All Forum Posts by: Nathan Visser

Hi all!

I've been interested in purchasing a rental property within Orlando, Florida - probably either a single family home or a duplex. As I am from out of town I was hoping some people more familiar with Orlando could recommend some specific regions that are worth investigating. 

Thanks,

Nathan

@Samuel Sedore & @Roy N. & @Thomas S.

Thanks for the input everyone! I figured this would be the case, but was hoping if I 'started a company' and seeded it with some amount of money I might be able to create a buffer where I would put that initial money and my downpayment at risk, but not risk the potential for personal liabilities/ needing to claim personal bankruptcy. Or some similar loophole could limit the personal liability of my partner and I

I guess I will need another way to convince him that the benefits outweigh the risk!

Hi all,  

While continuing research into the investment of real estate income properties, I am becoming more excited about the opportunity of buy/hold investments. However as a newbie, and with high RE prices in my area (Ontario, Canada) I feel it is natural that I am worried about personal liabilities.

Although I understand there will always be risk involved, and am willing to expose myself to some risk in return for all that it offers, I was wondering what ways there are to hedge against personal liabilities.

More specifically, I am wondering if there is a corporate structure that I can set up, allowing me to distance myself from the mortgage, and at the worst-case-scenario of negative cashflow and a mortgage worth more than the property, have the ability to declare business bankruptcy rather than personal bankruptcy. 

In case it makes a difference: I am interested in investing in multi-family properties with a partner, using a Buy/Hold strategy.

Thanks for your help,

@Joe Doxsey

Great tip! I can use all the tips I can get at this point. Is "investment packs" a fairly universal term for this? (forgive my naïvety) I would get this from the agent I am dealing with?

@Joe Doxsey Thank you very much for the response. This is what I was kind of assuming. I'll look further into it and hopefully find a good deal!

Hi everyone,

New to everything, trying to secure my first deal, and after looking at the financials the property looks like a good cash-flow. 

The property is a newly renovated 3 story, 6-unit building and the numbers they have given me are

Annual revenue: 55,300 (including [potential] income from laundry [1,600])

Annual expenses: 15,300 

I know the 50% rule is just a general rule of thumb, but this seems unrealistic to me. Am I just being pessimistic and trying to find a reason not to do my first deal? or should I be somehow making sure these numbers are valid. I assume it's against the law to give out untrue numbers, but just wanted some feedback. 

Thanks in advance! 

Hey everyone, I'm new to BP so let me know if this post is out of place, but I'm looking to figure out pricing and possible locations for a small (approx. 400sqft) commercial 'warehouse' space in Buffalo, NY. As a Canadian, and fairly new to RE in general, I was wondering if anyone knows good listing sites or agents to contact to help me with this.

Thanks,