All Forum Posts by: Pedro Chavarria

My wife and I recently purchase 2 rental properties in Florida and have been managing them ourselves, however, as we are thinking of moving to NYC we are looking to see how to either automate the process via property management platforms or getting an actual Property Manager. As we are getting more familiar with rentals we want to start purchasing more in the near future and want to move them more as passive investments since we both have "9-5" jobs for now.

2 questions:

1-Any recommendations on the different PM platforms and what would be the best for someone just starting? (looking at Caretaker & RentRedi from the BP site at the moment but not sure what else is out there)

2-Would it make more sense to look for a property manager now even though we only have a few units?

Thanks! 

We are looking to start an LLC and/or Estate Trust in order to move our investment home in Florida - does any know of a good legal advisor that can help us do this?

My wife and I are starting to get into Real Estate investment with our first rental property and now we are wondering when it's a good time to form an LLC in order to protect us. We both have some assets (current home, 401k, stocks) so we want to be sure we are protected and that it makes sense from a tax perspective and financial since the first rental so cashflow will be minimal.

We've talked to different people and some recommend just the Umbrella insurance, to begin with, while others recommend going LLC+Land trust from the beginning. We know we want to look into an umbrella but is that enough with the first few properties until they can make the money to cover the cost for the LLC? Or is it better to put the money in now and have all the protection?

My wife and I are starting to get into Real Estate investment with our first rental property and now we are wondering when it's a good time to form an LLC in order to protect us. We both have some assets (current home, 401k, stocks) so we want to be sure we are protected and that it makes sense from a tax perspective and financial since the first rental so cashflow will be minimal.

We've talked to different people and some recommend just the Umbrella insurance, to begin with, while others recommend going LLC+Land trust from the beginning. We know we want to look into an umbrella but is that enough with the first few properties until they can make the money to cover the cost for the LLC? Or is it better to put the money in now and have all the protection?