All Forum Posts by: Patrick C. Bellamy

Congrats on the project!  That's awesome to see. 

Welcome, Hansen! 

I'm pretty new to BP, but not Atlanta.  There are definitely areas to be focusing on ITP and others that you need to avoid.  One of the awesome aspects of Atlanta is that there is a niche for any person living ITP.  Some of these areas can be an awesome place to live and/or invest in, but just down the street can be...not so much.  I suggest doing your due diligence in these areas regarding reported crime, commercial zoning, and rated school districts.  Those can make all the difference sometimes.  

Feel free to reach out with any other questions, and best of luck! 

Thanks, Drew for sharing that.  If I was using a PM and they were really making my life easy with rentals I would definitely want to share their service.  Good services that are widely adopted help set industry standards and create competition for larger well-established PM.  

BP Real Estate episode 481 talks about the core 4 and I think one of them was on PMs and screening.  If you haven't already, give that one a listen.  

@Vicky Liu, 
  I live in Atlanta and in the same boat regarding looking to purchase my first rental.  Let's connect.  There are definitely neighborhoods to look into and others to stay out of.   

Looking forward to it! 

Hey, so I'm very green here and this is actually going to be my first official post of many more to surely come!

My question is I've been hearing that it's beneficial to form a LLC in another state that offers better incentives (lower setup fees, lower taxes, faster legal turnaround issues, more experienced business-oriented judiciary system) than say your home state. Then apply as a foreign entity in your home state. Would that be worth doing or just K.I.S.S.? And if so to either, why?

I'm looking to file my LLC in Delware, then do Single Family houses, and multi-family (du-,tri-, quads) in Atlanta and possibly throughout Georgia to begin with.  

Thanks,

Hey Andrew, 
I gave what you wrote some consideration about Real Estate bringing you happiness, and I wanted to add some thoughts. I am very new to RE investing and I do feel like REI, although not appearing easy by any means, is realistically obtainable to all. You can set a goal and accomplish it one day. Then quickly turn around and set the next goal and work towards that the very next day if you so choose. There are no limits. There are most certainly unexpected surprises (good and bad) that will force us to grow along the way. You can choose to run up this mountain, walk, crawl, or stop at any given time. We can break it down step by step all while seeing people accomplish goals far beyond what we may think are possible for ourselves at this time.
 

Thinking about this makes me excited. I'm excited at the possibility of the hope it can provide; a means to what we would consider makes us happier individuals. I feel like the hope of accomplishments over the long time frame and even day-to-day provide us with little dopamine dumps encouraging us along the way. I have yet to close my first deal, but every day I run numbers on new properties I see to test if it would be a good ROI. It is LITERALLY plugging in numbers to see if it will work or how I can make it work. It sounds incredibly boring yet I ABSOLUTELY love it and I have no idea why other than what the possibilities it might bring. As simple as that might sound, so far that makes me happy.