All Forum Posts by: Ron K.

Hi,

I've read all the for/against setting up LLCs, and I decided, I want to setup LLCs. I had a free consultation, and the firm wanted $2K per LLC, for each LLC. (I asked for a ballpark cost for my asset protection package). This includes of course consultation, etc.

Can anyone recommend a Florida firm that will setup asset protection (properly !) at a reasonable cost?

I don't want to do this myself, or with a non-expert lawyer, and end up with a worthless LLC. On the other hand, I would think I could this for under $5K.

Any recommendations?

Thanks,

Ron

Just wondering at what rent point would you not consider something low income in a multi unit? $600? 800? Wondering what the best price point is to get better quality tenants yet still the higher CAP rates of lower price properties.

Wow, there's a world of difference between duplex/triplex and going for construction. Certainly much simpler to start with an already existing and cash flowing 2-4 unit, where you just have to keep it going, and maybe make small improvements to increase rents. Also, up to 4 units you can get a residential loan.

I suggest you search the site, and you'll this type of question answered quite well.

Good luck,

Ron

Hi,

I see sometimes on Loopnet, packages of condos/units within a complex for sale.

First, If I buy a package of 6 condos/units, can I sell them any way I want, for example, in units of 2?

2nd, if Loopnet says "condos" does that mean I can sell each one on its own to a home buyer (not an investor)?

Do people like this kind of investment?  On the one hand, you have less control, but on the other you get nicer amenities and perhaps better management.

Thanks,

Ron

Thanks all. Actually, I'm referring to apartments, but all the above advise is very useful even if it was referring to houses.

I had read that 1 bedroom units have higher turnover, so I'm looking at at least 2/1s.

That is a good question. Actually, I'm from overseas, but my zipcode placed me in OK. I do have an investment property in OK, but I felt I was too "all over the place" and decided to try and concentrate in one area. Seems I can get 10-12% CAP rates in central FL, and I have a agent/broker there, and I'd rather try and a "team" in one place.

thanks,

Ron

2-4, as well as my first commercial 5+.

Hi,

I'm finding that 2/1 units seem to have better CAP rates that "nicer" places with 2/2s or 3/2s. Do you think demand for lower end properties (2/1s) will decrease over time, or be just fine.

thanks,

Regarding 'working with a number of agents'. I was wondering how I could do that. Currently I'm working one agent, but I'm looking a town a bit out of their area, and I thought of getting someone more local. I'd have to tell the people I'm working with that in the other area, I contacted another agent?

I would love to have one agent really go to bat for me, and know that I am loyal, I'm just not that comfortable that they are the best source in that other location, and I want to look in a wider area.

Thoughts?

Thanks,

Ron

Hi all,

I've been investing is SFHs for a quite a few years. Starting now to try and get the cash flow going by going multifamily.

Thanks,

Ron