All Forum Posts by: Ryan Den Otter

Are there FHA regulations that keep you from house-hacking with an FHA loan?

@Joe Kim Right. The asset that I am trying to protect by adding the property to an LLC is my own personal assets. If the tenant slips on ice on the front sidewalk on a property owned by me, and decides to sue me, he can go after my personal assets. Putting the rental property into an LLC will help mitigate the plaintiff's ability to go after my personal assets.

Now, based on what a couple of you have mentioned, it isn't possible to get an FHA loan if the property is not in my name. So, it may not be doable in this case, and good insurance is the solution. But, I think, in practice, it is good to protect your own personal assets by putting rental properties into LLCs or other such corporations. I have heard that it is better to 'own' nothing and control everything.

Sounds like great advice, @Ibrahim Hughes Thanks! I will have to look around a bunch to find a good CPA and attorney here in Denver. I am very used to getting the 'It's too risky!' and 'You would be crazy to invest in real estate' run-around from attorneys. 

@Jeff Rabinowitz Thanks for the response! Isn't it a taxable event to transfer ownership of a property? My concern is: If I don't set up the LLC at the time of the purchase, and have the LLC purchase the property, I will incur taxes when I try to do so for that property later.

My passion lies in rental properties. I have been looking at doing rentals for years, and today I have decided that it is time to cut all of the dreaming and hoping and wishing, and get started. But, I am not sure how to get started. There seems to be a plethora of things to do, and no clear winner for priority.

My wife and I have been renting for a while, and we are hoping to start off by 'House Hacking' (Buying a split-level, and renting one level while living in the other) as we can't afford to buy a property solely for investment (minimum down payment is 25%). I really want to do this right, and make sure that I am not setting myself up for a headache in the future. One of the things that I am concerned about is liability. I want to mitigate liability, and I believe an LLC corporation is the way to go. Do any of you have a template for the Operating Agreement specifically set up for holding and managing real estate?

Also, any 'gotchas' or things that you wished you had known when you got started would be greatly appreciated!

Thanks Bill, Elizabeth, and Dave for the welcomes! I am really excited to learn!

Thanks for the welcome, Andrew!

I am primarily interested in rental properties, primarily for cashflow. Like I mentioned previously, I want to build a strong, passive income, and I also like the idea of providing nice, well managed homes where people will enjoy living. Having been a renter for a long time, I am fully aware of how much of a negative impact a poorly managed rental has on a tenant.

Hello all!

My name is Ryan den Otter. I am a young, aspiring entrepreneur looking to get into real estate! I have limited experience in real estate investment, though I have learned a few things through my own research, and some courses that I have attended in the past few years. My background is in computer software development, and I currently work for a computer software development company.

My goals are to create a passive income for myself and my wife to ensure financial stability in the future. And I can't think of a better way to do it than through the fascinating world of real estate! I am really looking to learn, and 'rub shoulders' with others who have more experience than I do to change real estate investing from a dream into a reality.

Currently, I do not own any real estate, but I am hoping to change that in the very near future! I would appreciate any guidance and tips that you may have!

Thanks for reading!