All Forum Posts by: Ryan Burlison

Welcome Ryan, 

Shoot me a facebook friend request, Teague Greer, and ill invite you to Brad Wooddall's Cherokee Real Estate Freedom. 

It typically meets up the second Tuesday of each month at the same complex the canton reformation brewery is in, I think it's called the mill. 

Hey @Ryan Burlison I 2nd Cherokee Real Estate Freedom, it is in Canton not Woodstock, but it is a good group. A few other Atlanta groups, but unsure of any others specifically in Woodstock. I have 10 rentals in Atlanta Metro. Also a Brokerage that specializes in Sales and Property Management. Happy to connect. 

Hello everyone, Newbie here in BP.  Single family investor just moved from South Florida to Woodstock.  New to the area and looking to build a new network. See you guys there!

You see half of the story for asset protection; look into charging orders.  What happens to your investment if you cause a car accident going to the movies this weekend and end up with a judgement?  

An LLC is likely a good tool, but how effective it is and how to use it depends on you. Like any tool, you need to know how to use it. You can drive a nail into a board with a wrench, but knowing that a hammer is a better tool and then understanding the techniques on how to use a hammer is important too.  Currently, you have a hammer but need to learn how to use it.  How many times do you hit your fingers with the hammer or bend the nail before you ask a carpenter for advice?

I'm sure you have heard it's popular to create LLC's in Nevada, and Delaware. That is because how the LLC works and the level of protection it offers is dictated by State law.

If you were in Nevada, I could generally tell you about my experience, but it appears you are in Georgia. LLC's and how they work and how much protection they offer varies from state to state. There are some commonalities from state to state, such as not co-mingling funds, but if you end up in court, the devil is in the details of the Georgia statutes.  You have read and understand those statutes, right?  Me neither…

Please find a good asset protection attorney in your state. Ask your CPA, title officer, closing attorney, doctor, dentist, or another trusted professional for a recommendation. Setting up the LLC and learning how to use it is probably a set fee.

At then end of the day, it's a risk assessment judgement for your situation. It will cost time and treasure to get things setup correctly. Hopefully, even likely, you will NEVER need the LLC because you will not get sued and loose. But, if you do lose a lawsuit, what happens?

It’s not necessarily a waste of time, but you’ve got to be prepared to be the end buyer and perform once something is accepted.  If you ask him / her to write 1000 offers and 1 is accepted and you back out over being spooked by inspections, then, yeah it’s a waste of time.  If you’ve discovered 2 deals you would pull a trigger on, but only 1 gets accepted, then, ok, it’s just business.  Things to consider if valuing this agent:  Writing offers sight unseen and not asking for showings everywhere will save that person a lot of time.  

In this market, buyers do have more power than a year or two ago…sellers are motivated….so in my opinion if you have an open mindset and do value this agent there is a way to find the win win here.