All Forum Posts by: Robert Adams

From my knowledge it is very hard to get out of signing personal guarantees on commercial deals that large. I could be wrong though.

It depends on the market you are in. In Vegas it is very easy to rent these types of units if the property is priced right and marketed properly.

LLC protections vary per state. I recommend you find a local expert and have them help you construct a solid plan.

You definitely need to make sure you are protected and risking all that you have worked for.

If you were in Vegas I could be a little more helpful.

Welcome to BP!

This is a great site for investors whether seasoned or beginner.

Ask questions and read, read, read.

If you have any question about the Las Vegas/Henderson market I would be happy to help.

Take care and hope to hear from you more!

@j scott
Thanks for the response. Keep the updates coming this in a great thread.

just curious what made you guys choose that market over others?

Sounds like your project is coming along nicely. What date do you estimate you will be completely built and ready for listing?

Also, stay away from the get rich infomercials and seminars. Find an expert in the area you want to invest in and get in with them. Read a lot and participate on as many forums as you can. Knowledge is power.

Sounds like a great rate and a chance to get in while the prices are still low. I am not too familiar with the Colorado market but in Las Vegas you can pick up some good rentals for $40k and generate cash flow monthly. I would save the reserves up for the payments on the loan.

I would like to also add that there is no specific time frame for short sales. The time frames are all over the place and some banks are harder than others to deal with.

I would recommend using a CPA with former IRS experience. My 2 cents.