All Forum Posts by: Rashad Nelson

Hey Toan, 

I do both - LLC and an umbrella policy (at least $5 million). It would really depend on how expensive the state's annual cost is. In MD, it's $300 a year, so I use one LLC for a batch of 5 rental properties. I plan to start another after my latest project. In GA, it's $50 a year, so I could potentially dedicate one LLC for a single rental property, but I'm just doing flips in GA.

CA is tough, it's just so damn expensive. If for buy and holds, I would consider just using one LLC just for the benefits of having a business and get an umbrella policy to cover everything. Be sure to use a separate entity for flips (either a LLC or trust).

Please be sure to speak with your trusted CPA and attorney to get the official gist.  

I agree with the gentlemen in this post, leverage is the way to go.  I would also like to add the suggestion of perhaps initially procuring (3) rentals instead of (5), and using your remaining capital for flips to strengthen your cash position.  A lot of investors use the "flip-flip-buy and hold" strategy to steadily grow their portfolio.  It's quite effective.  Good luck man.

Hey Matt, 

Great question. Just my two cents - I would write checks directly from the LLC. Having no middle man to deal with places you in a superior advantage when procuring deals from wholesalers, owners, etc.

I'm currently buying properties with my IRA, but there's a limit to how many times I can do it within a year without incurring the wrath of Uncle Sam, and my IRA custodian is my middle man. I hope to be in your position fairly soon. I hope this helps.

Welcome to BP Shanaya.  My family and I just moved down here to Georgia last fall from Baltimore, coincidentally in the Douglasville area as well.  I'm a big fan of networking with local investors.  Keep us posted on a meet-up if interested, :-).  

Hi all, 

I'm looking to close on a property fairly soon for a buy and flip scenario.  It's in the Carver Hills neighborhood of NW Atlanta. I'm currently on the look out for real estate agents who have experience listing properties in this area, preferably ones who have sold properties in this or surrounding neighborhoods. 

Contact me to discuss.  Thanks a million.

Yeah, meant to PM that info.  My bad, :-).  This is what happens when you're running around, :-).  Well, it'a not a state secres. Plenty of forum posts regarding them in a not so good way.  

Hey Chris,

New Western Acquisitions.  I wouldn't do business with them based on the feedback here.  I haven't done business with them, but why risk it.

I hope this helps.  

You got it Brennan.  I'll private message you that information.  Key words pop up when business names are mentioned in public forums, and company reps are always on standby to respond.  

Welcome @Brennan Boyd!  Bigger Pockets really is an awesome community to network and to get the true low down on business services and products offered to the investor community at large, especially those guru programs that seem to be everywhere you turn. Some have value, most are just peddling snake oil.

Because of the feedback I found here on BP forums, I hired an awesome window / guard service based out of Chicago to protect a property under renovation and I avoided altogether a national wholesaler business here in Atlanta.  BP is really a great resource for any investor.  Best of luck to you in your investing!

Thanks Mark, it's greatly appreciated.  Those podcasts are awesome, :-).