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All Forum Posts by: Rob Gorham

Rob Gorham has started 5 posts and replied 9 times.

Post: 203K Loan Washington, DC

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4

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.

Post: DC (The state w/o Statehood)

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4

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?

Post: Structuring An Operating Agreement

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4

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?

Post: New Member from D.C.

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4
Ned Carey well that's exact my reason, to live in one and rent the others. Also to build a passive income portfolio.

Post: New Member from D.C.

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4
Thanks! Russell Brazil

Post: New Member from D.C.

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4
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?

Post: New Member from D.C.

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4
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?

Post: When Should a beginner incorporate?

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4

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.

Post: New Member from D.C.

Rob GorhamPosted
  • Washington, DC
  • Posts 9
  • Votes 4

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.