All Forum Posts by: Rob Gorham

Hi. I'm looking for a good FHA 203k loan specialist in the DC area. Any recommendations?

I'd also like recommendations for experienced General Contractors in the DC area who have dealt with 203k financing.

If I structure my LLC in DC, will I be authorized to do business in Maryland or Virginia without having to establish an additional LLC or partnership within those states?

Hey I am looking to start an LLC in the DC, MD, VA area.

What are some of the things or clauses that I should implement or ensure, are in my operating agreement for the best asset protection?

Ned Carey well that's exact my reason, to live in one and rent the others. Also to build a passive income portfolio.

Thanks! Russell Brazil

Russell Brazil being that multi-units are in short supply, would it be wiser to buy a single with a basement that I can convert into a separate unit?

Russell Brazil I've noticed a lot of that living in the city especially since I've started looking. But what exactly is a condo conversion? Is that simply selling each unit independently or is it more to it?

To LLC or to not LLC, that is the question..... Well at least for newbies. I've been doing a ton of research, like I am sure every beginner has, about real estate investing and one of the key decisions that has me hesitant to buy my first property is whether or not I need to incorporate an LLC first or buy a property in my own name. I know an LLC is absolutely necessary for asset protection, but beginners like myself, may not have any assets. Also would it be worth having a lawyer set up my LLC or should I do it myself? I've done some searching of lawyers in my area and have seen prices from $1,000-$5k just to set up a single LLC. I've seen strategies where the parent LLC is set up in Nevada and another LLC is used in state. This can get very pricey for a newbie, not to mention the cost of setting up trust. I am just wondering if thats an expense I should incur upfront or would I be putting the cart before the horse? That money could be used towards my first deal.

Hello, I'm Rob. I am interested in getting started with real estate investing. I want to invest in Multi-units (2-4 units to start out) in the DC Metropolitan and Baltimore city area.