All Forum Posts by: Scott Morongell

@Joshua Juoni congrats on joining the BP community. I'm sure you will learn a lot on here. My words of encouragement are learn a little about each type of investing and figure out what you like most and focus on it! 

my pleasure @Todd Powell

@Rob Beaumont congrats on joining the BP community. I would first learn the different types of RE investing. Fix & Flip, Buy & Hold, Wholesale, etc. From there you will be able to see what you like or makes the best sense to you. After that you can look at types of RE, commercial, single family, multifamily, mobile home parks, storage, etc. This will give you a better idea and then just focus on one area of RE. 

@Todd Powell My belief is that real estate is super local. As long as your buying in the right spots you can weather a storm if the market does soften and even raise rents in certain situations. I am talking in terms of the multifamily family space, 100+ unit complexes. For a very insightful overview of what the market is doing and why cap rates are compressing even when interest rates are going up, I would listen to @Gino Barbaro podcast "wheelbarrow profits" with Neil Bawa. The title of it is Multifamily Market Trends. 

@Jared F. as a syndicator myself we have had investor both personally invest and use an LLC. I am not an account or know your personal goals with investing. If you plan do to a lot of passive investments my opinion is to set up Jared F. Investing, LLC and run everything through it. It is a lot cleaner and could help your account when it comes to filing taxes.

I also agree with @Greg Scott, talking to your lawyer will give you a better insight and direction to go. 

Happy investing and would love to know which direction you decided to go.

@Justin Ethridge if you love wholesaling  I would find a guy/group nearby that is doing it and work for them or offer to help. Learning from first hand experience is the best way in my opinion. 

@Joe Cusick Depending on how big these properties are you have a number of options. 

Run everything through you 1 LLC.

Set up a new LLC.

Put 2-3 properties per LLC.

Hold everything in your own name.

I am not offering legal advice, just telling you what I have seen others do. Ultimately you want to minimize risk. I have seen guys typically put 2 or 3 assets in 1 LLC. If you have everything in 1 LLV and something happens to 1 of those assets everything is then exposed. Ultimately it depends how much risk you ant to leave on the table.

@Jacob Walls congrats on joining the BP community. My recommendation is to figure out which sector of RE is most attractive to you and stick with it. Don't fall into chasing the shiny object like so many do. It will kill your focus and chances of being successful. Bet of luck! 

If the numbers add up for you and your investors than buy now. 

@Jessie Redd congrats on joining!