All Forum Posts by: Tris Rollins
Tris Rollins has started 4 posts and replied 14 times.
Post: All cash now but I need that money back...
- Marana, AZ
- Posts 14
- Votes 4
I am looking at buying a property all cash so I can close the deal quickly over someone else. How long would I have to wait to get my cash back out so I can use for another property. Are there multiple routes? I don't have HML in place currently or I would go that route. Purchase Price $45k. Thanks.
Post: How to transfer title for my rental property from me to my LLC?
- Marana, AZ
- Posts 14
- Votes 4
I have been told by a local real estate lawyer (after asking a question) that using a holding company LLC out of WY or NV is an option for "anonymity", which then they (your holding LLC) owns the other LLCs in different states. It not only provides the anonymity but also can offer some tax advantages. I am still researching this, but I did find an interesting video on youtube about it, guy named Clint Coons. Anyways never done it, not sure if I will do it, but just throwing an option out there depending on how serious you are. Educate yourself on everything and do what makes sense for you. Congrats on your first purchase!
Hi Carrie, I definitely would love to chat. I will email you guys! Thanks.
First off, I am new and am looking for a mentor in real estate investing. So, if anyone is in the Green Bay/Shawano/Appleton area I would love to link up. Second, I moved to WI a year ago and it seems like most of the smoking deals are homes built in 1940 and older OR the smoking deals are in small towns well outside the larger cities. I am looking for buy and hold rental properties (SFR or Multi). I admittedly now live in a home from 1926 but it was heavily upgraded ($90k) and is in a small town. I see how slow the real estate market is, so I am very reluctant to put my hard earned savings (or time for that matter) into just anything. So my question is, has anyone been successful in small towns (<8k) with low socioeconomic status'? Tips/Advice please. I am willing to go to somewhere close like Green Bay, but would obviously like to stay local if possible for convenience. Sorry if this is rookie stuff, but I believe in these types of communities, hence I signed up (went PRO, though I am far from that status) and am looking for my first deal.