All Forum Posts by: Olga Zelenko

@Philip Klinck Thank you Philip!

Just to make sure I understand, do you recommend that the LLC will be created in California and the trust where I do business, like Ohio?

@Ashish Acharya Thank you Ashish for you advise!

Do you mean to open patent LLC in California and out of California LLC's to be under the parent?

@Tien James

Thanks Tien!

I'm strongly recommend you to check out the franchise tax for your business.

BTW, my market is OH as well.

@Patrick J. Thanks!

Interesting insight 👍

I just discovered that if I live in California and I have an LLC (in or out of state) I will be required to pay Franchise Tax in California (annually 800$) for each LLC.

My first plan was to create for each property its own LLC.

This discover is changing my plans (and my numbers of course 🙄 )

A few options that came to my mind to try to avoid this route:

1. Instead of creating an LLC, purchasing an Umbrella insurance for all the properties.

2. Create 1 LLC and sign a few properties under the same LLC (instead of paying 800$ for each LLC/property)

Are there other options that I didn't think of?

What are the pros/cons for the Umbrella insurance vs LLC?

Thanks for your wisdom in advance 🙌

Hi BP! I'm a new real estate investor and was wondering if champaign-urbana illinois is a good place to invest in for buy and hold? Main reason for selecting this location is job growth but I've been seeing contradictory information on the area and am not sure which is right. All other parameters looked good overall aside from job growth. Was wondering if it's landlord friendly also?

Does anyone have insights on this location? Would highly appreciate it!

@Will Gaston great article!

I'm curious how student towns was effected with COVID and virtual learning? Is student going back home?