All Forum Posts by: Shawn Ziegaus

@Tyler Gibson

Thankyou for your detailed response. I really appreciate the input. Perhaps it would help if I included why I am asking this question.

I had a mentor ( not Realestate mentor) tell me that I shouldn’t get into rentals due to the unpredictability of the tenants and given my current financial situation he expressed concern about me not being able to cover and unforeseen expenses upfront due to my limited amount of capital available to invest. I am not currently deterred from rentals just more of looking for an answer to the expressed concerns.

This question is a pretty vague one so please feel free to ask more questions if there is any confusion on what I’m asking. But I am looking to get into rental properties and am curious what do you do if you have very little capital and a problem arises with the rental. Say a tenet has vacated the property and completely trashed it. What do you do if you are new to being a land lord and you don’t have enough money to cover the repairs?

I know that this wouldn’t be an issue after some time of renting due to setting aside a portion of your profit to deal with these expenses. I am just referring to the situations where this is not the case and that money is not available at the current time.

Any input is greatly appreciated Thankyou.

@Charles Carillo

Thankyou for your response Charles. However I do have a another question how do you locate REIA in your area?

So I hope this isn’t a weird question or a bad one. However I was curious are there times of year where someone looking to get a loan has a better chance of getting approved or is this just an urban myth. Any input is appreciated Thankyou:)

I have been looking to get involved within the real estate community in my area but have yet to have too much luck getting in contact with mentors or other real estate groups in my area. Does anyone have any recommendations on ways to find or reach out to groups or investors to learn from and build relationships with? Any input would be greatly appreciated. Thankyou :)

@Nicholas DiPasquale

I will definitely sit down with a CPA to decide more. But thank you for taking the time to respond. My question on this however is if I buy a property under myself can I then transfer the asset to a corporation? If so how easy is that process and how does it work ?

@Jim Pellerin

For starters Thankyou for taking the time to respond. Can you still purchase a with a FHA loan or use a conventional loan and obtain the property as a primary resident, if you are buying it as a corporation?

@Dave DeMarinis

What kind of answering services are there? Do you have any examples or recommendations?

@Rob Drum

So if my goal is to scale up quickly the better option would be todo what your saying here and use a PM ( a good PM )? Right ?

Or would a good option be possibly self manage the first property or unit. Then throughout that process learn some of the inns and outs yourself. On the next property, is when the PM can start to be implemented?

Thankyou for your response btw. It’s greatly appreciated.

Thankyou for taking the time to read this post. I am new to REI and am looking to purchase my first property ( a multiplex that I plan to house hack ). I am curious as to which way of purchasing the property would be considered the better. Should it be purchased under a corporation/ LLC ? Or should it be purchased underneath myself as an individual ? Any feedback is greatly appreciated.