All Forum Posts by: Account Closed

WOW congrats on buying your First DUPLEX that his Awesome!!! Congrats. 

Well in terms of Holding or Selling \\\ where it it located? how much equity do you have in the Duplex? how many tenants does it hold? what are you going to charge for rent? Etc... 

Hey Jida, 

So happy your apart of the community. Yes its vary important to introduce your self to the community. the more you post and comment on peoples discussions the more promotion for yourself plus education your going to get threw the site. 

-Paul

i would recommend using a LLC [ and ] a S corporation.

A limited liability company must file articles of organization with the state, it has a more flexible management structure than a corporation. The flexibility evolves from the phrase “unless otherwise provided for in the operating agreement.” This allows business owners to create a structure tailored to the business owner’s requirements.

The biggest advantage of using a S corporation is that the company is taxed as a pass-through entity, which means it avoids double taxation on gains. The company's gains and losses skip taxation at the corporate level and get reported directly on each shareholder's income tax return. For example, if you own 10 percent of an S corporation, and the company makes $1 million, you report $100,000 of income on your personal tax return. This also allows you to use company losses to offset other sources of income.

www.rentometer.com

Rent O Meter. Always a Great tool help get some Rent COMP estimates in your prospect investing area.

 http://www.city-data.com/

City Data. Vary helpful when trying to get demographic information, statistics, Income levels, ect... to help educate yourself with the kinds people in the area.

http://www.schooldigger.com/

School Digger - Always save the best for last. We all know one of the biggest factors affecting property values is school zones. School Digger helps you analyze the property by evaluating the school zone that the property is in. It is very helpful.

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Add Your Links Too.

-Paul (ATL)

Happy your hear. Defiantly utilize the search tool in the up right to help you with any questions about RE that your trying to get answered. @tiffanyplovie is right start listening to the podcasts as well. Their So informative and helpful. Good Luck @rodneyGresham 

is Plus worth it or just go for Pro?

DO you have hi number? if so hit him up and ask him what his plans are for the property? He's he says "O Yaa i should probably get read of that old thing," then tell him you'll sell it for him and put it under contract and then you'll have your allotted amount of time to sell the property for a mark up about 2K - 4K. 

The first step is jumping in. One of the easiest and simplest ways to start is networking and you can start doing that at a local REIA (Real Estate Investors Association) in your local area. Just google [ Local REIA and your ZipCode 30022 ]

What i do is gather at min 3 comps no later then 6 mo's back that don't cross over any major roads like high ways, and use a 1/2 mile radios. 

Welcome to BP - If your ever looking for some help in the ATL market let me know.

-Paul