All Forum Posts by: Scott C.

Thanks for all the replies. This is some great information. I have been away from BP for a couple of days so its going to take me a little bit to digest all of this but I'm sure I will be back with some follow up questions. Thanks again!!!

Newbie question, what does PITI stand for?

Thanks,

Scott

I'm a buy and hold investor and I have a question about cash reserves. How much is enough?

We have 2 and soon to be 3 (closing on December 3) SFRs. One is rented now and the 2nd one should have a tenant in it soon.

Is there a good rule of thumb for how much cash reserves we should have? I want to have at least some cash reserves in case there is an emergency and I need money to fix it quick. I also want to know how much is enough so that I can use the remaining to make more deals.

Any help or guidance would be appreciated.

Thanks,

Scott

Welcome, Ryan!

As a new investor too, I can tell you this site is extremely valuable. Just jump in, do your first deal and continue to learn!

Good luck!

Right now I am staying out of the city and concentrating on Baltimore county. I have just heard that the regulations in the city and the taxes are ridiculous. My agent/mentor is trying to get rid of his properties in the city for just that reason.

Thanks for the welcome, Nicole.

Thanks, Ali.

I have been investing in real estate for the last six months. Now that we are about acquire our third property, I think its time to formally create a company to operate the business under. I am confused on the best way to go. My first thought was to open an LLC for the protection and ease of setup but doing a little research on the forum that may make it harder to get financing on future deals. Is that corrrect?

I have also thought of just doing a joint partnership company with my wife and I. We already have an umbrella policy in place for some protection from lawsuits and etc... but I want to make sure we are protected the best we can.

I'm real confused about the best way to go so any guidance from you long term pros out there would be greatly appreciated.

Thanks,

Scott

@QR Miller,

Thanks for the welcome!

@Mike Hsu,

Also thanks for the welcome. I have two Dundalk properties and one soon to close in Middle River.

I'm a real estate investor from the Baltimore area. Are there any REI clubs or meetups around Baltimore? I'm looking to network with other investors in the area.

Thanks,

Scott