All Forum Posts by: Rocky R.

@Will Fraser  I am looking at stable rental markets (growing population etc), fully ready to occupy homes (i wont rehab) with a rental yield of around 0.9% atleast. 

Hi,

I started my investment journey few months ago and was able to buy couple rental properties.

I wanted some advice on which states/cities in US have newer homes (<10 year old built) which would mostly be priced under 200K? Any suggestions on place you would recommend for me to explore?

Any suggestions from your recent experience would greatly help.

Thanks!

Hi,

When I need to interview and engage a contractor for my house purchases which may need some work, should we be looking at specialist contractors for each of the stuff like Bathroom remodeling, roof, carpets etc or is it more like a single contractor that handles most work on the house?

Sorry for such a naive question, but reading online on contractors felt a bit overwhelming so reaching out to fellow BP investors for some guidance.

Thanks!

 

For most properties, Redfin/Zillow are always magically very close to the list price! I wonder how this could be true. Even for a 1.5 million home, the estimates only vary by couple hundred dollars only! 

Should I even look at these estimates in any meaningful way?

Thanks! 

Thanks for the replies. 

When we say "risk of not knowing market" what exactly do we mean. As an example, some home recently got listed --> https://www.redfin.com/MD/Baltimore/4052-Edgewood-St-21215/home/10907084 priced at $120K.

Rental estimate calculators give an estimate rent as $1350 which is >1%. 

As a newbie investor, homes like these seem like an "investable options". Am I missing anything large and listing like these can I go very wrong? 

Same goes to another random listing I was tracking but got sold out due to my inability to make decision --> https://www.redfin.com/MD/Baltimore/3701-Ferndale-Ave-21207/home/11214982 (Is a listing like this something I could have considered?)

I thought citing couple of examples I tracked might help me learn better. Any comments from Baltimore experts would really help me. (Note: I just pulled 2 example but there are multiple of properties like these listed on MLS in Baltimore area.) Am I even looking in the right direction? :)

Hi All,

Any of you actively investing in Baltimore? Would you recommend Baltimore for a long term Buy and Hold Real Estate? Any suggestions and tips to watch out for will be hugely useful to me.

Thanks!

Hi All,

I recently came across nexus group (https://www.nexusgroupllc.us/) who are advertising FREE LLC creation help. I am not sure why any business does this for free but I am not sure what the catch is :)

If any of you had experience with them in the past and/or had any feedback please share.

Thanks!

Hi @ALL,

People who have been dealing with attorneys, could you please indicate if these prices quoted above seem reasonable? I am thinking to get moving on this soon. 

Appreciate your help.

Thanks!

@Sean Morrison Thanks for your reply. 

I currently have 1 single rental property out of state. And my intention is to go up at least to 5 properties in the next 6-8 months in various state. 

I consulted to understand the strategy. But the fees surprised me, so I was not sure if these are reasonable. For example $1500 to create a LLC, I didn't have a baseline if this is the norm.

Hi,

Today I spoke to one of the Attorney/portfolio company which offered a free consultation to talk to me about LLC strategy and ofcourse understandably also as a sales call to get me as their client.

Basic Structure --> They suggested a "anonymous" base Wyoming LLC and state specific discarded entity LLCs holding properties. Move any property into a "land trust" and then deed the property into it and move into LLC.

But some of the charges they quoted surprised me (as a first time investor :)). Posting here to get some guidance on what the acceptable attorney charges are. The following were their charges.

1. One time $2500 to become their higher tier member of their group (will get access to attorneys, consultants, Tax help etc its a whole bunch of access one will get including adhoc questions on need basis). 

2. From then on a monthly $35 fees to keep the membership active (eternally)

3. Their cost to create a LLC is $1500 (apart from actual state fees)

4. Their cost to create a Land Trust was $600. An additional $450 for deeding my property into the trust. (apart from state charges and fees)

Are these charges in the right ballpark? Any tips?

Thanks!