All Forum Posts by: Tim Bee

Don't worry about the LLC. Just get a 5mil umbrella policy and have all your properties covered. Tenants can still sue the LLC and take everything in the LLC.

If you are investing for long term buy and hold only invest where you will meet or beat the 1% rule.  Don't listen to anyone else on here who says that's not important.

Im in the medical field and have a very high stable income.  I also love real estate and read many books on it before I bought my first home.  The biggest education you will get in real estate is to actually buy a rental property and rent it out.  You don't need to be a realtor.  In many cases the biggest investors I know are not real estate agents.  

For Vegas long term rentals I haven't seen any that meet the 1% rule in a few years.

Detroit is the 5th most violent crime city in all the US.

Get a great property manager and it wont matter how far away the property is,

My favorite is Rich Dad, Poor Dad.  What is your favorite book for real estate investing or business in general?

Has anyone every actually experienced success by buying a tax lien cert?

 Call every 6 months and ask them to raise it.  Tell them you want to go as high as you can or maybe suggest a high number and see if they will honor it.  If your at 20k tell them you want 75k.  The worst they will do is maybe only give you 40k.  Then call back again in 6 months.  Do this over and over until you hit their max.  FYI only use chase and b of a. The other cards don't raise it high and don't do many direct deposit promotions

 Unfortunately when you owe 50% or more of your credit limit your credit score will temporarily go down so this would adversely affect getting the best mortgage rate.  I probably wouldn't use it for a down payment unless you found a deal you just can't refuse.