All Forum Posts by: Todd Krzeminski

Anyone have a recommended source for Flood Insurance for a SFH?

Getting quotes for one of my Indianapolis properties in the $3k+ range, which is outrageous. I could insure it myself at that rate.

Hey Daniel -- great idea. I'm up for a meetup. Add me to the list.

Sounds like a great idea. I'm in.

@Sastry Srini Just curious -- was this your first rental purchase or just the first in the Jacksonville market?

What made you choose Jacksonville? 

I've purchased 3 in Indianapolis through Norada. Great experience.

Yes, exactly how mine is setup. 

A Wyoming LLC as the manager of another entity protects against the outside attack due to its charging order protection. To get to the LLC holding the asset, you have to go through the Wyoming LLC as it is the member manager of the entity. Personally, I have no membership interest in the Virginia LLC.

I did not use a promoter, but a reputable law firm to setup this structure.

@JR T. I'm not using a Wyoming LLC for tax considerations, but for asset protection.

I setup a Wyoming Holding Company (LLC) that will manage my Virginia LLC. As I live out of state (Virginia) -- do I need to use a Wyoming bank for the holding company LLC, or can I use one local to me or national bank? Any negatives to using a local bank in this case? Would a local bank even let me setup an account for an out of state entity?

I have experience using PARC for Property Management. PM me if you want my opinion.

Congrats...looks like two winners.

Wow, I'm no expert, but that seems like overkill for two properties. 

Why a Land Trust? I've read that those can be a money making scheme for lawyers, and don't provide the protection/anonymity you may think they do.

Have you done much research? I recommend reading "Start Your Own Corporation" by Garrett Sutton. He goes over the pros/cons of all types of asset protection mechanisms, including Land Trusts.