All Forum Posts by: Stacy Jackson

Thanks, Chris and Judah. Great insight

No doubt you're correct, Judah, in the stupid = sued formula. :)

Thanks again, guys, for your responses. Have a wonderful evening!

Is it lawful in Texas to own more than ten different homes in an individual's name? Must the homes be transferred into the ownership of a company-like entity? Thanks for your help.

@Andy Collins

Thank you so much for your input. Very enlightening. I never thought of it they way you presented it. Makes great sense! Truly grateful for your wisdom. By the way, being from Dallas, can you recommend a good REI group or organization to explore or join to begin meeting and making friends in the industry? Thanks!

@Mary B.

Thank you. I like your thoughts.

@Steven Hamilton II

Thanks for the idea. I'll have to explore this option. That side of things is so new to me - I've a lot to learn there. Thanks again. Have a great day.

@Jon Holdman

Thank you for your input. Very informative and certainly much to chew on. In your opinion, does one attempt to begin as a sole-proprietor, so to speak, until enough equity and assets are built to then transfer and operate under an LLC? Exposing personal assets until such time occurs - definitely not the optimal route.

@Trevor Lohman

Nothing ridiculous about your inquiry. If so, I'm as ridiculous as they come :) I appreciate your thoughts on this matter. Wasn't aware of the "give me all my money now" scenario, assuming it holds true. I'm certainly looking forward to hearing more from Andy and others on this topic. Should you happen to learn more from another source, I'd appreciate you monitoring this thread and share what you learn. Thanks again!

@Andy Collins my initial thought is to begin with SFR and perhaps graduate to MF, unless I could find the right deal to give me immediate entry into MF. My current strategy is to buy and hold for long-term residual income to augment retirement, or perhaps become a full-time investor much sooner - should I progress quickly enough. Thank you for your help!

Hi JJ. Welcome to BP. Good to see you make a greater commitment. I understand your situation as I am currently walking the same path - it sounds. Being in the Dallas area, I personally don't know of any Chicago connections. However, this site is a huge resource and I know there are those in your area who can provide you with great information. Good luck networking and investing!

I'm new to the personal investing side of real estate. I assume without question, the smart answer is to establish a legal entity in which to buy property to afford a level of protection. What are the primary options for legal entities, their pros and cons, and approximately how much should I allow for such an expense (attorney, filing costs, etc.)? Thanks All!!!

Welcome to BP, Lee. I'm new to BP myself, and I'm not too far from you. Just north of McKinney in Melissa. Glad to see you on here. Let me know if I can be of help to you in your investing. Send me a colleague request (or I'll send you one). Best of Luck to you!