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All Forum Posts by: Noah Jenks

Noah Jenks has started 2 posts and replied 5 times.

Post: Letter to a hoarder and squatter

Noah JenksPosted
  • Rental Property Investor
  • Posts 6
  • Votes 0

There are a few vacant properties I am looking at; one is filled with a hoarder's "treasures" and the other is a property that the owners have walked away from, occupied by squatters, and the bank is waiting out the clock to foreclose on it.  Both are structurally sound.  I have already gotten the owner's information from the county assessor's website, but I am unsure how to phrase a letter to these owners.  I want to be sure to include some sort of call to action rather than a generic "call me if you want to sell me your house for ridiculously cheap".

If you have done these types of deals in the past, I'd love your thoughts on how to phrase a letter and what actionable steps you gave the owner.  

Post: LLC, S-LLC, Corporation? Where to start?

Noah JenksPosted
  • Rental Property Investor
  • Posts 6
  • Votes 0

Thank you @Kim Tucker!  Yes, I will absolutely be talking with my CPA, it's nice to get advice from many avenues.  

Post: LLC, S-LLC, Corporation? Where to start?

Noah JenksPosted
  • Rental Property Investor
  • Posts 6
  • Votes 0

Interesting @Ned Carey, thank you for the help! I agree with owning them in my own name, not a route I want to go down. It may be easier to not set up an LLC now and do it later, but could potentially cause big issues down the road. Better to start with a solid foundation.

Post: LLC, S-LLC, Corporation? Where to start?

Noah JenksPosted
  • Rental Property Investor
  • Posts 6
  • Votes 0

Thank you Natalie, this is a huge help!

Post: LLC, S-LLC, Corporation? Where to start?

Noah JenksPosted
  • Rental Property Investor
  • Posts 6
  • Votes 0

I've bought and flipped 2 houses over the past few years and now I'm moving into rentals. I'm operating primarily out of the Texas foothill region but will be expanding to Kansas City in the next year. I know I need to open an LLC, or something along that vein, but would love any advice on whether to go with an LLC, S-LLC, corporation, S-Corp...something else? Any and all advice is welcome, thank you!