All Forum Posts by: Thomas Paine

Hello All,

Thank you in advance for sharing your thoughts and expertise on the matter.

We have a family Cabin we currently rent out on VRBO in Northern WI. 

My Parents are deeding the Cabin to the three sons. 

Each Son is in a different place in their life and has different views on what to ultimately do with the cabin.

Options include:

• Start an LLC (Out of State) Like Maryland or Florida with no income tax
  
  • This would enable purchase of more vacation rentals in the area to be managed similarly
• Build additional properties on the land and expand + Rent out.
• Make the cabin available year round during Northern Wi which would require maintenance and updating.(Should Happen Anyways.)
• Create LLC with three sons in it and start a separate management company to handle all the cleaning, renting, promoting, maintenance of the property.

*** Open to other Ideas, 

Large Piece of Property with great potential nice 4 bedrooms 2 bath Cabin worth about 350K on a spring fed sand bottom (no weeds) Lake 

Thanks,

Thomas  

 Hi Ryan, I'm in the Minneapolis Market could we connect about these pocket listings?

Hello All,

Just closed my first contract for deed with a relative on a duplex in uptown. Have some money left over for a downpayment looking to strike before the paperwork is processed at Hennepin County and secure some funds for a place to live near or in Down Town Minneapolis. 

Looking forward to connecting.

Respectfully,

Thomas Paine