All Forum Posts by: Tiffani T.

Thank you everyone for the advice and networks. It sounds like I may need to make a weekend trip to WI to assess the neighborhood.  

Hello BP,

I am ready to move onto my next investment project and am searching for a rental home in the Milwauke area.  Can anyone here pinpoint to which area (s) in Milwaukee seem to be lucrative for investors?  Thanks.

TT

Hi,

I am looking at some info on home purchasing in Ko Samui as a U.S. Foreigner.  How are the RE rules and regulations diff from U.S.?  Considering if it will be a cash purchase..

Any info would help and thanks in advance.

Tiffani 

Originally posted by @Matthew McNeil:

I've put each of my properties into separate LLCs and I'm very careful to make sure each one operates entirely autonomous and independent from each other (and from me personally) in order to follow the "rules" by which LLC are designed to operate.

However, you're getting different feedback from various BP members. 

I'd suggest this idea; hypothesize a worse case scenario and walk it backwards to the final question - did you take every option available to insulate yourself? How exposed are you (overall) to any liability? In other words, if you faced a lawsuit whereby an attorney is looking at all of your properties and your personal house would you look back and realize at that time you should have put the property (where someone got hurt) into an LLC?

I already have a homeowners policy which includes personal/physical bodily protection. I think I have those insulation in place. But with more than properties in place, I just like “extra” cushion in case the worst scenarios come upon. Tiffani

Caleb, thank you. This helps..

Hi Mike Thank you! But aside from applying it through the state where the property resides in, what other steps do I need? I looked on the WA DOR and it looks like it only costs less than $200 as well for me to set up an LLC. Tiffani

Originally posted by @Krishna Chava:

I use nolo for setting up new LLCs. I wouldn't bother with LLC for 2 properties. If you are getting conventional mortgage, you probably need to buy in your name anyway as they don't make loans to LLCs. You can later transfer these properties title to LLCs, there are some issues there, it's better to look at those issues at that time.

Krishna,  thank you for your advice.  But what is nolo?  

I am fairly new with REI and could use some suggestions and/or advice from those who have had exposure to setting an LLC for your rental properties. I am undergoing the process of purchasing my 3rd home and the thought of setting up an LLC came to mind. An agent also recommended that I must have one. How do I set this up? Or should I even attempt since I will only have 2 rental properties, not 10 (not yet). I understand at some point I will need to widen this discussion with a CPA for tax implications and etc.

 And how?  

Tiffani

Thank you for your feedback.  After reviewing some details on here, I think I will be better off purchasing rental properties somewhere locally where I can oversee them versus Roofstock.

Tiffani