All Forum Posts by: Robb R.

@Joseph B. Davisson Very informative and helpful post, thank you!

@Account Closed thanks for the reply. Much appreciated.

@Percy N. Thanks for the reply. I haven't found much ambiguity on purchase agreements made by the series. I've heard differing opinions on how best to do business after that. So, I'm interested to hear about what's worked best for others.

Hi all,

For a series LLC, where each property is titled in a separate series, what is the best practice in your opinion for contractual obligations of those series? For example, if one series contains one rental unit, the choice could be for the main LLC to be named on the lease with the tenant, or for that unique series to be named.

E.g.

ABC Properties, LLC

- ABC Properties, LLC - Series A (contains property 1)

- ABC Properties, LLC - Series B (contains property 2)

- ABC Properties, LLC - Series C (contains property 3)

For property 1, would you execute the lease with the tenant as "ABC Houses, LLC", or "ABC Houses, LLC - Series A"?

I've heard conflicting advice on this, and I'm unclear on the implications, especially to asset protection. Another recommendation I heard was to create an additional series with no assets to sign all agreements. Thanks for sharing any experience.

Personally, I wouldn't buy with negative cash flow hoping that it improves. You don't know what the future will hold.

One thing: your property management fee assumption of 3% is very low, unless you have some kind of special arrangement (and you assume that arrangement remains true for 30 years). The real number can be closer to 12%, when you account for the monthly fee of 8 to 10 percent, plus the turnover leasing fee of one half to one month's rent.

@Karla Talancon For a a great CPA and referral to appropriate attorneys see http://www.mangoldcpa.com/

Welcome!

Unfortunately, it looks like Buildium is up to $60/month now. Any new alternatives?

The online plus version includes class tracking. The fixed asset features are not available online.

For others that may be looking, I can make a very strong recommendation for Thomas Mangold and his company. They have taken great care of me for several years, helped me launch my REI business, and Thomas is a real estate investor himself. http://www.mangoldcpa.com/