make things better. Things will come back full circle for that seller. It ALWAYS does. You'll benefit. Sounds like just one tenant you're having an issue with. Take care of that and improve from there. In the future don't move forward until the seller can present with you the last 2 years tax returns and bank deposits. This will give you another way to justify the rents beyond an estoppel. Good luck.

@Jordan Santiago once you pull your list of off market owners you're looking to find, there's a way you can find who the owner of the LLC is. That's simple. Every state has an llc where they file as an entity. Here in Fl. it's "sunbiz.org" I'm pretty sure you can find what it is in your state. I think there may also be a Secretary of State website to where you just choose your state where to file. But running a simple google search should do the trick for you

@Don Thornton depending on how many units the property has 50+ with financing in place can go out 60 days. Have a 30 DD clause in there and a 30 Day financing clause allowing you to back out if you recognize anything that may have come up that will kill the deal. If you feel financing may be an issue, put a clause in there.

@Dennis Nikolaev, those are some good things for you to look at. We use a threshold of 250K + for metros specifically. All though those metrics to determine whether a market is viable or not, present greater challenges such as lack of quality deal flow that can pencil. Although we are always looking at opportunities in primary markets, we're also open to exploring secondary and tertiary markets.

@Jared Carpenter none! As we were just starting out on our journey back in 2017

@Patrick Nickerson yes I do, but I'm not in any position to give you that legal advice as that is not what I specialize in, but generally know how the process goes. Inbox me and I'll send you my contact who we use as our custodian

@Trey Read connect with an operator who has the experience and both you guys could team up with that operator

@Florent Useini its the same every where else my friend. This is a emotionally driven market. Stick to your guns. Hold off and be patient for the right deal. You will have to look through hundreds to find one.