All Forum Posts by: Nathan Cross

@Brandon Carey hope I was helpful in some way. The great debate of to LLC or not to LLC will always be muddy water. Just depends on your plan.

@Michael Ablan i will

Have to check that out!

@Brandon Carey I plan on flipping with my parent LLC, since a flip is transactional. The child LLC is for long term holds. That's what I am doing

@Luke R. Of course glad I can help.

@Brandon Carey I personally am not doing that, because the parent will be the one doing the transaction. So when I buy a property that needs to be rehabbed I will place it under the child right away after I purchased it with the parent.

@Luke R. So I use propstream to Aggregate the data of the type of properties I am looking for. You can really refine the search criteria down. Then I take that data on skip trace it with leadsherpa and send out text to possible owners.

Hi Matt. Thats great that you are taking the steps into using real estate as a way to build passive income and wealth that you have control over! Everyone starts out in the same way as yourself, but if this is what you want to do, then you have the ability to make it happen. 

So I am sure you have read or heard about the term "house hacking". This I believe is the best way to start your Real Estate journey and still work a 9-5 job. Since you may have enough money for a down payment or good credit to be able to get into a first time home buyer program as well. 

This will allow you to have someone else or multiple someones (2-4 unit) paying your mortgage while you live for free. I hope this helps, and good luck on your journey!

Hi Jay, Since you are driving for dollars I would suggest the app Deal Machine. This app allows you to skip trace a property and send a post card to the last know owner on records. You can also skip trace their phone numbers as well. It all cost a fee to do this, but this is a cheaper method than using a bigger service. 

I pay about $1000 a month for multiple platforms total to find owners info and send them text messages and emails. But deal machine is great for starting out and on a budget until you get some deals under your belt. 

Hi Brandon. This is one of the most debated topics I have seen asked on multiple forums. So what you posted as your reasoning behind the LLC is great, and does work out for investors. I myself have set up LLCs like this as well, but it always boils down to personal preference as well.

So I have set up a "Parent" LLC which is for my real estate investing business; to do transactions for flipping, wholesale deals and for my commissions as a Real Estate sales agent. With the "Parent" LLC, I can then have "child" LLCs that will have the same operating agreement (husband and wife) as my "Parent" so that I can keep my buy and hold in the "child" LLCs. Also when I do future deals with other investors my "Parent" LLC name will be used as member of that future joint venture.

Now having it set up like this does cost money to set up and of course yearly fees. So be prepared for this as well. 

So if you are starting out you can go with one until you start making some money to create more. IMO I thing as long as you treat it as a business you will be fine. 

Joe, House hacking a great idea as long as your family is on board with that choice as well. If they are then it is a sure fire way to get started and a way to live rent free for sure! Which then you can actually accelerate your cash saved by putting what you would be paying for rent aside. So when that 1 year comes up, you will have cash ready for possibly another down payment for another rental property.