All Forum Posts by: Ronald Rohde

I wouldn't say lawn care specifically, it should be ok under property management company deductions.

 But I'd also add that it wouldn't prevent me from going under contract. Just have it as a big condition and adjust price after the inspection (or not).

I always suggest consulting with an attorney to create an LLC, it provides protection and anonymity which easily surpass the cost. Once you've met with an attorney and feel comfortable about the different elections and choices, you can form your own LLCs thereafter.

It all depends on how much risk you want to take. Will they sign a W9? Bank account statement is unlikely to be sufficient for IRS audits.

Invoice + signature of "paid" name, address, phone, etc.

Seems like good news!

I never understand why people think they "have no assets to protect" isn't the goal of this entire website to make money and build equity? Even if you grow one SFR, it will have equity in it that isn't protected under bankruptcy rules. I know CA has hefty annual fees, but everywhere else has very minimal annual costs.

 The above post is referring to accredited investors, there are some exemptions that will permit you to raise money from non-accredited investors. It is a tradeoff between registering the offering vs. not registering.

For your first LLC, I would pay an attorney. Note the questions he asks you about purpose, formation elections, and different agreements. For subsequent LLCs, you can probably file it yourself. If you change the purpose or have different investors, goals, property types etc. Consult the attorney :)

 Definitely true, but I think expecting legal liability from a PM is pretty low on the totem pole. Definitely suggest an attorney to review the Management Agreement though.

Thats a new area of town that only recently gotten hot. its quite far away from traditional cities. Most of the listings I see are by brokers, so FSBO is still catching up since they are slower to estimate value of their homes.

I would suggest driving the neighborhoods and looking for yard signs.